NATSEM BUDGET WEBSITE
2016 Federal Budget
The 2016 Federal Budget was the most anticipated budget in decades. As a precursor to the Federal Election it provides government and opposition with an opportunity to pilot their key campaign messages and prove their credentials as the best managers of the Australian economy. The Coalition Government came to power under Tony Abbott late in 2013 promising to ‘get the budget back under control’ and to ‘start reducing debt’. The Coalition promised to achieve these outcomes with a low taxation agenda coupled with a desire to stop ‘wasteful spending’. Subsequently, the Turnbull government focused greater attention on the productivity agenda with the launch of the National Innovation and Science Agenda and its 24 measures to drive “change to the culture of our economy” and its intention to follow the UK City Deals model Agenda as a “new vehicle” for creating partnerships between all three levels of government to drive the sustainable growth of Australian cities.
The Institute's main work is focused on public policy and governance issues in Australia and sees the annual budget as the key policy instrument of the government of the day. Each year it draws on its well-developed economic and stimulation expertise to contribute to the debate about the budget and its impact on the Australia's economic and social directions. This website will provide a pathway to our analysis and policy contributions to that debate.
For 2016, our contribution involved direct analysis of key budget impacts; our budget luncheon seminar was attended by key government and opposition spokespeople, contributions from well-known economic and social journalists (Saul Eslake, Michelle Grattan, Tim Colebatch, Geoff Kitney) and analysis of reactions to the budget on social media.