Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Treasury boss Makhlouf eschews corporate largesse

Treasury boss Makhlouf careful not to accept corporate largesse

By Paul McBeth

Aug 2 (BusinessDesk) - Treasury Secretary Gabriel Makhlouf turned down several invitations to schmooze with private sector high-flyers in the first six months of the year, limiting the risk he will be accused of corporate cronyism.

Makhlouf accepted dinner invitations from the Department of Prime and Cabinet and the Governor-General in the six months ended June 30, but shied away from other offers, according to his latest expense claims.

He declined offers of theatre tickets from Craigs Investment Partners, which is one of the firms involved in the government's mixed-ownership model programme, and Deutsche Bank, and said no to drinks with the board of Bank of New Zealand, and didn’t attend a farewell for KPMG's Andrew Dinsdale.

Makhlouf’s cautious social calendar suggests he has taken up the baton from predecessor John Whitehead, who shared $80 of pizzas with Finance Minister Bill English and Reserve Bank Governor Alan Bollard when he departed.

New Zealand's Debt Management Office, a unit within the Treasury, got into strife last year when it emerged staff accepted 118 gifts from investment banks including lunches, dinner, theatre and sports tickets.

The ensuing row prompted the Treasury to audit its gift and hospitality guidelines, and ultimately led to tougher rules to avoid the impression it was too matey with the private sector.

Mahklouf also turned down dinner with officials from the Ministry of Science and Innovation and a dinner date with the Lord Mayor of London Alderman David Wootton.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Civil Contractors: Massive Rebound In Civil Construction Business Confidence

New Zealand’s civil construction industry is riding a massive rebound in post-pandemic business confidence – but this may be undermined by skills shortages, which continue to be the industry’s number one challenge... More>>

Energy: Feeling Our Way Towards Hydrogen - Tina Schirr

Right now hydrogen is getting a lot of attention. Many countries are focusing on producing hydrogen for fuel, or procuring it, or planning for its future use... More>>

Maritime Union: Calls For New Zealand Shipping To Resolve Supply Chain Crisis

The Maritime Union says there needs to be innovative responses to ongoing shipping congestion. Maritime Union of New Zealand National Secretary Craig Harrison says it is essential that New Zealand develops its own shipping capacity... More>>

Housing: New Home Consents Continue To Break Records

A record 44,299 new homes were consented in the year ended June 2021, Stats NZ said today. “The annual number of new homes consented rose again in the June 2021 year, the fourth consecutive month of rises,” construction statistics manager Michael Heslop said... More>>

Real Estate: June Home Transfers Remain High
There were 44,517 home transfers in the June 2021 quarter, the highest June quarter figure since 2016, Stats NZ said today. The number of home transfers was very similar to the March 2021 quarter and was up 18,252 from the June 2020 quarter... More>>

Statistics: Household Saving Falls In The March 2021 Quarter

Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020... More>>