Found inside – Page 37Table 2: Common Fiscal Indicators Used in Other Countries Measure Used by ... primary balance excludes net interest payments from underlying cash balances. Found inside – Page 167Fiscal projections of the underlying cash balance in the medium-term fiscal outlook were extended to 20 years, along with more historical ... Found insideunderlying cash-budget balance measure which excluded privatization receipts. ... cash–budget result was regarded as the headline fiscal policy indicator. Found inside – Page 722Also of importance here is the fact that the earlier version of the government's fiscal rule focussed upon the underlying cash budget balance . The underlying cash balance excludes privatisation receipts from the conventional cash balance ... Found inside – Page 29Australia has given consideration to the issue of long-term fiscal ... of the underlying cash balance as part of the medium-term fiscal outlook for the ... Found inside – Page 30... -0.9 -0.3 -0.3 -0.2 Overall fiscal balance (cash basis, before interest rescheduling) Underlying fiscal balance (cash basis) 3 Domestic fiscal balance 4 ... Found inside – Page 11Risks to the outlook were seen as balanced, especially beyond the near term. ... its underlying cash balance, that is the fiscal balance (on a cash basis) ... Found inside – Page 350It uses the underlying cash balance, which equals the net cash flows arising from operating and investing activities.b Fiscal balance—equivalent to ... This 2005 Article IV Consultation highlights that Australia has implemented wide-ranging structural reforms and strengthened the frameworks for monetary and fiscal policies over the past two decades. Found inside – Page 128underlying cash balance approach ? ... government could announce all of a year's significant fiscal policy initiatives on one day probably never did exist . Found inside – Page 512At this point, it is worth noting that the underlying cash balance of each party is misleading. The Coalition's fiscal position relies on a raft of cuts to ... Found inside – Page 68influencing government spending and revenues , and the inherent uncertainty of the growth assumption underlying the budget projections . ... of the fiscal impulse provided over the previous two fiscal years , projecting a return of the underlying cash balance to a small surplus ... The significant improvement , compared to the May 2004 Budget estimates , largely reflects favourable developments in tax and ... Found inside – Page 58Accrual Accounting and Commonwealth Fiscal Policy Prior to the introduction of accrual accounting , the Commonwealth's headline fiscal policy indicator was the underlying cash balance . It was the cash budget balance which the Howard ... Found inside – Page 291First, cash flows can be adjusted for risk when present values are calculated. ... statement and balance sheet, rather than the underlying cash flows. This volume, edited by Mario I. Blejer and Adrienne Cheasty, is organized around four issues: the adequacy of summary measures of the fiscal deficit, conventional and adjusted deficits, coverage (size) of the public sector, and the public ... The 2012 budget, divided into two chapters and four annexes, sets out the Government's action to reform the tax system and also announces the next stages in their plans for the supply side of the economy alongside the strategy of further ... Executive Directors considered that the sound macroeconomic framework should permit Australia to weather the global downturn and contain inflationary pressures. Found inside – Page 28Federal budget consolidation since the global finance crisis Underlying cash balance % 2 of GDP 1 0 -1 -2 -3 -4 -5 2006-07 2008-09 2010-11 2012-13 2014-15 ... Found inside – Page 53that ' the Government is to ensure that its fiscal policy contributes to achieving adequate national saving and to moderating ... For the budget year , 2008-09 , the government has targeted an underlying cash balance excluding tax revenue ... Found inside – Page 8Labor has also accused the government of seriously underestimating spending commitments on care of the elderly in 2002-05 . The government uses the underlying cash balance as its preferred measure . However , when the fiscal balance ... Comprehensive fiscal reporting in line with international standards such as the IMF Fiscal Transparency Code and Government Finance Statistics Manual provides reasonable assurance about a government’s fiscal position and its integrity. Found inside – Page 363. “Underlying cash balance”, which equals to receipts less payments, less net Future Fund earnings. Fiscal year basis (i.e. 2015 data refer to 2014-15). Although the budget deficit is much discussed in political debate and economic research, there is no agreement on how it should be measured. This book takes stock of the most important innovations that have emerged over the past two decades. Found inside – Page 117Prior to fiscal year 1996-97, it referred to the headline cash balance, measured as the difference between revenue and cash outlays. Beginning in fiscal ... Based on this experience, these guidelines arose from the need to provide a general overview of the principles and practices observed in three key aspects of public expenditure management: budget preparation, budget execution, and cash ... Found inside – Page 6His forecasts in May 2002 were for a fiscal deficit of $ 3 billion , or 0.4 per cent of GDP , and for an underlying cash deficit of $ 1.2 billion , or 0.2 per cent of GDP . When the final figures were totted up , this is that they showed for 2001-02 : a ... Found inside – Page 33... MYEFO estimates -3 Underlying cash balance -4 Australian Government Budget The Mid - Year Economic and Fiscal ... showed a small increase in the expected Australian Government cash surplus compared with that projected in the May ... Found inside – Page 74Even though the gross debt has continued to increase since fiscal stimulus in ... Note: Fiscal balance is the federal government underlying cash balance and ... This book provides an invaluable guide for anyone wanting to know exactly what is at stake for Americans in this ongoing debate. "[An] excellent, comprehensive, and illuminating book. Found inside – Page 58Adherence to the fiscal objective of balancing the budget on average over the ... At the Commonwealth level, the underlying cash balance recorded a surplus ... Found insideThe level of income in that fiscal year would appear uninspired for no fault of the ... The underlying cash balance remains the primary measure of the ... Found inside – Page 529Official measures of the budget deficit are constructed (dropping the ... The fiscal balance is the Australian general government underlying cash balance. Found inside – Page 61Fiscal pressures from ageing at all levels of government Age-related government ... and are excluded from the calculation of the “underlying cash balance”. Found inside – Page 12627When compared to the $ 2.5 trillion in poor country debt , it is a drop in the ocean . ... According to the Mid - Year Economic and Fiscal Outlook , the starting point fiscal balance was a $ 3.4 billion surplus , the underlying cash balance was a ... Found inside – Page 68... Budget intended to remove some of the fiscal impulse provided over the previous two fiscal years,8 projecting a return of the underlying cash balance to ... Australian banks were resilient to the global crisis, and the labor market was flexible in the face of the shock. The exit from fiscal stimulus is appropriate as is the recent review of the tax system. This 2007 Article IV Consultation highlights that the lengthy expansion brought the Australian economy to a position of near full employment. Found inside – Page 108On 1995 / 96 1996197 1997198 1998 / 99 1999 / 00 ( In billions of Australian dollars ) Cash Basis Total revenue 121 . 7 131 . 0 137 . 0 146 . ... 7 24 2 Headline Budget balance Underlying balance 11 ( lo billions of Anstralian dollars ) Accrual Basis Total Revenue 143 . 1 148 . 3 152 . 7 169 . ... 5 Net Operating Surplus Adjustments 21 Fiscal Balance 31 Total Reveame ( la percent of GDP ) 26 . 9 26 . 3 27 . Found inside – Page 26Nonfinancial public sector balance 1.5 1.2 0.9 -0.2 -0.2 ... ... Fiscal accounts on a cash basis Commonwealth government Receipts ( including Future Fund earnings ) Payments Future Fund earnings Underlying cash balance 6 / 26.3 24.8 26.5 ... Found inside – Page 59... fiscal balance is projected to move into a small deficit in 2001-02 in accrual terms, returning to a surplus in 2003-04, while the underlying cash ... Found inside – Page 28The underlying cash balance excludes Future Fund earnings and cash flows for ... The “Business as usual series” notably assumes fiscal drag is allowed to ... Found inside – Page 30Fiscal Accounts ( cash basis ) 7 / Commonwealth government Revenue Underlying expenditure Underlying cash balance 8 / 24.2 24.0 0.2 24.7 24.0 0.7 26.4 24.3 ... Found inside – Page 178So, from year to year we have seen various treasurers talking about the fiscal balance, the underlying cash balance, the headline balance and the size of ... 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