41268 (2025). Camilla Belich to the Minister of Finance

41268 (2025). Camilla Belich to the Minister of Finance: What total amount, if any, was spent on board member fee increases in the past 12 months, broken down by entity and month?

Hon Nicola Willis: The Treasury (Governance and Appointments) conducted the three yearly review of board fees for Crown entities under the Crown Company Fees Methodology in 2024, as prescribed by the methodology. Cabinet approved the fee increase recommendations in October 2024 for effect from 1 January 2025. All increases are paid from the entities revenue. Increases were approved for all SOE's and Crown Companies for the Min of Finance For each Entity below are the total fees Increase from 1 January 2025 to 30 June 2025 (rounded) against the % of Annual Revenue. Airways Corporation of New Zealand Ltd $93,500 0.04% AsureQuality Ltd $58,000 0.025% Kordia Group Ltd $37,000 0.025% Pāmu (Landcorp Farming Ltd) $35,000 0.01% Meteorological Service of NZ Ltd $42,700 0.07% NZ Post Ltd $81,000 0.05% Quotable Value Ltd $51,000 0.013% Transpower New Zealand Ltd $84,000 0.01% Animal Control Products Ltd $16,000 0.09% KiwiGroup Capital (KGC) $4,000 - Crown Infrastructure Delivery Ltd $80,000 0.03% I have also approved an increase for the Natural Hazard Commission board fees from 1 July 2025 in accordance with the requirements of the Public Service Commission Framework from $39,600 to $60,930 per director. RBNZ Board remuneration is set by the Remuneration Authority. The Remuneration Authority makes new fee determinations for the RBNZ Board Chair, Deputy Chair, and other Board members each year. Total Board remuneration for the year ended 30 June 2025 was $841,784 compared to $724,725 for the year ended 30 June 2024. All fees are annualised as they are not paid monthly.