They had been invited to register their intent to attend the briefing. For organisations that typically attend restricted briefings, registration has largely been a formality – though the number of analysts allowed to attend might vary. But this year, Treasury changed its guidelines. And their applications to attend were rejected.
Treasury said the briefings provide time to consider materials before public release. The aim is more accurate reporting and greater “transparency and accountability to the public.”
Those not considered to have time-sensitive needs are no longer allowed to attend. Those include representatives of peak bodies, professional bodies, unions, universities, industry bodies, industry information services, and advocacy groups, among others.
But ‘lock-ups’ do not just provide early access to soon-to-be-released budget and fiscal documents.
Attendees can also ask Treasury officials detailed questions about complex estimates. This encourages better-informed reports with fewer errors, and with fewer excuses for errors.
Occasionally, discussions with officials at a lock-up can discover errors in the estimates.
At the 2023 Budget lock-up, I found that Treasury had failed to tally or account for a substantial fiscal risk to the tobacco excise returns. I discussed the issue with officials in attendance to confirm that I had not misunderstood anything. The errors were corrected at the subsequent Pre-Election Fiscal Update.
I will likely not be admitted to Budget 2025’s lock-up if Treasury’s guidelines for attendance stand.
We can sympathise with Treasury’s predicament. When more people wish to attend restricted briefings than can be accommodated, Treasury must choose who to disappoint.
However, the proposed guidelines for restricted briefings put little weight on analysts’ ability to discuss estimates with officials.
Analysts barred from briefings could email Treasury for clarification after the event. But I had emailed Treasury long before Budget, warning them about the potential issue. Nothing was done until I found the right Treasury official at the lock-up.
Groups affected by the new guidelines regularly provide analysis of budget figures to their own readers, who number in the hundreds of thousands. They also provide expert analysis for journalists attending the restricted briefings. Both functions assist in transparency and accountability to the public, which are purposes of the restricted briefings.
We strongly urge Treasury to reconsider these guidelines well before Budget 2025.
Dr Eric Crampton is Chief Economist at the New Zealand Initiative. This article was first published HERE
Those not considered to have time-sensitive needs are no longer allowed to attend. Those include representatives of peak bodies, professional bodies, unions, universities, industry bodies, industry information services, and advocacy groups, among others.
But ‘lock-ups’ do not just provide early access to soon-to-be-released budget and fiscal documents.
Attendees can also ask Treasury officials detailed questions about complex estimates. This encourages better-informed reports with fewer errors, and with fewer excuses for errors.
Occasionally, discussions with officials at a lock-up can discover errors in the estimates.
At the 2023 Budget lock-up, I found that Treasury had failed to tally or account for a substantial fiscal risk to the tobacco excise returns. I discussed the issue with officials in attendance to confirm that I had not misunderstood anything. The errors were corrected at the subsequent Pre-Election Fiscal Update.
I will likely not be admitted to Budget 2025’s lock-up if Treasury’s guidelines for attendance stand.
We can sympathise with Treasury’s predicament. When more people wish to attend restricted briefings than can be accommodated, Treasury must choose who to disappoint.
However, the proposed guidelines for restricted briefings put little weight on analysts’ ability to discuss estimates with officials.
Analysts barred from briefings could email Treasury for clarification after the event. But I had emailed Treasury long before Budget, warning them about the potential issue. Nothing was done until I found the right Treasury official at the lock-up.
Groups affected by the new guidelines regularly provide analysis of budget figures to their own readers, who number in the hundreds of thousands. They also provide expert analysis for journalists attending the restricted briefings. Both functions assist in transparency and accountability to the public, which are purposes of the restricted briefings.
We strongly urge Treasury to reconsider these guidelines well before Budget 2025.
Dr Eric Crampton is Chief Economist at the New Zealand Initiative. This article was first published HERE
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