Robertson [Minister of Finance] announced he would soon go to Cabinet with a proposal to improve strategic planning and reporting, "testing a fundamentally different approach with one or two pilots."
"I won’t go into detail now, because we are still in the very early stages, but our proposal is that each pilot will put a spotlight on a specific long-term issue," he said, adding agency leaders would be asked to present scenarios and choices and create "multi-year pathways underpinned by milestones and indicators."
The Government had already done a baseline review of the Ministry of Social Development and planned one for Defence. Other departments could start looking forward to their baseline reviews, he said.
"I am not sure the creators of the act would approve of all the changes that I am proposing, but I hope they would admire the reforming spirit that I am approaching them with. It is time, 30 years on, to bring the PFA into the 21st century and put wellbeing and collaborative government at the centre of our approach."
Robertson denied to reporters the wellbeing measures would replace or be prioritised over prudent debt management. He referred to the recent change to widen the Government's net debt target from a point of 20 percent of GDP to a range of 15-25 percent. Currently, net debt is 19.3 percent of GDP.
"We could still borrow significantly more money and in my mind meet that objective, but it has a context, and it's the context we're now enhancing by putting the wellbeing objectives in," he later told reporters.
Source:
Robertson eyes big Public Finance Act reform