The Public Service Commission has released an independent performance review of the Treasury.

Treasury Secretary Iain Rennie commissioned the review, which found operational strengths in the department's Budget processes but identified multiple areas requiring performance improvement and faster change.

Rennie said he welcomed the assessment. "While it was good to see that the reviewers found strength in some areas of our operations, such as our Budget processes, it is clear there is room for improvement and faster change in several aspects of our performance," he said.