Finance Minister Nicola Willis has ordered the RBNZ to return NZD 10.1 mln (about USD 5.9 mln) after rejecting the central bank’s request to apply prior-year unspent funds to five “core” projects, Willis said in a June 24 letter to RBNZ chair Roger Finlay published by Treasury on Thursday. Willis demanded fiscal discipline, requiring ongoing assessment of the bank’s cost efficiency and saying priority projects must be delivered within existing appropriations; the unspent funds will be returned t

Finance Minister Nicola Willis has ordered the RBNZ to return NZD 10.1 mln (about USD 5.9 mln) after rejecting the central bank’s request to apply prior-year unspent funds to five “core” projects, Willis said in a June 24 letter to RBNZ chair Roger Finlay published by Treasury on Thursday. Willis demanded fiscal discipline, requiring ongoing assessment of the bank’s cost efficiency and saying priority projects must be delivered within existing appropriations; the unspent funds will be returned to the government via the dividend remit. To provide certainty for future years, Willis set criteria for any carry‑forward request: applicants must show delays were caused by factors beyond the bank’s control, explain why next fiscal year’s funding is insufficient, and identify risks that could affect the funds’ value or service delivery.