A former Finance Minister believes there's a need for a publicly funded body to find out what election promises would cost. 

Act and New Zealand First have shot down current Finance Minister Nicola Willis' proposal, which would have allowed resources from the public sector to cost policies of political parties up to 10 months before an election. 

Ruth Richardson was the Finance Minister in the 1990s and told Ryan Bridge Willis is on the right track, but the proposal falls short of what's required. 

She says we want a publicly resourced body, independent of the executive to ensure more informed public and parliamentary debate. 

Richardson says the UK’s Office for Budget Responsibility is a gold standard example of what we should be creating. 

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