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Foreword

There are always more ideas and opportunities than there are resources, so part of our role as the Government is to use those limited resources wisely to select the investments that together make the biggest difference to New Zealanders' lives.

This Government is investing in the projects that matter, including providing more homes, delivering new schools and hospitals, supporting particular regional challenges such as Auckland's infrastructure and the Canterbury recovery, and continuing to transform public services.

We make these investments not to create assets, but to solve problems and get better outcomes. This year I asked officials to do more to ensure high-quality benefits planning and management—not just to get what we paid for—but to make the most of the opportunities created by our investments.

It is important to make sure our investments deliver on their promised benefits. The public sector should understand the risks of investing public capital and deliver efficiently and without waste. I expect our existing assets to be well looked-after, because careful management of our resources allows us to pursue more ideas and opportunities.

It is good to see that new information is being collated about government's investments and assets, and incentives are now in place to understand how they perform, make sure they are managed effectively, and ensure important services remain available.

Alongside the assets we own, we make use of the assets of others by contracting providers to deliver services on our behalf. Given the scale of some of these contracts, it is important that New Zealand Government Procurement has launched a framework to help government manage its significant service contracts.

In the first of these reports last year, I said I wanted New Zealanders to have better access to investment information. This information is becoming more and more accessible - most recently the new Investor Confidence Ratings have been released alongside the Treasury's regular releases of the investment and capital pipelines, and Major Projects Performance Report.

This progress is encouraging, but the job is not done. More action and innovation is needed to continue to improve in important areas such as benefits and asset management. I expect active stewardship from the Corporate Centre, so that the investment system delivers the best value for New Zealanders, not just today but for decades to come.

Hon Bill English
Minister of Finance

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