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The Treasury's economic overview

12 May 2011

Key points

    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.

Download Treasury documents

Key Budget media releases

More information

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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Disclaimer

This article is provided for information purposes only and correct at the time of publication. It should not be used in place of advice from your accountant. Please contact us on 02 9957 4033 to discuss your specific circumstances.

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