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Minister of Finance (New Zealand)

New Zealand minister of the Crown

New Zealand minister of the Crown

FieldValue
postMinister of Finance
flagFlag of New Zealand.svg
flagcaptionFlag of New Zealand
insignia[[File:Coat of arms of New Zealand.svg120px]]
insigniacaptionCoat of Arms of New Zealand
image[[File:Nicola Willis 2023 (cropped).png160px]]
incumbentNicola Willis
incumbentsince27 November 2023
departmentThe Treasury
styleThe Honourable
member_of* Cabinet of New Zealand
reports_toPrime Minister
seatWellington
nominatorPrime Minister
appointerGovernor-General of New Zealand
appointer_qualifiedon the advice of the prime minister
termlengthAt His Majesty's pleasure
formation3 May 1841
firstGeorge Cooper as Colonial Treasurer
salary$288,900
websitewww.beehive.govt.nz
  • Executive Council

The minister of Finance () is the minister and the head of the New Zealand Treasury, responsible for producing an annual New Zealand Budget outlining the government's proposed expenditure. The position is often considered to be the most important cabinet post after that of the prime minister.

The current Minister of Finance is Nicola Willis. There are currently three associate minister roles held by Chris Bishop, David Seymour, and Shane Jones.

Responsibilities and powers

One of the Minister of Finance's key roles involves the framing of the annual year budget. According to Parliament's Standing Orders, the Minister of Finance may veto any parliamentary bill which would have a significant impact on the government's budget plans. The Minister of Finance supervises the Treasury, which is the government's primary advisor on matters of economic and financial policy. As such, the Minister of Finance has broad control of the government's spending, making the position quite powerful.

Some analysts, such as Jonathan Boston, claim that the Minister of Finance can sometimes hold more influence than the Prime Minister, if the conditions are right. Gordon Coates, Finance Minister in the early 1930s, was sometimes such a figure. Some political scientists, such as Boston, believe that in the government of David Lange, Minister of Finance Roger Douglas held more power than was proper, and that the Treasury was using its control of government finances to take a supervisory role across the whole administration. It was probably for this reason that Lange's successor, Geoffrey Palmer, established the Department of the Prime Minister and Cabinet, which could offer the Prime Minister advice independent of that given by individual ministers.

History

The office has existed since 1841. Apart from the office of Prime Minister itself, the only other cabinet posts to have existed since the first cabinet are those of Attorney-General and Minister of Internal Affairs. Originally, the holder of the post was designated Colonial Treasurer, but this term was replaced with Minister of Finance shortly after New Zealand ceased to be a Colony and became a Dominion in 1907, during the cabinet of Joseph Ward.

In the past, several Prime Ministers took on the post of Minister of Finance themselves, though in recent times this practice has declined. Robert Muldoon, the last Prime Minister to also serve as his own Minister of Finance, created considerable controversy by doing so. It is more common, however, for a Deputy Prime Minister to serve as Minister of Finance. Bob Tizard, Michael Cullen, Bill English and Grant Robertson served as Deputy Prime Minister when in the position as Minister of Finance.

Traditionally Ministers of Finance rank second or third in seniority lists within Westminster-style Cabinets, although initially Harry Lake was ranked at sixth and his successor Robert Muldoon was ranked at eighth; both because of their short service to date in Parliament, and because Keith Holyoake saw Muldoon as too arrogant and ambitious for his own good. In the Hipkins Cabinet, Grant Robertson was ranked fourth, although he was the most senior minister who was not the prime minister, deputy prime minister, or deputy leader of the Labour Party.

Junior ministerial appointments in the finance portfolio

The convention of making a second, more junior appointment in the Finance portfolio began with Holyoake, who appointed Muldoon as an Assistant Minister to Lake shortly before the latter's death in 1967. Some successive Prime Ministers made similar appointments of an Associate Minister of Finance (for example, Marshall and Kirk) but this was not always done (Rowling, for example, who had Mick Connelly as his associate while serving as Finance Minister did not appoint an associate Minister after succeeding to the premiership in 1974). Associate appointments became standard when Muldoon served concurrently as both Prime Minister and Finance Minister. In his second term, Muldoon appointed both a Deputy Minister of Finance (Hugh Templeton) as well as an associate Minister (Derek Quigley). Muldoon's successors Lange and Palmer continued to have a three-strong Finance team, each appointing two associate Ministers to support their respective Ministers of Finance. At times, the appointment of associate ministers was intended to temper the reform ambitions of Roger Douglas.

In the coalition governments formed in 1996, 2017 and 2023, responsibility for Finance was shared between the parties. After the 1996 elections, the role of the Minister of Finance was formally split between two portfolios – that of Minister of Finance and that of Treasurer. The position of Treasurer was senior to that of the Minister of Finance, and was created as part of the coalition agreement between the National Party and New Zealand First. It was established especially for Winston Peters, leader of New Zealand First, who demanded it as part of the deal. When Peters ended the coalition, the position reverted to the National Party. After the change of government in 1999, both positions were held concurrently by Michael Cullen before they were combined into the old Minister of Finance portfolio in 2002. Associate Finance roles were won in coalition negotiations by New Zealand First, the Green Party and ACT New Zealand in the formation of both the Sixth Labour Government and the Sixth National Government.

List of finance ministers

; Key

No.NamePortraitTerm of officePrime MinisterIndependent politician}}"1Independent politician}}"2Independent politician}}"3Independent politician}}"4Independent politician}}"5Independent politician}}"6Independent politician}}"(5)Independent politician}}"(6)Independent politician}}"7Independent politician}}"(3)Independent politician}}"(7)Independent politician}}"Independent politician}}"8Independent politician}}"9Independent politician}}"10Independent politician}}"(8)Independent politician}}"11Independent politician}}"12Independent politician}}"(11)Independent politician}}"13Independent politician}}"(11)Independent politician}}"(13)Independent politician}}"14Independent politician}}"15Independent politician}}"16Independent politician}}"(13)Independent politician}}"(11)Independent politician}}"(13)New Zealand Liberal Party}}"(15)New Zealand Liberal Party}}"17New Zealand Liberal Party}}"18New Zealand Liberal Party}}"19New Zealand Liberal Party}}"(17)New Zealand Liberal Party}}"20Reform Party (New Zealand)}}"21New Zealand Liberal Party}}"(17)Reform Party (New Zealand)}}"(21)Reform Party (New Zealand)}}"22Reform Party (New Zealand)}}"23Reform Party (New Zealand)}}"24United Party (New Zealand)}}"(17)United Party (New Zealand)}}"25Reform Party (New Zealand)}}"(24)Reform Party (New Zealand)}}"26New Zealand Labour Party}}"27New Zealand National Party}}"28New Zealand National Party}}"29New Zealand Labour Party}}"30New Zealand National Party}}"31New Zealand National Party}}"32New Zealand Labour Party}}"33New Zealand Labour Party}}"34New Zealand National Party}}"(32)New Zealand Labour Party}}"35New Zealand Labour Party}}"36New Zealand National Party}}"37New Zealand National Party}}"38New Zealand National Party}}"39New Zealand National Party}}"(38)New Zealand Labour Party}}"40New Zealand National Party}}"(39)New Zealand National Party}}"41New Zealand Labour Party}}"42New Zealand Labour Party}}"New Zealand National Party}}"43
George Cooper[[File:George_Cooper_NZ.jpg103x103pxGeorge Cooper NZ]]5 January 18409 May 1842Independent politician}}"none
Alexander Shepherd[[File:No_image.png75x75px]]9 May 18427 May 1856
Dillon Bell[[File:Francis_Dillon_Bell_1881.jpg109x109px]]7 May 185620 May 1856Independent politician}}"Sewell
Charles Brown[[File:No_image.png75x75px]]20 May 18562 June 1856Independent politician}}"Fox
Henry Sewell[[File:Henry_Sewell,_ca_1872.jpg102x102px]]2 June 18564 November 1856Independent politician}}"Stafford
William Richmond[[File:C_William_Richmond_1888.jpg102x102px]]4 November 185625 February 1859
Henry Sewell[[File:Henry_Sewell,_ca_1872.jpg102x102px]]25 February 185926 April 1859
William Richmond[[File:C_William_Richmond_1888.jpg102x102px]]26 April 185912 July 1861
Reader Wood[[File:Reader_Wood.jpg102x102px]]12 July 18616 August 1862Independent politician}}"Fox
Dillon Bell[[File:Francis_Dillon_Bell_1881.jpg109x109px]]6 August 186221 August 1862Independent politician}}"Domett
Reader Wood[[File:Reader_Wood.jpg102x102px]]21 August 186224 November 1864Independent politician}}"
Independent politician}}"Whitaker
William Fitzherbert[[File:William_Fitzherbert.jpg99x99px]]24 November 186416 October 1865Independent politician}}"Weld
Edward Stafford[[File:Edward_William_Stafford.jpg97x97px]]31 October 186512 June 1866Independent politician}}"Stafford
Francis Jollie[[File:Francis_Jollie_-_Crop.jpg95x95px]]12 June 186624 August 1866
William Fitzherbert[[File:William_Fitzherbert.jpg99x99px]]24 August 186628 June 1869
Julius Vogel[[File:Julius_Vogel,_ca_1870s.jpg98x98px]]28 June 186910 September 1872Independent politician}}"Fox
Thomas Gillies[[File:Thomas_Gillies.jpg83x83px]]10 September 187211 October 1872Independent politician}}"Stafford
Julius Vogel[[File:Julius_Vogel,_ca_1870s.jpg98x98px]]11 October 18726 July 1875Independent politician}}"Waterhouse
Independent politician}}"Fox
Independent politician}}"Vogel
Harry Atkinson[[File:Sir_Harry_Albert_Atkinson,_ca_1885.jpg103x103px]]6 July 187515 February 1876Independent politician}}"Pollen
Julius Vogel[[File:Julius_Vogel,_ca_1870s.jpg98x98px]]15 February 18761 September 1876Independent politician}}"Vogel
Harry Atkinson[[File:Sir_Harry_Albert_Atkinson,_ca_1885.jpg103x103px]]1 September 187613 October 1877Independent politician}}"Atkinson
William Larnach[[File:William_Larnach,_1890.jpg92x92px]]15 October 18775 March 1878Independent politician}}"Grey
John Ballance[[File:John_Ballance_1880.jpg112x112px]]12 March 18781 July 1879
George Grey[[File:GeorgeEdwardGrey01.jpg114x114px]]10 July 18798 October 1879
Harry Atkinson[[File:Sir_Harry_Albert_Atkinson,_ca_1885.jpg103x103px]]8 October 187916 August 1884Independent politician}}"Hall
Independent politician}}"Whitaker
Independent politician}}"Atkinson
Julius Vogel[[File:Julius_Vogel,_ca_1870s.jpg98x98px]]16 August 188428 August 1884Independent politician}}"Stout
Harry Atkinson[[File:Sir_Harry_Albert_Atkinson,_ca_1885.jpg103x103px]]8 October 188724 January 1891Independent politician}}"Atkinson
John Ballance[[File:John_Ballance_1880.jpg112x112px]]24 January 189127 April 1893New Zealand Liberal Party}}"Ballance
Joseph Ward[[File:Joseph_Ward_c._1906.jpg111x111px]]1 May 189316 June 1896New Zealand Liberal Party}}"Seddon
Richard Seddon[[File:Richard_Seddon,_1906.jpg110x110px]]16 June 189610 June 1906
William Hall-Jones[[File:William_Hall-Jones_2.jpg100x100px]]21 June 19066 August 1906New Zealand Liberal Party}}"Hall-Jones
Joseph Ward[[File:Joseph_Ward_c._1906.jpg111x111px]]6 August 190628 March 1912New Zealand Liberal Party}}"Ward
Arthur Myers[[File:Arthur_Mielziner_Myers.jpg103x103px]]28 March 191210 July 1912New Zealand Liberal Party}}"Mackenzie
James Allen[[File:James_Allen_portrait.jpg113x113px]]10 July 191212 August 1915Reform Party (New Zealand)}}"Massey
Joseph Ward[[File:Joseph_Ward_c._1906.jpg111x111px]]12 August 191521 August 1919
James Allen[[File:James_Allen_portrait.jpg113x113px]]4 September 191928 April 1920
William Massey[[File:William_Ferguson_Massey_1919.jpg105x105px]]12 May 192010 May 1925
William Nosworthy[[File:William_Nosworthy.jpg104x104px]]14 May 192524 May 1926Reform Party (New Zealand)}}"Bell
Reform Party (New Zealand)}}"Coates
William Downie Stewart Jr[[File:William_Downie_Stewart.jpg99x99px]]24 May 192610 December 1928Reform Party (New Zealand)}}"
Joseph Ward[[File:Joseph_Ward_c._1906.jpg111x111px]]10 December 192828 May 1930United Party (New Zealand)}}"Ward
George Forbes[[File:George_William_Forbes.jpg99x99px]]28 May 193022 September 1931United Party (New Zealand)}}"Forbes
William Downie Stewart Jr[[File:William_Downie_Stewart.jpg99x99px]]22 September 193128 January 1933
Gordon Coates[[File:Joseph_Gordon_Coates,_1931.jpg99x99px]]28 January 19336 December 1935
Walter Nash[[File:Walter_Nash_(ca_1940s).jpg101x101px]]6 December 193513 December 1949New Zealand Labour Party}}"Savage
New Zealand Labour Party}}"Fraser
Sidney Holland[[File:Sidney_George_Holland_(1953)_2.png98x98px]]13 December 194926 November 1954New Zealand National Party}}"Holland
Jack Watts[[File:Jack_Watts.jpg107x107px]]26 November 195412 December 1957New Zealand National Party}}"
New Zealand National Party}}"Holyoake
Arnold Nordmeyer[[File:Arnold_Nordmeyer_(1950).jpg95x95px]]12 December 195712 December 1960New Zealand Labour Party}}"Nash
Harry Lake[[File:Harry_Lake.jpg100x100px]]12 December 196021 February 1967New Zealand National Party}}"Holyoake
Robert Muldoon[[File:Robert Muldoon 1978.jpg105x105px]]4 March 19678 December 1972New Zealand National Party}}"
New Zealand National Party}}"Marshall
Bill Rowling[[File:Bill Rowling, 1974 (crop).jpg100x100px]]8 December 19726 September 1974New Zealand Labour Party}}"Kirk
Bob Tizard[[File:Bob_Tizard,_1968.jpg100x100px]]6 September 197412 December 1975New Zealand Labour Party}}"Rowling
Robert Muldoon[[File:Robert Muldoon 1978.jpg105x105px]]12 December 197526 July 1984New Zealand National Party}}"Muldoon
Roger Douglas[[File:Roger Douglas, 1996 (cropped).png99x99px]]26 July 198414 December 1988New Zealand Labour Party}}"Lange
David Caygill[[File:David_Caygill,_2015.jpg99x99px]]14 December 19882 November 1990New Zealand Labour Party}}"
New Zealand Labour Party}}"Palmer
New Zealand Labour Party}}"Moore
Ruth Richardson[[File:Ruth_Richardson_(crop).tif94x94px]]2 November 199029 November 1993New Zealand National Party}}"Bolger
Bill Birch[[File:Bill_Birch.jpg102x102px]]29 November 19931 February 1999New Zealand National Party}}"
New Zealand National Party}}"Shipley
Bill English[[File:Bill_English_3by2.png113x113px]]1 February 199922 June 1999New Zealand National Party}}"
Bill Birch[[File:Bill_Birch.jpg102x102px]]22 June 199910 December 1999
Michael Cullen[[File:Michael_Cullen,_2008.jpg83x83px]]10 December 199919 November 2008New Zealand Labour Party}}"Clark
Bill English[[File:Bill_English_September_2016.jpg102x102px]]19 November 200812 December 2016New Zealand National Party}}"Key
Steven Joyce[[File:Steven_Joyce_crop.jpg83x83px]]12 December 201626 October 2017New Zealand National Party}}"English
Grant Robertson[[File:Hon_Grant_Robertson_(cropped).jpg94x94px]]26 October 201727 November 2023New Zealand Labour Party}}"Ardern
New Zealand Labour Party}}"Hipkins
Nicola Willis[[File:Nicola Willis 2023 (cropped).png102x102px]]27 November 2023IncumbentNew Zealand National Party}}"Luxon

List of treasurers

; Key

No.NamePortraitTerm of officePrime MinisterNew Zealand First}}"1New Zealand National Party}}"2New Zealand National Party}}"3New Zealand Labour Party}}"4
Winston Peters[[File:Winston_Peters,_2019.jpg102x102px]]16 December 199614 August 1998New Zealand National Party}}"Bolger
New Zealand National Party}}"Shipley
Bill Birch[[File:Bill_Birch.jpg102x102px]]14 August 199822 June 1999New Zealand National Party}}"
Bill English[[File:Bill_English_3by2.png113x113px]]22 June 199910 December 1999
Michael Cullen[[File:Michael_Cullen,_2008.jpg83x83px]]10 December 199915 August 2002New Zealand Labour Party}}"Clark

List of junior ministerial appointments in the finance portfolio

; Key

#NameTitleStartEndMinister of FinancePrime MinisterNew Zealand National Party}}"1New Zealand National Party}}"2New Zealand National Party}}"3New Zealand Labour Party}}"4New Zealand National Party}}"(3)New Zealand National Party}}"4New Zealand National Party}}"5New Zealand National Party}}"6New Zealand National Party}}"7New Zealand National Party}}"8New Zealand Labour Party}}"9New Zealand Labour Party}}"10New Zealand Labour Party}}"11New Zealand Labour Party}}"12New Zealand Labour Party}}"13New Zealand Labour Party}}"(10)New Zealand Labour Party}}"14New Zealand Labour Party}}"15New Zealand National Party}}"16New Zealand National Party}}"17New Zealand National Party}}"18New Zealand National Party}}"19New Zealand National Party}}"(18)New Zealand National Party}}"20New Zealand National Party}}"21New Zealand First}}"22Te Tawharau}}"New Zealand National Party}}"23New Zealand National Party}}"(21)Te Tawharau}}"(22)New Zealand Labour Party}}"24New Zealand Labour Party}}"25New Zealand Labour Party}}"26New Zealand Labour Party}}"27New Zealand Labour Party}}"28New Zealand National Party}}"29New Zealand National Party}}"30New Zealand National Party}}"31New Zealand National Party}}"32New Zealand National Party}}"33New Zealand National Party}}"34New Zealand Labour Party}}"35New Zealand First}}"36Green Party of Aotearoa New Zealand}}"37New Zealand Labour Party}}"38New Zealand Labour Party}}"39New Zealand Labour Party}}"40New Zealand Labour Party}}"41New Zealand Labour Party}}"(40)New Zealand Labour Party}}"42New Zealand National Party}}"43ACT New Zealand}}"44New Zealand First}}"(36)
Robert MuldoonMinister Assistant to the Minister of Finance15 February 19674 March 1967New Zealand National Party}}"LakeNew Zealand National Party}}"Holyoake
Lorrie PickeringAssociate Minister of Finance22 December 19699 February 1972New Zealand National Party}}"Muldoon
George GairAssociate Minister of Finance9 February 19728 December 1972New Zealand National Party}}"Marshall
Mick ConnellyAssociate Minister of Finance8 December 197210 September 1974New Zealand Labour Party}}"RowlingNew Zealand Labour Party}}"Kirk
George GairDeputy Minister of Finance12 December 19758 March 1977New Zealand National Party}}"MuldoonNew Zealand National Party}}"Muldoon
Peter WilkinsonAssociate Minister of Finance12 December 19758 March 1977
Hugh TempletonAssociate Minister of Finance8 March 197713 December 1978
Deputy Minister of Finance13 December 197811 December 1981
Derek QuigleyAssociate Minister of Finance13 December 197812 February 1981
Warren CooperAssociate Minister of Finance12 February 198111 December 1981
John FalloonAssociate Minister of Finance11 December 198126 July 1984
Richard PrebbleAssociate Minister of Finance26 July 198424 August 1987New Zealand Labour Party}}"DouglasNew Zealand Labour Party}}"Lange
David CaygillAssociate Minister of Finance26 July 198424 August 1987
Michael CullenAssociate Minister of Finance24 August 198712 September 1988
David ButcherAssociate Minister of Finance24 August 198712 September 1988
Peter NeilsonAssociate Minister of Finance24 August 19872 November 1990New Zealand Labour Party}}"Douglas, CaygillNew Zealand Labour Party}}"Lange, Palmer, Moore
David CaygillDeputy Minister of Finance12 September 198814 December 1988New Zealand Labour Party}}"DouglasNew Zealand Labour Party}}"Lange
Mike MooreDeputy Minister of Finance12 September 19889 February 1990New Zealand Labour Party}}"Douglas, CaygillNew Zealand Labour Party}}"Lange, Palmer
Stan RodgerDeputy Minister of Finance14 August 19899 February 1990New Zealand Labour Party}}"CaygillNew Zealand Labour Party}}"Palmer
Doug KiddAssociate Minister of Finance2 November 19903 October 1991New Zealand National Party}}"RichardsonNew Zealand National Party}}"Bolger
Maurice McTigueAssociate Minister of Finance2 November 199027 March 1993
Wyatt CreechAssociate Minister of Finance3 October 199129 November 1993
Simon UptonAssociate Minister of Finance27 March 199329 November 1993
Wyatt CreechDeputy Minister of Finance29 November 19931 March 1996New Zealand National Party}}"Birch
Bruce CliffeAssociate Minister of Finance29 November 199329 June 1995
Lockwood SmithDeputy Minister of Finance1 March 199616 December 1996
Tuariki DelamereAssociate Treasurer16 December 199631 August 1998New Zealand First}}"Peters (Treasurer)
New Zealand National Party}}"Shipley
New Zealand National Party}}"Birch (Treasurer)
Bill EnglishAssociate Treasurer31 August 19981 February 1999
Lockwood SmithAssociate Minister of Finance31 August 199810 December 1999New Zealand National Party}}"Birch, English, Birch
Tuariki DelamereAssociate Minister of Finance31 August 199810 December 1999
Trevor MallardAssociate Minister of Finance10 December 199919 November 2008New Zealand Labour Party}}"CullenNew Zealand Labour Party}}"Clark
Paul SwainAssociate Minister of Finance13 November 200019 May 2003
David CunliffeAssociate Minister of Finance19 May 200319 October 2005
Phil GoffAssociate Minister of Finance19 October 200519 November 2008
Clayton CosgroveAssociate Minister of Finance19 October 200519 November 2008
Simon PowerAssociate Minister of Finance19 November 200814 December 2011New Zealand National Party}}"EnglishNew Zealand National Party}}"Key
Steven JoyceAssociate Minister of Finance19 November 200820 December 2016
Jonathan ColemanAssociate Minister of Finance14 December 20118 October 2014
Paula BennettAssociate Minister of Finance8 October 201420 December 2016
Simon BridgesAssociate Minister of Finance20 December 201626 October 2017New Zealand National Party}}"JoyceNew Zealand National Party}}"English
Amy AdamsAssociate Minister of Finance20 December 201626 October 2017
David ClarkAssociate Minister of Finance26 October 20177 April 2020New Zealand Labour Party}}"RobertsonNew Zealand Labour Party}}"Ardern
Shane JonesAssociate Minister of Finance26 October 20176 November 2020
James ShawAssociate Minister of Finance26 October 20176 November 2020
David ParkerAssociate Minister of Finance26 October 201727 November 2023New Zealand Labour Party}}"Ardern, Hipkins
Megan WoodsAssociate Minister of Finance6 November 202027 November 2023
Kiri AllanAssociate Minister of Finance14 June 20221 February 2023
Michael WoodAssociate Minister of Finance1 February 202321 June 2023New Zealand Labour Party}}"Hipkins
Kiri AllanAssociate Minister of Finance21 June 202324 July 2023
Barbara EdmondsAssociate Minister of Finance24 July 202327 November 2023
Chris BishopAssociate Minister of Finance27 November 2023IncumbentNew Zealand National Party}}"WillisNew Zealand National Party}}"Luxon
David SeymourAssociate Minister of Finance27 November 2023Incumbent
Shane JonesAssociate Minister of Finance27 November 2023Incumbent

References

References

  1. "Parliamentary Salaries and Allowances Determination 2016".
  2. Clifton, Jane. (19 September 2013). "Influentials: Politics". [[New Zealand Listener]].
  3. "Ministerial List". [[Department of the Prime Minister and Cabinet (New Zealand).
  4. "Ministerial Portfolio: Finance". The Department of the Prime Minister and Cabinet.
  5. Cyclopedia Company Limited. (1897). "The Cyclopedia of New Zealand : Wellington Provincial District".
  6. (1996). "Ministers and Members in the New Zealand Parliament". University of Otago Press.
  7. Easton, Dr Brian. (1997). "The Commercialisation of New Zealand". University of Auckland Press.
  8. (2006). "Ministers and Members in the New Zealand Parliament: 1996-2005". Tarkwode Press.
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