Victoria scores A+ on Financial Scorecard
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4 April 2008
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Victoria has been ranked as the most fiscally transparent State in Australia according the latest Access Economics ratings.
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The Fiscal Transparency: Australian States and Territories report has ranked Victoria as A+, the only state ever to achieve the top ranking.
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Victorian Treasurer John Lenders said the ranking follows the Victorian Government’s policy to release project summaries showing the value-for-money achieved from public private partnerships within three months of the finalisation of the contractual and financial arrangements.
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“These rankings are important as it helps to inform public debate on issues, promotes greater accountability, enhances the quality of fiscal decision making, and provides greater certainty to private sector decision-makers,” Mr Lenders said.
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The fiscal transparency ratings are based on the Budget, Mid-Year Review and year-end reports released by all States and investigate areas of best practice reporting including relevance, comparability, consistency and neutrality.
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The report’s authors praised Victoria, noting that:
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We have upgraded Victoria by a notch, to the very highest ranking of A+. This completes Victoria’s rise up the rankings. Its year-end report now contains past year information for comparison with current year information, non-financial assets are disaggregated by department and function, and an extensive discussion is provided on infrastructure spending.
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A copy of the report is available at www.accesseconomics.com.au
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