Budgeting in Australia

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Presentation transcript:

Budgeting in Australia Context Successes Challenges

The Budget Process Key Elements to Success? Public support Principles - focus on transparency Fiscal ``rules`` or anchors Design and Implementation Forward estimates Accrual budgeting, measuring outcomes Cabinet structure, powerful central committees

The Budget Process Challenges Fiscal anchors The details: Spending control; asset target? Centralized process should help The details: Accrual accounting/budgeting - difficult to implement Measuring outcomes