Public bodies will be forced to provide full details of financial transactions under proposed new laws.

Speaking in the House of Assembly this morning, Premier Michael Dunkley said Government was “committed to keeping its financial affairs and those of public bodies and authorities, open and transparent”, but that current legislation meant some public bodies did not have to be fully accountable.

“While expenditure data for Government Departments is readily disclosed and information inclusive of salaries, grants, and contributions is available to the public, the same level of disclosure does not apply to all public bodies and authorities,” Mr Dunkley told MPs.

A preliminary review of the legislation that governs the operation of different public bodies and authorities highlights significant inconsistencies as it relates to the requirement for disclosure. While most public bodies and authorities are required to provide annual reports, the level of detail is not always as useful as the public requires in order to be fully informed.”

Mr Dunkley said that, in certain cases, Government Ministers did not have the authority to demand specific details relating to the financial accounts of some groups. As a result, some bodies are only required to submit annual accounts “which does not itemise the specifics of the expenditure”.

“The Government will amend the Public Treasury (Administration and Payments) Act 1969 to require all Government Departments and public authorities to provide very specific aspects of information relating to the accounts of these bodies,” Mr Dunkley said.

“Under these provisions, information such as the salaries for senior executive officers of the public authorities will be made available as a part of the consolidated financial statements.

“In other instances, the Government will implement policies that mandate, via contractual agreement, the public disclosure of similar financial information as a requirement for grant funding. Such policies will ensure that where public funds are being used to underwrite the cost of operations, information regarding salaries, sponsorships, and other contributions is publicly available.

“This Administration will take appropriate action, consistent with law and policy to disclose information so that the public is informed. The same principle will apply to public bodies and authorities.”