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
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.
South Africa’s Justice Sisi Khampepe swears in David van Rooyen as the new Minister of Finance while President Jacob Zuma looks on.
EPA/Elmond Jiyane
The sudden expulsion of the finance minister makes it hard not to be pessimistic about the South African government’s ability to manage the difficult challenges it might face in 2016.
To successfully achieve his goal of boosting Australian prosperity, new PM Malcolm Turnbull and Treasurer Scott Morrison will need to bust some myths about economic reform.
A budget without bite for tackling a shortfall of homes.
FreddieBrown
In the wake of Monday’s attempted Liberal leadership spill, Australian Prime Minister Tony Abbott clearly needs to do something to shore up support. He’s been offered all manner of unsolicited advice…
The relationship between PM and treasurer can make or break a treasurer’s reign.
Lukas Coch/AAP
For a number of reasons, now is not a good time to be Australia’s federal treasurer. The resources boom has lost its mojo, the economy is faltering and the dollar is falling along with the terms of trade…
Predicting oil price movements is as risky as exploring for oil itself. The average price for crude fell 10.3% from the start of 2014 to the date of the Scottish independence referendum on September 18…
A new report from the Parliamentary Budget Office could help Joe Hockey sell his budget.
Nikki Short/AAP
Growth in government spending on big-ticket items including Medicare, public hospitals and the aged pension is expected to be less than real GDP growth over the next decade, according to the latest report…
Philip Murphy, School of Advanced Study, University of London
Royal finances have come under close scrutiny in recent days after the Public Accounts Committee told the royal household it must earn more and spend less – a bit like the rest of the country in an era…
A Whitehall CFO would interfere with the work at No. 10.
Bob Jenkin
The coalition’s latest wheeze is to create a new government Chief Financial Officer, similar to the position found in big corporations. This plan, concocted by Treasury minister Danny Alexander and Cabinet…
George Osborne long ago realised that policy programmes designed to avert crises do not win elections. What he has offered instead in his Autumn Statement is once again a simple trade-off of public austerity…