THE national accounts are the most important piece of data for updating forecasts in the budget or the mid-year budget review, a Senate hearing has been told.
Acting Treasury secretary Nigel Ray, who was standing in for the absent Martin Parkinson at the Senate budget estimates hearing in Canberra on Thursday, said it takes weeks to do a full forecasting round once the national accounts have been released.
The June quarter national accounts were released in the first week of September.
Mr Ray said the earliest the Mid-Year Economic and Fiscal Outlook (MYEFO) has been released in the past was October 15.
"The other most important piece of information for putting together either a budget or MYEFO, and usually the last thing we get, is government decisions," Mr Ray said.
He also noted that under the charter of budget honesty, MYEFO can be released as late as January 31.
Questioning about the timing of MYEFO to Treasury's fiscal group, that has the lead role in compiling MYEFO for the government, came against the backdrop of speculation that Treasurer Wayne Swan will release the budget update next week.
Mr Swan has said that most of the information needed for MYEFO regarding the global economy is already in.
Opposition Leader Tony Abbott told reporters in Melbourne the government was planning an earlier than usual MYEFO release to hide the truth about its financial woes.
A spokesman for Mr Swan this was "pretty rich" coming from Mr Abbott.
"Mr Abbott ... leads an opposition that has admitted on live television it has a $70 billion crater in its budget, whose 2010 election auditors were fined for professional misconduct and who hires catering companies to do their costings," he said.
Anda sedang membaca artikel tentang
National accounts key to budget update
Dengan url
http://perjuanganpanjang.blogspot.com/2012/10/national-accounts-key-to-budget-update.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
National accounts key to budget update
namun jangan lupa untuk meletakkan link
National accounts key to budget update
sebagai sumbernya
0 komentar:
Posting Komentar