12 May 2011
Budget deficit forecast of $22.6 billion in 2011/2012.
- Real GDP forecast to grow 4% in 2011/2012 (3.75% in 2012/2013) mostly from commodity exports and business investment.
- New business investment is expected to boom at 16% in 2011/2012 and 14.5% in 2012/2013 (underpinned by resources sector).
- Wages expected to grow 4% over the coming financial year.
- Inflation (underlying) expected to increase from 2.5% to 3% in June 2013.
- Household consumption expected to increase by 3.5% in 2011/2012 and 2012/2013.
- Dwelling investment soft at 1.5% under interest rate pressure.
- Exports expected to grow at 6.5% - again off the back of the resources sector.
2011/12 Budget (PDF)
The nip n tuck budget
Cutting back Government allowances and spending on incentives
Budget winners and losers
Reforms to tax compliance
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