The Commonwealth Investment Framework
The Framework exists alongside other key applicable frameworks and requirements for Commonwealth entities, including the PGPA Act, which is the primary financial governance framework for the Commonwealth.
The Framework:
- supports the Government to undertake, facilitate and manage investments for program and project delivery, and ensure selection of the most appropriate mechanism to achieve the desired policy objectives;
- assists entities to develop best practice investment proposals for consideration by decision-makers ;
- ensures Commonwealth entities have the necessary tools and access to the relevant expertise to support Commonwealth investment; and
- creates the foundation for successful long term implementation and management of investment decisions from a whole-of-life investment perspective.
The Framework includes a Resource Management Guide (RMG) and a suite of Toolkits providing practical guidance materials and supporting resources. It brings together policy and best practice guidance related to the development of proposals for the management of major Commonwealth investments over their lifecycle.
Where the RMG provides guidance on what to do, the Toolkits provide guidance on how to do it, to ensure Commonwealth entities have access to relevant advice for all stages of the investment lifecycle.
Policy Objectives
The Government is committed to utilising the Commonwealth balance sheet to:
- support quality investments to make the most effective use of public funding, including unlocking private sector investment that delivers benefits for Australians
- boost national productivity performance and economic growth
- assist in stabilising and then reducing gross and net debt as a share of the economy.
With the right settings in place, the Government has an opportunity to use private sector and non-profit capital and capability to effectively and efficiently create and manage an appropriate set of public assets and initiatives. This can assist the Government to optimise its use of resources to support a broad array of policy priorities.
