The Treasury has launched a new cost benefit analysis tool to support evidence-based investment decisions across the social sector.
Known as CBAx, the tool is a spreadsheet-based resource that contains a database of impacts which will help organisations assess the likely costs and benefits of policy initiatives.
Treasury Secretary Gabriel Makhlouf said the development of CBAx was another important step in implementing a whole-of-sector social investment approach and reinforced the strong financial management of the Crown's resources.
"This is another important step in the way Government develops social policy with a strong focus on improving the lives of New Zealanders,” said Mr Makhlouf.
"We are already using data effectively to better understand those who rely on a range of social sector and other public services, as well as those needs that are not currently being met.
"CBAx will be a useful resource for agencies and service providers by offering more detailed insight into the benefits of investing in a particular approach or intervention.
"For example, the likely long-term health or criminal justice system benefits of an education initiative can be incorporated as part of the decision-making process."
While the CBAx tool was designed with social sector agencies in mind, it can also be used to help calculate return on investment for a range of other initiatives.
Further information is available on: http://www.treasury.govt.nz/publications/guidance/planning/costbenefitanalysis/cbax
Media contact:Deborah Cuzens | Communications, The Treasury
Tel: +64 4 890 7415
Email: [email protected]