Budget Strategy and Outlook
Budget Paper No. 1
The Honourable J. B. Hockey MP
Treasurer of the Commonwealth of Australia
Senator the Honourable Mathias Cormann
Minister for Finance of the Commonwealth of Australia
For the information of honourable members
on the occasion of the Budget 2015‑16
12 May 2015
© Commonwealth of Australia 2015
ISSN 1326-4133 (online)
This publication is available for your use under a Creative Commons BY Attribution 3.0 Australia licence, with the exception of the Commonwealth Coat of Arms, third party content and where otherwise stated. The full licence terms are available from the Creative Commons website.
Use of Commonwealth of Australia material under a Creative Commons BY Attribution 3.0 Australia licence requires you to attribute the work (but not in any way that suggests that the Commonwealth of Australia endorses you or your use of the work).
Commonwealth of Australia material used 'as supplied'.
Provided you have not modified or transformed Commonwealth of Australia material in any way including, for example, by changing the Commonwealth of Australia text; calculating percentage changes; graphing or charting data; or deriving new statistics from published statistics — then the Commonwealth of Australia prefers the following attribution:
Source: The Commonwealth of Australia.
If you have modified or transformed Commonwealth of Australia material, or derived new material from those of the Commonwealth of Australia in any way, then the Commonwealth of Australia prefers the following attribution:
Based on Commonwealth of Australia data.
Use of the Coat of Arms
The terms under which the Coat of Arms can be used are set out on the It's an Honour website.
Enquiries regarding this licence and any other use of this document are welcome at:
Parkes ACT 2600
Printed by CanPrint Communications Pty Ltd.
- The following definitions are used in this Budget Paper:
- 'real' means adjusted for the effect of inflation;
- real growth in expenses and payments is calculated using the Consumer Price Index (CPI) as the deflator;
- the Budget year refers to 2015‑16, while the forward years refer to 2016‑17, 2017‑18 and 2018‑19; and
- one billion is equal to one thousand million.
- 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.
- For the budget balance, a negative sign indicates a deficit while no sign indicates a surplus.
- The following notations are used:
- not applicable (unless otherwise specified)
- millions of dollars
- billions of dollars
- not for publication
- estimates (unless otherwise specified)
- projections (unless otherwise specified)
- not elsewhere classified
- 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:
- New South Wales
- Western Australia
- South Australia
- Australian Capital Territory
- Northern Territory
- 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 Paper No. 1: Budget Strategy and Outlook 2015‑16 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.