Articles on Treasury

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If wages just grow at the rate of the last 12 months, rather than at the higher growth in the budget forecasts, income tax collections will be A$7 billion less for 2019-20. Joel Carrett/AAP

Why biased budget forecasts make poor politics

Wonky forecasts show it's time for a new approach that adopts more conservative forecasts, and makes a genuine commitment to budget repair.
Former Finance Minister Pravin Gordhan flanked by Deputy Minister Mcebisi Jonas and Director General Lungile Fuzile. GCIS

South Africa must look beyond individuals to solve the current crisis

The framing of the prevailing political protests in South Africa shows too much focus on the role of individuals. This is dangerous in hearkening back to the flawed Great Man Theory.
South Africa’s Minister of Finance Pravin Gordhan flanked by his deputy Mcebisi Jonas and Director-General Lungisa Fuzile. GCIS

Explainer: the nitty-gritty of South Africa’s annual budget

A lot more goes into the making of South Africa's final national budget than many people realise. The process involves extensive legalities designed to ensure public oversight.
Eskom power lines. South Africa’s power utility may be in a much weaker financial position than generally appreciated. EPA/KIM LUDBROOK

Why South Africa’s power utility isn’t in great financial shape

A closer look into the latest financial numbers of South Africa's state power utility, Eskom, suggest that it may be in a more vulnerable position than appreciated.
The Federal Budget is put together by the Department of Finance and Treasury, unlike PEFO. Mick Tsikas/AAP

Australia needs a better independent fiscal agency

The Pre-election Fiscal Outlook shows two things, the ridiculousness of 10 year forecasts and that we need a tougher Parliamentary Budget Office.
South Africans take their cue from what Finance Minister Pravin Gordhan says about the country’s economic outlook. Reuters/Mike Hutchings

Economic forecasting: why it matters and why it’s so often wrong

Forecasts are crucial for all economic and business activity. But looking into the future involves uncertainty and risk. Forecasts may be inaccurate, which creates a serious dilemma for policy makers
Treasury secretary John Fraser says if Australia were to permanently reduce net debt, it would have to achieve sustained structural budget improvements. Lukas Coch/AAP

Don’t be complacent about Australia’s top credit rating: Treasury secretary Fraser

Australia should not be complacent about maintaining its top credit rating, which depends on achieving budget repair and a more diverse economy, Treasury secretary John Fraser has said.

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