An assessment of the budget
On Wednesday 14th March 2014 Professor John Quiggin, an Australian Laureate Fellow in Economics at the University of Queensland, presented a well-attended seminar on the ‘Assessment of the Budget’. Professor Quiggin reviewed the macroeconomic parameters of the budget and addressed such questions as: what are the highest priorities for fiscal policy at present? Does the Commonwealth have a potentially damaging level of public debt? What are the likely impacts of international economic conditions on Australia during 2014-15? Are the spending decisions cost effective means for achieving desirable outcomes? What are the longer-term implications of the budget strategy on fiscal capacity for service provision to an ageing population?