The “normal” budget of Australia’s government is about $1,700 billion, according to the latest economic assessment.
The Government’s fiscal year 2018-19 is due to be announced on Tuesday.
In the first quarter of 2019-20, the budget for the fiscal year was projected to be about $2.2 trillion.
However, according the Treasury, that figure includes spending on the NBN, the cost of new infrastructure and the cost to fund the pension and disability benefits for state workers.
“The government has been careful to make the case for its budgeting approach by not disclosing the full extent of the budget deficit, but it’s the budget forecast that the public and business community will take very seriously,” said the Parliamentary Budget Office.
Mr Abbott has previously said the budget is not an accurate measure of the Government’s spending.
But he said the Budget was “the budget of a Government that’s not in a recession”.
Mr Gillard has said the government’s “budget is not a reliable measure of its actual spending, and I know that some in the media are trying to push that line, but I’m not going to allow it,” he said.
He has also said the Government has kept the “budget of a strong, stable, prosperous economy”.
“We are not going backwards and we are not moving in the wrong direction,” he told reporters in May.
“[But] it is true that, under the budget, the Government is spending less on welfare and services and less on public transport and less and less in the community and it is also true that those are the only areas of expenditure that are not being made public.”
The Budget was a “very careful” process to ensure the Budget is balanced and it shows that the Government understands the needs of its citizens, Mr Gillard said.
“I believe that this budget is very, very carefully balanced, and that it is a very balanced budget,” he added.
Labor’s Federal Budget spokesman Michael McCormack said the “normal budget” was “a very important number for a country like Australia”.
“When you consider the fact that a country’s budget is in the balance, and we have been spending less than we used to, when you consider how much more we need to spend, when we need more jobs, when there are other things that we need for our children and grandchildren, it’s a very important numbers,” he explained.
“And it is very important for people to understand that they’re spending money that they would normally not.”
Topics:government-and-politics,economic-trends,budget,government-islamic-state,economy,federal—state-issues,business-economics-and/or-finance,national-security,canberra-2600,australiaFirst posted January 26, 2020 18:33:25Contact Paul O’DonnellMore stories from Western Australia