8.3 Recommendation 

Support economic development by recognising the value of investment in social infrastructure. 

Proposed sponsor: Infrastructure Australia 

Supported by: State and territory infrastructure bodies, Australian Treasury

When this should impact:

Where this should impact:

8.3.1 Guide better social infrastructure investment by developing a consistent, national valuation framework that captures, measures and assesses the quadruple-bottom-line benefits of social infrastructure. 

Proposed lead: Infrastructure Australia 

Supported by: State and territory infrastructure bodies

Guide social infrastructure investment by establishing a cross-jurisdictional, multi-sector panel to lead the collaborative development of an overarching social infrastructure valuation framework. This will strengthen existing approaches and draw on expertise from government, industry, environmental, First Nations and community leaders. 

Proposed lead: Infrastructure Australia 

Supported by: State and territory infrastructure bodies

Support the effective evaluation of the economic contribution of social infrastructure by developing associated tools, methodology and guidance materials that can be used by infrastructure providers. 

Proposed lead: Infrastructure Australia 

Supported by: State and territory infrastructure bodies

Enhance investment decisions by continuously improving and updating the framework by sharing information and best practice. Support the development of evaluation approaches for specific social infrastructure sectors to fill out the framework. 

Proposed lead: State and territory infrastructure bodies 

Supported by: State and territory treasuries, state and territory education departments, state and territory health departments, state and territory housing departments, state and territory justice departments

8.3.2 Support healthy and productive futures for all Australians by establishing a consistent approach to capturing, measuring and assessing the quadruple-bottom-line benefits of social and affordable rental housing. 

Proposed lead: National Regulatory System for Community Housing, state and territory social housing providers, community housing providers, Department of Social Services, Australian Treasury 

Supported by: Australian Institute of Health and Welfare, Australian Bureau of Statistics, Infrastructure Australia

Assess the quadruple-bottom-line benefits of social and affordable rental housing by building on existing frameworks and developing an agreed, consistent approach to measuring its economic impact. Use the approach to inform and support the national valuation framework. 

Proposed lead: Department of Social Services, state and territory social housing providers, community housing providers 

Supported by: State and territory treasury departments, Australian Institute of Health and Welfare, Australian Bureau of Statistics, National Regulatory System for Community Housing

Harmonise the collection and availability of data across different government departments and housing sectors by developing a housing and homelessness reporting process and dataset that are comprehensive and consistent. 

Proposed lead: Department of Social Services, state and territory social housing providers, community housing providers, Australian Treasury 

Supported by: State and territory treasuries, Australian Institute of Health and Welfare, Australian Bureau of Statistics, National Regulatory System for Community Housing

Deliver improved social and affordable rental housing outcomes by adopting the quadruple-bottom-line approach to prioritise investment. 

Proposed lead: State and territory social housing providers, community housing providers, National Housing Finance and Investment Corporation, Australian Treasury 

Supported by: Department of Social Services

8.3.3 Drive economic growth and improve social cohesion and liveability by establishing a consistent approach to capturing, measuring and assessing the quadruple-bottom-line benefits of arts, culture, green, blue and recreational infrastructure. 

Proposed lead: State and territory treasuries 

Supported by: State and territory arts, cultural, recreational and tourism departments, local governments

Improve growth and liveability by assessing the quadruple-bottom-line of arts, culture, green, blue and recreation infrastructure, building on existing frameworks and developing an agreed, consistent approach to measuring its economic impact. Use the approach to inform and support a national valuation framework. 

Proposed lead: State and territory arts, cultural, recreational and tourism departments, state and territory planning departments 

Supported by: Local governments, communities

Catalyse economic development by using the new framework to collaboratively plan, develop and invest in arts, cultural, green, blue and recreational infrastructure that enhances unique regional identities and brands. Apply this approach when planning new precincts and renewal projects. Update existing plans every five years. 

Proposed lead: State and territory arts, cultural, recreational and tourism departments, state and territory planning departments, state and territory economic development departments 

Supported by: Local governments, communities

8.3.4 Support and protect economic growth and the environment by valuing Australia's significant natural assets and their quadruple bottom line benefits. 

Proposed lead: Department of Agriculture, Water and the Environment 

Supported by: State and territory environment departments

Inform and prioritise investment by developing a framework to assess the quadruple bottom line of significant natural assets, building on existing frameworks and developing an agreed, consistent approach to measuring their economic impact. Use the approach to inform and support a national valuation framework. 

Proposed lead: State and territory environment departments 

Supported by: Department of Agriculture, Water and the Environment

Inform decision-making by developing an agreed and integrated register of significant natural assets, with a stocktake undertaken by individual levels of government. 

Proposed lead: State and territory environment departments 

Supported by: Department of Agriculture, Water and the Environment