Chancellor of the Exchequer (New Melanesia)
| Chancellor of the Exchequer | |
|---|---|
| Canciller del Erario | |
Incumbent Vacant | |
| Treasury of New Melanesia | |
| Style | Mr/Madam Chancellor (informal) |
| Member of | Council of Ministers |
| Nominator | Prime Minister |
| Appointer | President |
| Term length | At the President's Pleasure |
| Formation | 11 September 2022 |
The Chancellor of the Exchequer is the chief officer of the Treasury of New Melanesia as well as a high ranking member of the council of ministers.
Role
Fiscal Policy
The chancellor has considerable power over other ministries as it's the treasury that sets expenditure limits for other departments. One part of the chancellor's key roles include the framing of the government's annual budget.
Monetary Policy
While the Bank of New Melanesia sets interest rates, the chancellor has some level of influence this. The chancellor also sets inflation targets for interest rates.
National Bank
The chancellor, as the Bank of New Melanesia is state-owned, typically has the role of appointing the Chief Executive of the bank. As well as this they have some influence over the bank's affairs.
Appointment
The Chancellor, as a cabinet minister, is typically nominated by the Prime Minister. In their capacity as head of state, the President of New Melanesia formally appoints officeholders.