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ARTICLE · 04 MAY 2017

Value Creation and Capture Framework in Victoria: A first step in the right direction

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This VCC Framework represents a solid beginning, but a national framework and more detailed guidance is still required.

AustraliaReal Estate and Construction
Jane Hider
Jane Hider
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The Victorian State Government has become the first Australian state1 to issue a value capture and creation policy. The Value Creation and Capture (VCC) Framework issued on 21 March seeks to 'systematically harness' the potential of government investment to create additional value for the community. The Framework represents a solid beginning but a national framework and more detailed guidance is required.

VALUE CREATION V CAPTURE

Value Creation is the delivery of enhanced public value in economic, social or environmental outcomes above what would ordinarily be achieved as a direct consequence of the investment. Specific examples of value creation include improving productivity and accessibility, increasing asset value, protecting the environment, increasing social capital and unlocking commercial opportunities.

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