Provision of economic, public finance, demographic and social analysis and policy advice to Government, including:
· analysis of the Territory economy;
· analysis of the Territory’s demography and population estimates;
· evidence-based social statistical analysis and advice;
· coordination of Government statistical needs and priorities;
· development and oversight of economic reforms and frameworks;
· management of Territory involvement in national economic policy initiatives, such as National Competition Policy; and
· management of the Territory’s participation in major intergovernmental financial arrangements and public finance matters, including policy advice on general and specific purpose payments.
The Economic and Social Analysis program is responsible for presenting a quantitative view of the Territory economy, including analysis of key social and demographic issues and data sets, as a basis for policy development by Government.
This involves:
· analysis of the current state and prospects for the Northern Territory economy;
· informing the Treasurer and key clients of latest economic and social indicators and analysis in a timely manner;
· continually improving the availability and quality of information about the economy, methods of analysis and procedures for providing advice;
· facilitating production of accurate population estimates for the Northern Territory through high quality Census and other data;
· undertaking research and project work to explore characteristics of the Northern Territory's demography and social environment to assist in policy development and decision making;
· facilitating improved awareness, quality and use of statistics across Northern Territory Government agencies; and
· increasing the effectiveness of Treasury’s contribution to the Northern Territory Government’s social policy development.
Economic Policy aims to ensure that the Territory’s financial and physical resources are applied in the most effective manner to protect and enhance the Territory’s long term financial and economic viability.
This involves:
· analyse and provide advice on the economic implications for the Territory of new policy proposals, major development proposals in which the Territory Government has an interest, microeconomic reform and prospective national economic developments;
· respond to Commonwealth reform initiatives and ensure that national economic reforms continue to recognise the Territory’s interests — this includes involvement in national policy initiatives, such as National Competition Policy in conjunction with the Chief Minister’s and Attorney-General’s Departments;
· the development of the policy framework for the Territory’s government businesses and respond to competitive neutrality complaints regarding breaches of competitive neutrality principles received against government business activities;
· conduct prudential supervision of the Territory Insurance Office; and
· coordinate assessment of foreign investment proposals affecting the Territory that have been submitted to the Foreign Investment Review Board.
This involves the following functions:
Public Finance’s purpose is to provide advice to Government on inter-governmental financial issues, and to develop and analyse strategies to maximise revenue streams to the Territory from Commonwealth sources, whilst ensuring flexibility in the use of those funds is maintained. Public Finance monitors and reviews all major intergovernmental financial arrangements affecting the Territory, and provides strategic advice to Government to ensure the flow of funds to the Territory is optimised.
Public Finance also monitors and advises Government on the fiscal performance of the Commonwealth, States and Territories, and prepares briefings on financial matters addressed in inter-governmental forums such as the Ministerial Council, Loan Council, Heads of Treasuries and the Council of Australian Governments.
In addition, the program prepares and coordinates submissions and returns to the Commonwealth Grants Commission.
This involves the following functions:
· advise and participate in negotiations between the Territory, the Commonwealth, and the other States, regarding inter-governmental financial relations;
· prepare submissions for presentation to the Commonwealth Grants Commission, and represent the Territory in discussions with the Grants Commission; and
· conduct specific research and prepare reports and briefings on matters arising from Ministerial Council and other inter-governmental forums.