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Economic policy advice and support

This output contributes to delivering strategic, timely and comprehensive analysis and advice on economic policy to support government decision making.

This output also contributes to strengthening Victoria’s economic performance through the activities of the Victorian Jobs and Investment Fund.

Performance measureUnit2022–23 target2022–23 actualVarianceResult
Quantity
New investment resulting from government facilitation services and assistance under the Victorian Jobs and Investment Fund$ million 15017114%*
The 2022–23 actual is higher than the 2022–23 target with a small number of projects having relatively high capital expenditure.
Jobs resulting from government facilitation services and assistance under the Victorian Jobs and Investment Fundnumber2,0001,308–35%***
The 2022–23 actual is lower than the 2022–23 target because the number of projects have been varied, rescoped or delayed in 2022–23, and in the case of several projects, cancelled. Factors underpinning this include market-wide challenges with identifying appropriate sites, labour/skills shortages and other economic drivers (including higher interest rates).
Quality
Key stakeholder satisfaction with advice and support relating to economic policy and land coordinationper cent8510018%*
The 2022–23 actual is higher than the 2022–23 target because all stakeholders who responded to the survey were satisfied or very satisfied with the advice and support relating to economic policy.
Timeliness
Provision of economic policy briefings within agreed timeframesper cent8581–5%**
Cost
Total output cost$ million34.433.3–3%**

Results legend

* Performance target achieved or exceeded in a desirable way

** Performance target not achieved — within 5 per cent or $50 million (cost measures only) variance

*** Performance target not achieved — exceeds 5 per cent or $50 million (cost measures only) variance

Updated