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2004-05 BUDGET PAPER No. 1

 

BUDGET STRATEGY

AND OUTLOOK

2004-05

 

CIRCULATED BY

THE HONOURABLE PETER COSTELLO MP

TREASURER OF THE COMMONWEALTH OF AUSTRALIA AND

SENATOR THE HONOURABLE NICK MINCHIN

MINISTER FOR FINANCE AND ADMINISTRATION

FOR THE INFORMATION OF HONOURABLE MEMBERS

ON THE OCCASION OF THE BUDGET 2004-05

11 MAY 2004


 

Commonwealth of Australia 2004

ISBN 1 74149 132 0

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 available from the Department of Communications, Information Technology and the Arts. Requests and inquiries concerning reproduction and rights should be addressed to:

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GPO Box 2154

CANBERRA ACT 2601

Or posted at:

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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 non-farm Gross Domestic Product deflator;
    • Budget year refers to 2004-05, while the forward years refer to 2005-06, 2006-07 and 2007-08; 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
AEST Australian Eastern Standard Time
- nil
na not available
nfp not for publication
(e) estimates
(p) projections
$m $ million
  1. 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/Vic Victoria
QLD/Qld Queensland
WA Western Australia
SA South Australia
TAS/Tas Tasmania
ACT Australian Capital Territory
NT Northern Territory
  1. 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 2004-05 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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