The manipulation of the level and composition of Federal Government receipts and outlays in order to assist in the achievement of economic and social goals in Australia
What is the overriding goal of Budgetary Policy?
The overriding goal of budgetary policy is to improve the living standards of all Australians.
Other goals:
Achieve the most efficient allocation of resources
Achieve the domestic macroeconomic goals of Strong and Sustainable Economic Growth, Low inflation and Full employment.
Difference between underlying cash balance and headline cash balance?
Headline is the difference between cash receipts and outlays
Underlying is headline, but WITHOUT volatile (non-recurring) payments.
Underlying does NOT include - Future fund earnings & Net Cash Flows from investments
