Portfolio Budget Statements 2008-09 

• 2.1 Outcomes and performance information

2.1 Outcomes and Performance Information

The Australian Government requires agencies to measure their intended and actual performance in terms of outcomes. Government outcomes are the results, impacts or consequences of actions by the Government on the Australian community. Agencies are required to identify the output groups which demonstrate their contribution to Government outcomes over the coming year.

Each outcome is described below by output groups, specifying the performance indicators and targets used to assess and monitor the performance of IBA in achieving government outcomes.

2.1.1 Outcome 1: Stimulating the economic advancement of Aboriginal and Torres Strait Islander peoples

Outcome 1 Strategy

IBA creates opportunities for participation by Indigenous Australians in the mainstream economy by building their asset base.

IBA utilises a suite of commercially focused Indigenous economic development programs to enhance Indigenous economic self management and self sufficiency. IBA delivers flexible and concessional interest rate loan products and aftercare support to improve Indigenous home ownership on freehold and Indigenous land. IBA also provides concessional interest rate business loans and business support to increase Indigenous ownership of small to medium sized enterprises. For larger investment projects, IBA brings together private sector capacity partners with Indigenous individuals and groups, co-investing in joint venture projects that provide both commercial returns and a direct transfer of business skills and acumen to Indigenous partners.

Outcome 1 Resource Statement

Table 2.1.1 provides additional detail of Budget appropriations and the total resourcing for Outcome 1.

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Contributions to Outcome 1

Output Group 1.1: Equity and Investments

IBA Investments brings together Indigenous Australians and industry capability partners into sustainable commercial ventures which provide for profit distribution, employment opportunities and asset accumulation.

Output Group 1.2: Home Ownership

Output Group 1.2 aims to provide an affordable entry into home ownership for Indigenous people, particularly those on lower incomes. The Home Ownership Program is focused on first home buyers who have difficulty obtaining home loan finance from mainstream commercial lenders. The program's success is assessed in terms of increasing Indigenous home ownership rates so that they are closer to that of the wider Australian community.

Output Group 1.3: Business Development and Assistance

This program will assist Indigenous people to establish, acquire and grow viable businesses, thereby contributing to employment, wealth creation and participation in the economy. The program is aimed at those Indigenous people who are unable to access private sector finance. The success of the program is assessed on how effectively it assists Indigenous people to develop successful businesses.

Output Group 1.4: Home Ownership on Indigenous Land

Output Group 1.4 aims to provide incentives and affordable loans aimed at making home ownership a realistic choice for Indigenous people living on community titled land.