The Investor Confidence Rating (ICR) was a 3-yearly assessment of the performance of investment-intensive agencies in managing investments and assets that are critical to the delivery of NZ government services.
The ICR provided an indication of the level of confidence that investors (such as Cabinet and Ministers) can have in an agency’s ability to realise a promised investment result if funding was committed.
ICR requirement removed
In August 2023, Cabinet agreed to cease the ICR because the design and execution of the ICR was not meeting the government’s needs for an accurate assessment of agency capability. It was resulting in significant compliance and consultancy costs for agencies and was not delivering on its value proposition.
Your current ICR still stands until its expiry date, including any uplifts to agencies financial approval thresholds that were approved as a consequence of their ICR.