Thursday, 14 November 2013
Commonwealth Inscribed Stock Amendment Bill 2013; In Committee
When the Mid-Year Economic and Fiscal Outlook is out, as I referred to before, that will lay out very clearly the time path for spending, for taxation, for the budget balance, for Commonwealth government securities on issue and for the rest. I run a risk trying to mentally add up on my feet whatever decisions are being taken by the government since we came to office, and I will not do that. The authoritative source for this—in a transparent way, with nothing hidden—will be the Mid-Year Economic and Fiscal Outlook. As I answered Senator Milne's implicit query before: with a peak of $370 billion and a buffer of $40 to $60 billion, we are already talking about $410 to $430 billion on current indications, without taking into account, for example, any other deterioration in the economy, which would have a further adverse impact on budget finances.