Government seeks input on Parliamentary Budget Office

The Victorian Coalition Government has today released for public comment a discussion paper outlining the Government’s proposed model for a Parliamentary Budget Office to conduct truly independent costings of election promises.

Minister for Finance Robert Clark said that the establishment of the independent office will help ensure Victorians can have full and impartial information about political parties’ election policy costings.

“In the past, various Australian governments have conducted Treasury-run election policy costing systems in the lead up to general elections. These systems have frequently been criticised because they fail to provide non-government parties with an assurance of independence from government.

“The establishment of a Parliamentary Budget Office will ensure an authoritative, independent and credible election costing service for parliamentary parties and independent MPs, and provide timely, relevant and readily understandable election policy costing information to the Victorian community,” Mr Clark said.

The Parliamentary Budget Office (PBO) will be headed by a Parliamentary Budget Officer who, like the Auditor-General and the Ombudsman, will be an independent officer of the Parliament.

The PBO will operate from 1 July in each election year until after the election, and will be subject to review and report to Parliament by the Victorian Auditor-General.

The PBO will cost proposed election policies on request from parliamentary parties and independent MPs, and will make each costing public following official announcement of the policy by the party or independent MP.

The PBO will also publish a Budget Impact Statement for each parliamentary party and independent MP, assessing the overall budget implications of their announced election policies.

“Given the important role the PBO will play in Victorian general elections, the Coalition Government wishes to ensure the community and all interested parties have the opportunity to provide feedback on the proposed model prior to finalisation of this reform,” Mr Clark said.

The discussion paper and further information on making a submission are available at www.dtf.vic.gov.au. The discussion paper will be open for public feedback until 29 October.