Basic constitutional principles and values of New Zealand law
This is a single section from Chapter 3. Read the full chapter here.
Parliamentary authority required to raise, spend or borrow money, or levy a tax
Money must not be raised, spent or borrowed without Parliamentary authority.
Parliamentary authority is required to spend or borrow money, or levy a tax: Government departments can only spend those funds that Parliament specifically grants them each year. Departments that run over budget must seek approval from Parliament for more funds. Only Parliament can authorise the borrowing of money by the Government, and only Parliament has the power to authorise the raising of money by way of new or increased taxes. The granting of powers to charge fees and levies is discussed in Chapter 15.