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{{short description|Federal treasury department of the Australian Government}}
{{Use Australian English|date=January 2014}}
{{Use dmy dates|date=January 2014}}
 
{{Infobox government agency
| agency_name = The Treasury
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| jurisdiction = [[Australia]]
| headquarters = {{ACTcity|Parkes}}, [[Canberra]]
| employees = 1,231466 (20212023)<ref>[https://treasury.gov.au/sites/default/files/20212023-10/p2021p2023-216241454036-tsy-annualar-report2022-2020-2123.pdf|page=61|title= Treasury Annual Report 2020-21|date=292022/23 Septemberpage 2021|author=Department of the Treasury|publisher=Department of the Treasury87]</ref>
| budget = $377 million (2022/23)
| minister1_name = [[Jim Chalmers]]
| minister1_pfo = [[Treasurer of Australia|Treasurer]]
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| chief1_name = [[Steven Kennedy]]
| chief1_position = [[Departmental secretary|Secretary]]
| child1_agency = [[Reserve#Agencues|See Bank of Australiabelow]]
| child2_agency = [[Australian Competition and Consumer Commission]]▼
| child3_agency = [[Australian Securities and Investments Commission]]▼
| child4_agency = [[Australian Taxation Office]]▼
| child5_agency = Corporations and Markets Advisory Committee
| child6_agency = National Competition Council▼
| child7_agency = Auditing and Assurance Standards Board
| child8_agency = [[Australian Accounting Standards Board]]▼
| child9_agency = [[Productivity Commission]]▼
| child10_agency = Australian Reinsurance Pool Corporation▼
| website = {{URL|treasury.gov.au}}
}}
 
The '''Department of the Treasury''', also known as the '''The Treasury''', is the [[Treasury|national treasury]] and financial department of the [[Australian Government|federal government of the Commonwealth of Australia]]. The treasury is responsible for executing economic and fiscal policy, market regulation and the delivery of the [[Australian federal budget|federal budget]] with the department overseeing various agencies including the [[Australian Taxation Office]] (ATO), the [[Australian Securities and Investments Commission#Agencues|Securities16 and Investments Commissionagencies]] (ASIC) and the [[Australian Competition and Consumer Commission|Competition and Consumer Commission]] (ACCC). The Treasury is one of only two departments that have existed continuously since [[Federation of Australia|Federation]] in 1901, the other being the [[Attorney-General's Department (Australia)|Department of the Attorney-General]].
 
The most senior public servant in the Treasury is the [[departmental secretary|department secretary]], currently [[Steven Kennedy]] who was appointed in September 2019.<ref>{{cite news|url=https://treasury.gov.au/the-department/about-treasury/our-executive|title=Dr Steven Kennedy|publisher=Department of the Treasury|access-date=25 April 2020}}</ref> Ministerial responsibility for the department lies with the [[Treasurer of Australia|Treasurer]], currently [[Jim Chalmers]] who took office in the [[Albanese government]] in May 2022.
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# '''Well functioning markets.''' The Treasury provides advice on policy processes and reforms that promote a secure financial system and sound corporate practices, remove impediments to competition in product and services markets and safeguard the public interest in matters such as consumer protection and foreign investment.
# '''Effective taxation and retirement income arrangements.''' The Treasury provides advice and assists in the formulation and implementation of government taxation and retirement income policies and legislation as well as providing information on material changes to taxation revenue forecasts and projections.
 
==Agencies==
As at June 2023, the Treasury oversaw 16 agencies.<ref>[https://treasury.gov.au/sites/default/files/2023-10/p2023-454036-tsy-ar-2022-23.pdf Treasury Annual Report 2022/23 page 16]</ref>
*Auditing & Assurances Board
▲| child8_agency = *[[Australian Accounting Standards Board]]
*[[Australian Bureau of Statistics]]
*Australian Office of Financial Management
▲| child2_agency = *[[Australian Competition and& Consumer Commission]]
*[[Australian Prudential Regulation Authority]]
▲| child10_agency = *Australian Reinsurance Pool Corporation
▲| child3_agency = *[[Australian Securities and& Investments Commission]]
▲| child4_agency = *[[Australian Taxation Office]]
*Commonwealth Grants Commission
*Inspector General of Taxation
▲| child6_agency = *National Competition Council
*National Finance & Investment Corporation
▲| child9_agency = *[[Productivity Commission]]
*[[Reserve Bank of Australia]]
*[[Royal Australian Mint]]
 
==Financial regulation==
The department works with the [[Australian Prudential Regulation Authority]], the [[Australian Securities and& Investments Commission]] and the [[Reserve Bank of Australia]] via the Council of Financial Regulators Working Group to ensure that market operators have appropriate [[regulation|oversight]] and to facilitate [[crisis management]] if required.<ref name="fam">{{cite web |url=http://www.treasury.gov.au/Policy-Topics/FinanceAndMarkets |title=Finance and Markets |publisher=The Treasury |access-date=24 June 2012 |archive-url=https://web.archive.org/web/20120628223501/http://www.treasury.gov.au/Policy-Topics/FinanceAndMarkets |archive-date=28 June 2012 |url-status=dead }}</ref>
 
==List of secretaries==
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! Order !! Name || Term begin !! Term end !! Time in office
|-
|align=center|1 || [[George Allen (public servant)|George Allen]] ||align=center| 1 January 1901 ||align=center| 13 March 1916 ||align=right|{{ayd|1901|01|01|1916|03|13}}
|-
|align=center|2 || [[James Collins (public servant)|James Collins]] ||align=center| 14 March 1916 ||align=center| 26 June 1926 ||align=right|{{ayd|1916|03|14|1926|06|26}}
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==Treasury’s independence==
In 2008, Treasurer [[Wayne Swan]] called Secretary to the Treasury Ken Henry an "independent economic regulator," similar to the Governor of the Reserve Bank.<ref>Jennifer Hewett (21 October 2008). [http://www.theaustralian.com.au/business/news/rba-warns-on-bank-guarantee/story-e6frg90f-1111117807056 RBA warns on bank guarantee as Reserve and Treasury at loggerheads]. ''[[The Australian]]''. News Limited. Retrieved on 24 June 2012.</ref> When asked after the 2009 Budget about Treasury’s independence, Henry replied:
{{Quote|Strictly of course we're not. The Treasury Department is a department of state. It is part of the executive government. It works to the government of the day, whatever the political persuasion of the government of the day. And so in that sense of course the Treasury is not independent from government and it can never behave as if it is independent from government.
But there's another sense in which it does have a degree of independence and that is that the Treasury conducts its analysis without government interference. It's up to the government of the day to decide whether to accept that analysis or whether to reject that analysis.<ref>Stephen Long (19 May 2009). [http://www.abc.net.au/pm/content/2008/s2575258.htm Treasury boss says Budget was beyond the 'reading age' of its critics]. ''[[PM. Australian(radio Broadcasting Corporation.program)|PM]]''</ref>|''[[ABC Radio National|ABC Radio]]'', Tuesday, 19 May 2009}}
 
==Forecasts==
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==References==
{{reflist|30em}}
 
==External links==
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{{authority control}}
 
[[Category:Government departmentsMinistries of Australiafinance|Australia, Treasury]]
[[Category:Finance ministries|Australia, Treasury]]
[[Category:1901 establishments in Australia]]▼
[[Category:Government finances in Australia]]▼
[[Category:Government agencies established in 1901]]
[[Category:Government departments of Australia]]
▲[[Category:Government finances in Australia]]
▲[[Category:1901 establishments in Australia]]
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