The Treasurer plays a key role in the economic policy of the government.

In some other countries the equivalent role is the Minister for Finance, although NSW has had a separate office of that name responsible for regulating government spending.

[2] Treasurers Forster, Stuart, Dibbs, Jennings, Reid, Lyne, Waddell, Carruthers, McGowen, Holman, Fuller, Lang, Bavin, Stevens, Mair, McKell, McGirr, Cahill, Heffron, Renshaw, Askin, Lewis, Willis, Wran, Greiner, Fahey and Iemma were also Premier during some or all of their period as Treasurer.

In January 1914, Henry Hoyle was appointed as an Honorary Minister in Holman ministry, charged with the duties of Colonial Treasurer, which was held by Premier Holman, but Hoyle was often referred to as the "Assistant Treasurer".

Significantly, the role exists only when in use; there can be a lengthy period between successive holders of the title.