Report on Government investments released

The Treasury has today released a report outlining significant Government investment projects and ways of lifting their performance.

Secretary to the Treasury Gabriel Makhlouf says the report gives New Zealanders more detailed information about how and where taxpayers’ money is being used for essential services like roads, schools and hospitals.

“The report looks at how well Government investments are performing and whether they are delivering benefits”, says Mr Makhlouf.

“Ultimately, this information helps the public sector better manage assets as well as helping Ministers make sound investment decisions.”

The report includes a number of case studies, including one on the Vision 2015 Programme to deliver better immigration services, to support economic growth.

Immigration New Zealand’s reporting shows the financial benefits of the programme are likely to be above the target of $12.3 million per annum by July 2018.

“These examples help agencies learn from each other and work together to gain the most benefit from investments.”

“The Treasury is providing new tools to help agencies lift performance, including the Investor Confidence Rating, guidance on benefits management, and business case clinics.”

Investing for New Zealand – Insights from 2015/16 shows that the Government’s portfolio of significant investment projects has grown from 409 to 508, and the whole-of-life cost of the portfolio has increased from $73 billion to $87 billion.

On-going monitoring work by the Treasury includes the interim Major Projects Performance Report, released on 19 January, and the Investor Confidence Rating for individual agencies’ investment management, which will release a second set of results later in January.

This is the second time the Treasury has published the Government Investment Report.

See http://www.treasury.govt.nz/statesector/investmentmanagement/publications/ipannualreport

Ends

© Scoop Media