What Does Finance Do?
We sit at the heart of government decision making, and assist the government in shaping and delivering its agenda by providing high quality advice and services over a wide range of policy and program areas.
We engage on fiscal and economic matters – particularly in relation to the budget, spending, and better practice regulation. We deliver professional support to our ministers, parliamentarians and their staff, and to the government as a whole.
Some of the dynamic work delivered by Finance includes:
- supporting the delivery of the Federal Budget
- managing the government’s non-defence property and the sale of government assets
- driving the Australian Government’s deregulation agenda by working towards the simplification of government rules and regulations that impact industry
- managing the financial framework for Australian Government agencies
- providing advice and support to parliamentarians and their employees about their employment conditions
- maintaining shareholder oversight for Government Business Enterprises
- providing general insurance services to government agencies, and promoting improved risk management
- leading government in the application of new and existing information and communication technologies
|Did you know? The Minister for Finance is a joint shareholder in NBN Co. This means that Finance has a key role in developing and implementing the National Broadband Network (NBN).|
Five business groups manage Finance’s work:
- Budget Group advises the Minister for Finance, senior ministers and the Expenditure Review Committee of Cabinet on whole-of-government budgetary, financial and non-tax revenue policy issues and expenditure priorities. Budget Group supports the government in preparing, delivering and managing the Federal Budget.
- Governance and Resource Management Group (GaRM) develops and advises on the budgetary and financial framework relevant to public sector agencies. This includes advising on governance and accounting policy issues, on the government’s investment funds, and on superannuation arrangements for members of parliament and APS employees. GaRM also works across government to maintain Australia's position as a leader in the application of information and communications technologies to government administration, information and services.
- Deregulation and Review Group drives the government’s deregulation agenda. This involves providing advice on policy proposals with regulatory implications and developing an enhanced regulatory management framework. Deregulation and Review Group provides analysis and advice on longer term budgetary issues and trends on economic conditions affecting the Budget, conducts strategic reviews of major policies and programs as well as assisting the better evaluation of spending.
- Business, Procurement and Asset Management Group (BPAM) manages the Australian Government’s business and non-defence property assets, implements and manages the sale or divestment of such assets, handles residual business issues and is responsible for delivering all whole of government coordinated procurement services.
- Chief Operating Officer Group (COOG) delivers corporate services to the department and its employees, including facilities, security, legal, human resources and IT. COOG also provides advice and support to parliamentarians and their employees about their employment conditions.