Fundamental constitutional principles and values of New Zealand law
This is a single section from Chapter 4. Read the full chapter here.
Parliamentary authority is required to spend or borrow money, or levy a tax
Legislation needs to clearly authorise the raising, spending, and borrowing of money.
Government agencies can only spend those funds that Parliament specifically grants them each year. Agencies 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 17.