The Victorian government aims to have the most efficient regulatory system in Australia and states that the time spent and costs incurred by business and the community dealing with excessive regulatory requirements is an unacceptable burden.

The Statement of Expectations (SOE) Framework and its related reporting requirements is designed to facilitate a dialogue between Ministers, departments and regulators to identify the government’s priorities and emerging risks and to establish a process for addressing these priorities through regulators’ business planning processes.

The Framework is intended to improve the administration and enforcement of regulation in Victoria to allow regulators to manage harms confronting the Victorian community more effectively.

The Framework is to be supported by best practice guidance being developed by the Commissioner for Better Regulation. This guidance is expected to be available from early 2022 and will be updated as required.