Under section 12A of the Independent Pricing and Regulatory Tribunal Act 1992 the Premier has asked the Tribunal to review the application of benchmarking to local government in New South Wales (NSW). The terms of reference for this review require the Tribunal to consider a number of factors, including the NSW Government policy statement, current performance benchmark models developed within Australia and overseas, and to demonstrate the practical application of benchmarking approaches to a range of local government functions.