BUDGETARY POLICY

Budgetary Policy
1. Aims
  1. Low inflation
  2. Equitable distribution of income
  3. Economic Growth and Full employment
  4. External stability
2. Main Elements
  1. Budget revenues (Receipts)
    1. Taxes
  2. Budget Expenses (outlays)
    1. Welfare
    2. Education
    3. Health
  3. Non-Tax revenue
3. Federal Budget Revenue
  1. Direct Tax
    1. Company Tax
      1. PAYG
        Fringe Benefits Tax (FBT)
        Capital Gains Tax (CGT)
        Superannuation Tax
        Medicare levy
  2. Indirect Tax
    1. Excise Duty Tax
      1. Carbon Tax
        Tariffs
        Goods and Services Tax (GST)
  3. Non-tax revenue
    1. Government Business enterprises (GBE)
4. Federal Budget Expenses
  1. Welfare
  2. Health
  3. Defence
  4. Education
  5. Transport
  6. General Public Services
Budget Deficit
1. Overseas borrowing
  1. NFD
2. Borrow from the RBA
3. Borrow from the Australian Public
Budget Surplus
1. Repay Debt
2. Save with the RBA
3. Special savings fund
  1. Futures fund
Stabilisers
1. Automatic
  1. WITHOUT Treasurer deliberately changing
    1. PAYG
    2. GST
2. Discretionary
  1. WITH Treasurer deliberately changing
    1. PAYG- Bracket shift
    2. Company Tax
Budget Headline Balance
1. Includes Volatile events
Budget Underlying Balance
1. Excludes Volatile events
Government stance
1. Expansionary
  1. Loosen Policies- Increased economic growth
2. Contractionary
  1. Tighten Policies- Decreased economic growth
3. Neutral
Effectivness
1. Advantages
  1. Targets all Goals
2. Disadvantages
  1. Long Lag time
    1. Pro-cyical
  2. Political

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BUDGETARY POLICY

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	Erstellt von Nathan Hick vor mehr als 9 Jahre