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Department of Treasury and Finance
Governance Reform
 
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Recent Government business reforms have resulted in improvements to the overall governance structure for Government businesses, and further reforms have been identified.

In the 2011 Mid-Year Financial Report, the Treasurer indicated that a new set of principles for Government businesses would be established to ensure the efficient operation of Government businesses, including:

  • appropriate financial returns;
  • reducing the budget impacts of Community Service Obligations and equity contributions;
  • efficient use of scarce capital resources;
  • reducing financial risk; and
  • minimising price increases.

To achieve this, the following reform principles for the operation of Government businesses have been adopted:
    1. Enhanced strategic control
    2. Improved clarity of objectives
    3. Improved shareholder return
    4. Increased productivity and operational efficiency
    5. Increased scrutiny of capital investments
    6. Greater accountability
    7. Improved transparency

Further details explaining the principles are outlined in the document Principles for Strengthening the Oversight and Governance of Government Businesses (PDF 91 Kb).
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