Making the best use of our finances
MBIE is focused on the efficient and effective delivery of its outcomes, reducing overall costs and making sure it is well prepared to realise the Government’s priorities.
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We have been making sure we can respond flexibly to future demands including bringing together like functions and teams; better using the skills, experience and capabilities of our people; and automating processes to allow us to place greater focus on providing services for the people we serve.
MBIE has continued to look at how the organisation best operates in a tighter financial environment, including its programmes of work, financial position, and the size and capability of its workforce. We need MBIE’s operational and financial structures to be sustainable over the long term. This lets us plan and prioritise, making sure our resources achieve positive outcomes efficiently and effectively for New Zealanders.
Managing the performance of our investments and assets
MBIE has an asset base largely composed of technology assets and property assets. Our assets support our ability to successfully meet our strategic intentions. We have a responsibility to make sure these assets are managed in a way that balances service levels, risk and affordability.
Our investment plan responds to the various roles and responsibilities we have across regulatory systems, sectors, industries and regions. From 2024/25, we will shift to a 4-year investment plan to undertake strategic programmes of work that support the delivery of MBIE-wide strategic priorities first. Our critical assets register also helps us prioritise where we invest. A focus for MBIE is making sure its investments deliver value for money. We will be tracking the benefits that are gained through our investments.
These will be reported in our annual reports.