Coronavirus (COVID-19) updates from the Australian Government

Performance measures

Measure Target 2018–19 2019–22
Feedback from Treasury portfolio ministers and assistant ministers shows satisfaction with the overall quality of advice received. Majority of feedback received to indicate satisfaction with the quality of advice received. As per 2018–19
Strive for stakeholders' agreement that Treasury makes a positive contribution to public policy.
Management, development and delivery of the legislative program in accordance with the relevant legislative requirements and guidance, including timeframes. Ensuring the legislative program is delivered within the required timeframes and the quality of legislation implemented meets a satisfactory standard, allowing for unforeseeable events. As per 2018–19
Delivery of macroeconomic models of Australia and articulation of their capabilities within Treasury and to other relevant stakeholders. Develop and maintain a peer–reviewed operational overlapping generations model of Australia. As per 2018–19
Develop and maintain a peer–reviewed operational macroeconometric model of Australia.
Develop and implement an engagement plan for the overlapping generations model of Australia, including academic, internal and external stakeholders.
Develop and implement an engagement plan for the macroeconometric model of Australia, including academic, internal and external stakeholders.
Sustain macroeconomic modelling capability within Macroeconomic Group.
Delivery of sound assessments of economic conditions and delivery of forecasts and projections of the economic outlook. Prepare economic forecasts and projections following the release of the National Accounts in March, September and December each year. As per 2018–19
Prepare updates of economic conditions as key information and data becomes available.
Prepare information notes on key aspects of the international and domestic economies.
Evaluate forecasting performance.
All budget documentation required by the Charter of Budget Honesty Act 1998 (the Charter) is delivered. Documents required under the Charter are delivered as they fall due. As per 2018–19
Payments to State and Territory Governments are timely, and meet the requirements of the Intergovernmental Agreement on Federal Financial Relations (IGA). 100 per cent of payments are made in accordance with the IGA and its related schedules. As per 2018–19
Relevant estimates are updated accurately and in a timely fashion.
Meetings of the Council on Federal Financial Relations are held at least biannually.
Ongoing development of Treasury's revenue modelling and forecasting capability, including revenue forecasting tools and methods. Revenue outcomes are consistent with forecasts, allowing for unforeseeable events. As per 2018–19
Foreign Investment Review Board support will be measured by the Regulator Performance Framework key performance indicators. Regulators do not unnecessarily impede the efficient operation of regulated entities. As per 2018–19
Communication with regulated entities is clear, targeted and effective.
Actions undertaken by regulators are proportionate to the regulatory risk being managed.
Compliance and monitoring approaches are streamlined and coordinated.
Regulators are open and transparent in their dealings with regulated entities.
Regulators actively contribute to the continuous improvement of regulatory frameworks.
Effective administration of portfolio bodies. Appointment processes are efficiently administered, including against the Australian Public Service Commission guidelines (where applicable). As per 2018–19
Administrative functions such as tabling reports, including annual reports, in Parliament are completed on time.
Effective administration of programs such as the National Partnership on Asset Recycling (NPA), the Small Business Regulatory Reform Agenda (SBRRA) bilateral schedules with state and territory counterparts. NPA: Statements of Assurance for milestone one and two payments are expected to be received by NSW, the ACT and the NT. n/a
SBRRA: Support finalisation of a bilateral schedule with each state and territory.
SBRRA: Assess state and territory delivery of any milestones scheduled for 2018–19 and arrange for relevant payment as appropriate. 2019–20 to
as per 2018–19

2021–22: n/a

Advance Australia's interests through effective support of international ministerial and senior official travel (including their attendance at the G20 and other international forums and bilateral economic dialogues). Focus the preparation of international meetings on advancing Australia's interests – open trade, resilient international financial system (including an adequate global financial safety net) and the stability of the Pacific region, including:

  • Clear articulation of Australia's interests in context setting.
  • Focus meeting briefs and interventions on advancing Australia's interests.
  • Provide efficient and effective logistical support.
As per 2018–19
Make payments to international financial institutions on behalf of the Government to promote Australia's interests.