Budget (1 Viewer)

[:XerO:]

Hey Guys, Just A Quick Q...
Wat The Hell's Goin' On Wit The Budget?? Deficit? Surplus? By How Much? I Heard That It's Now Gunna Be A Deficit Because Of The Drought And Cos The Rest Of The World Hasn't Recovered As Expected? Wat's The Deal?

 

[me]

2002/3 budget predicted a surplus of $0.2billion

 

[Simmo]

i thought it was $2.1 billion, or has that been revised?

 

[kaseita]

The underlying cash balance surplus is $2.1b, and the budget surplus is expected to be $0.2b next year

 

[Bambul]

The 2002/03 budget has a cash surplus of $2.1bn and a fiscal surplus of $200m. You can see the exact figures at the Budget Website. Just scroll down to about the middle.

 

[Porphyria_J]

I think the idea is that maybe you can qoute all the figures and so forth that is stated as people have been pointing out,

they predict a surplus - but obviously a budget is a BUDGET a forecast, so it changes as economic conditions change. I dont know if our economic conditions are going for the worse, as the budget surplus they predicted heavily relied on automatic inbuilt stabilsers, so unless our economic growth hasnt been as high as the govt predicted in its budget statement, then i presume that we are on our way to a deficit.

If you have been watching the news, you would have known that the nsw state govt (labour) has been copping out the fed govt on its lack of help for the people in drought...so i presume that the drought would have nothing to do with our budget - as of yet

Although, does anyone know if the govt has increased its defence spending since the Bali Bombings?

 

[kaseita]

not very significant defence spending, as far as I know, but it is one of the reasons why our fiscal surplus forecast is lower

the drought, and the hostile global climate has reduced growth by 0.7%, so it'll have an impact on the budget...

 

[!meeee!]

yeah, that's right

i wouldn't stress about next year's budet though. it's unlikely they'll give you a q, even short answer, on next year's budget
if it was a prediction about the future of fiscal policy it could be based on stimulus on a hypothetical economy