24359 (2025). Francisco Hernandez to the Minister of Finance

24359 (2025). Francisco Hernandez to the Minister of Finance: How much, if anything, is being budgeted in the 2025/26 financial year for redundancy payments, severance or other termination packages in the Minister’s departments, agencies, crown entities and any other bodies that the Minister is responsible for, if any, and how much has been budgeted and spent in the past five financial years?

Hon Nicola Willis: For the Treasury, I direct the member to the response to the Examination of the Estimates Select Committee questions.. RBNZ is currently implementing significant cost-saving measures for FY25/26 financial years, including staff reductions and associated redundancy and severance payments. It is anticipated that the majority of any redundancy and severance payments will be provided for within the 2024/25 financial year. Redundancy and restructuring payments made for the previous five financial years have been disclosed in RBNZ’s Annual Report Note 20 – Operating Expenses. RBNZ have not budgeted for redundancy payments in the past five years.