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Monitoring, Evaluation and Review

36. Packages 2 and 3 propose explicit trialling of some extended disclosure requirements that will require the Treasury and PCO to undertake ongoing monitoring of departmental experience in producing disclosure statements. Monitoring is an essential part of the risk management strategy for the Packages.

37. More generally, the proposed disclosures and supporting measures are new requirements that have not been extensively tested, and the nature and size of the behavioural impacts are necessarily speculative. Consequently, an eventual review of experience with the new arrangements will be essential to determining whether they are truly fit-for-purpose and cost-effective and whether amendments or additional measures may be desirable to further improve legislative quality.

38. Our 2011 RIS originally proposed a statutory independent review of the operation of the whole regulatory management system every 5 years as part of Option 5. Experience with statutory review clauses in other legislation, however, has shown them to be a mixed blessing. It has the merit of ensuring an actual review takes place (when intentions and promises are often forgotten or ignored in other circumstances), but anticipating the best timing up-front is hard, and the scope and quality of the review will depend on the enthusiasm of, and other pressures faced by, the responsible Minister or agency at that particular time.

39. On balance, we now suggest that any legislation include provision for a single independent review of the operation of that legislation, which must commence within 5 years of the legislation coming into effect and be completed and tabled within 12 months. Whether the review also addresses wider issues, and the timing of any further reviews, would be left to administrative discretion.

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