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BUDGET STRATEGY AND OUTLOOK

BUDGET PAPER NO. 1
2009‑10

Circulated BY

THE HONOURABLE WAYNE SWAN MP

TREASURER OF THE COMMONWEALTH OF AUSTRALIA

AND

THE HONOURABLE LINDSAY TANNER MP

MINISTER FOR FINANCE AND DEREGULATION
of the Commonwealth of Australia

FOR THE INFORMATION OF HONOURABLE MEMBERS

ON THE OCCASION OF THE BUDGET 2009‑10

12 MAY 2009

© Commonwealth of Australia 2009

ISBN 978-0-642-74513-2

This work is copyright. Apart from any use as permitted under the Copyright Act 1968, no part may be reproduced by any process without prior written permission from the Commonwealth. Requests and inquiries concerning reproduction and rights should be addressed to the:

Commonwealth Copyright Administration
Attorney‑General's Department
3‑5 National Circuit
BARTON ACT 2600

Or posted at:

http://www.ag.gov.au/cca

Internet

The Commonwealth budget papers and budget related information are available on the central Budget website at: www.budget.gov.au

Printed by CanPrint Communications Pty Ltd

Notes

1. The following definitions are used in this Budget Paper:
   • 'real' means adjusted for the effect of inflation;
   • real growth in expenses is measured by the Consumer Price Index (CPI) deflator;
   • the Budget year refers to 2009‑10, while the forward years refer to 2010‑11, 2011‑12 and 2012‑13; and
   • one billion is equal to one thousand million.
2. Figures in tables and generally in the text have been rounded. Discrepancies in tables between totals and sums of components are due to rounding:
   • estimates under $100,000 are rounded to the nearest thousand;
   • estimates $100,000 and over are generally rounded to the nearest tenth of a million;
   • estimates midway between rounding points are rounded up; and
   • the percentage changes in statistical tables are calculated using unrounded data.
3. For the budget balance, a negative sign indicates a deficit while no sign indicates a surplus.
4. The following notations are used:

   NEC/nec

   not elsewhere classified

   -

   nil

   na

   not applicable (unless otherwise specified)

   (e)

   estimates (unless otherwise specified)

   (p)

   projections (unless otherwise specified)

   $m

   $ million

   $b

   $ billion

5. The Australian Capital Territory and the Northern Territory are referred to as 'the Territories'. References to the 'States' or 'each State' include the Territories. The following abbreviations are used for the names of the States, where appropriate:

   NSW

   New South Wales

   VIC

   Victoria

   QLD

   Queensland

   WA

   Western Australia

   SA

   South Australia

   TAS

   Tasmania

   ACT

   Australian Capital Territory

   NT

   Northern Territory

6. In this paper the term Commonwealth refers to the Commonwealth of Australia. The term is used when referring to the legal entity of the Commonwealth of Australia.

   The term Australian Government is used when referring to the Government and the decisions and activities made by the Government on behalf of the Commonwealth of Australia.

Budget Strategy and Outlook 2009‑10 is one of a series of Budget Papers that provides information to supplement the Budget Speech. A full list of the series is printed on the inside cover of this paper.

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