Appendix B Assessment against the fiscal target

This Budget sets a pathway to return to balance in 2015‑16 and to surplus by 2016‑17, improves the sustainability of Australia's public finances and builds on Australia's record of fiscal and economic strength. Decisions taken in this Budget will result in $43 billion of total savings and the net budget impact of policy decisions is a $28.4 billion improvement to the underlying cash balance over the forward estimates.

Appendix B - Assessment against the fiscal target
Estimates Projections
2012‑13
$m
2013‑14
$m
2014‑15
$m
2015‑16
$m
2016‑17
$m
Total
$m
Effect of policy decisions since MYEFO (a)
Spends-2,604-2,470-3,212-2,853-4,465-15,604
Payments-2,474-2,386-3,172-2,857-4,437-15,325
Receipts-130-83-414-28-278
Saves2461,7509,40015,17616,47143,043
Payments1721,4113,7565,6606,29517,294
Receipts753385,6449,51710,17525,749
Total effect of policy decisions
since MYEFO
-2,358-7206,18812,32412,00527,439
Add Contingency Reserve
offsets to policy decisions
443328977195998
Net budget impact of policy decisions-2,354-2866,47612,40112,20028,437

(a) On an underlying cash basis.