A new biosecurity investment decision framework to promote more efficient biosecurity policy

Australian governments spend millions of dollars each year on pre border, border and post border biosecurity programs. While the resourcing of some of these programs is determined by existing deeds of agreement, others, particularly in relation to environmental and social pests and diseases, fall outside of existing decision frameworks. This paper presents a new biosecurity investment decision framework based on economic principles that aims to produce more objectively determined decisions. It determines whether a role for government exists in relation to a specific problem through the application of market failure tests and then guides the user to the most efficient cost recovery mechanism. The framework is presently under active consideration for use by Industry & Investment NSW and would be suitable for wider application.