There are three ‘pillars’ of public administration in Victoria – the Constitution Act 1975, the Public Administration Act 2004 and the Financial Management Act 1994.
In the fourteen years that have followed the introduction of the Financial Management Act, public financial management has evolved significantly in Victoria and in many other jurisdictions throughout the world.
The Victorian Government recognises that this evolution presents new challenges for providing transparent and accountable government. Since its election in 1999, the government has been a leader in reforming public administration and improving government transparency and accountability. Independent economic consultancy Access Economics has recently upgraded the Victorian Government’s fiscal transparency rating to the highest ranking of A+. This makes Victoria the most transparent Australian state in terms of financial reporting.
The government has already thoroughly reviewed the Constitution Act and introduced the Public Administration Act. Now, as part of our 2006 election commitment to modernise fundamental legislation in Victoria, we are reviewing the state’s public finance legislation. This review was foreshadowed in the 2008 Annual Statement of Government Intentions.
This review will play an important role in determining the relationship between parliament and executive government for the next generation and in ensuring that government in Victoria is even more accountable, accessible and transparent.
As part of this review, this discussion paper is designed to canvass the views of the community and stakeholders about how new public finance legislation can meet contemporary needs, and be responsive to the needs of future generations.
We will consult widely in this review and consider all perspectives.
In reading and responding to the issues raised in this discussion paper, you will be contributing directly to reforming public finance in Victoria.
TIM HOLDING MP
Minister for Finance, WorkCover
and the Transport Accident Commission.
October 2008
View other sections of this Discussion Paper:
Foreword
Introduction
1. Victoria’s current public finance system
2. The case for change
3. Possible directions for reform
4. Next steps
Appendix A: Extract from Public Administration Act 2004, Part 1, s. 5
Appendix B: Extract from Public Administration Act 2004, Part 5, s. 81
List of shortened forms
Glossary of terms
