Budget Review 2009–10
May 2009
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Index
Introduction
The second Rudd Government Budget, handed down on 12 May 2009, was framed amid a sharply deteriorating world economy and the first serious downturn in Australian economic activity since the early 1990s. This challenging global economic environment is creating anxiety among government policy makers around the globe as the appropriateness of the various policy responses are being openly debated in parliaments and through the media.
To assist parliamentarians in these demanding times, the Parliamentary Library is once again producing a Budget Review that examines the key features of a selection of crucial measures contained in the Budget. The first article, Budget 2009–10: Key features, provides a macroeconomic analysis and commentary of the Budget including the assumptions underpinning the Government’s fiscal policy and the main spending and taxing features contained in the Budget. The remaining articles examine the impact of Budget measures on a broad range of specific issues and initiatives.
The Budget Review 2009–10 has necessarily been prepared under time pressure with a view to making it available to parliamentarians as soon as possible. While great care has been taken to ensure that these articles are accurate and balanced, they are written using information publicly available at the time of production. It is not the intention of these documents to make value judgements about the relative importance of different measures or to provide a comprehensive overall assessment of the Budget.
Parliamentarians are invited to raise points requiring amplification or clarification directly with the research specialist concerned and any general comments on papers are also welcome. Any other feedback should be forwarded to me. Clients are also reminded that in addition to the Budget Review the Library publishes the Opinion and analysis of the Budget in the media page on our website.
Roxanne Missingham
Parliamentary Librarian
May 2009
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