Victorian Current Acts

FINANCIAL MANAGEMENT ACT 1994 - SECT 23D

    (1)     The principles of sound financial management are that the Government must—

        (a)     manage financial risks faced by the State prudently, having regard to economic circumstances;

        (b)     pursue spending and taxing policies that are consistent with a reasonable degree of stability and predictability in the level of the tax burden;

        (c)     maintain the integrity of the Victorian tax system;

        (d)     ensure that its policy decisions have regard to their financial effects on future generations;

        (e)     provide full, accurate and timely disclosure of financial information relating to the activities of the Government and its agencies.

    (2)     The financial risks referred to in subsection (1)(a) include—

        (a)     risks arising from the level of the State's general government sector debt;

        (b)     commercial risks arising from ownership of public non-financial corporations and public financial corporations;

        (c)     risks arising from changes in the structure of the Victorian tax base;

        (d)     risks arising from management of assets and liabilities of the State.

Division 3—Financial policy objectives and strategies statements

S. 23E inserted by No. 9/2000 s. 4.