Guide to Budget Documents
A number of documents are released on Budget day. The purpose of these documents is to provide information about the Government's fiscal intentions for the year ahead and the wider fiscal and economic picture.
The documents released on Budget day are as follows:
Budget at a Glance
The Budget at a Glance is the overview of all the Budget information and contains the main points for the media and public. This summarises the Government's spending decisions and key issues raised in the Budget Speech, the Fiscal Strategy Report, and the Budget Economic and Fiscal Update.
Capital at a Glance
The Capital at a Glance is the overview of the Government’s capital investment and contains the main points for the media and public. This summarises the Government’s new capital investment decisions in Budget 2017 and the overall actual and forecast investment of the Government as a whole.
The Budget Speech is the Budget Statement the Minister of Finance delivers at the start of Parliament's Budget debate. The Budget Statement generally focuses on the overall fiscal and economic position, the Government's policy priorities and how those priorities will be funded.
Summary of Budget Initiatives
The Summary of Budget Initiatives lists and describes the new initiatives included in Budget 2017.
Fiscal Strategy Report
The Fiscal Strategy Report sets out the Government's fiscal strategy in areas such as the balance between operating revenues and expenses, and its debt objectives. The report includes the Government's long-term fiscal objectives and short-term fiscal intentions plus fiscal trends covering at least the next 10 years.
The Government must explain changes in the Fiscal Strategy Report from the Budget Policy Statement and the previous year's Fiscal Strategy Report and any inconsistencies between these documents.
Budget Economic and Fiscal Update
The Update includes Treasury's economic forecasts and the forecast financial statements of the Government incorporating the financial implications of Government decisions and other information relevant to the fiscal and economic outlook.
The Estimates of Appropriations
The Estimates outlines for the financial year about to start (the Budget year) expenses and capital expenditure the Government plans to incur on specified areas within each Vote, and capital injections it plans to make to individual departments. The Estimates is organised into 10 sector volumes, with each Vote allocated to one sector. Supporting information in the Estimates summarises the new policy initiatives and trend information for each Vote and provides information on what is intended to be achieved with each appropriation in a Vote and how performance against each appropriation will be assessed and reported on after the end of the Budget year.
The Supplementary Estimates of Appropriations
The Supplementary Estimates outlines the additional expenses, capital expenditure and capital injections to departments required for the financial year about to end. Supporting information for each Vote provides reasons for the changes to appropriations during the year, related changes in performance information and full performance information for new appropriations.