The ACT Government is inviting community members, businesses and local organisations to put forward their ideas for the coming Budget.
The Government has a record of responsible fiscal management, and the fundamentals of our economy remain strong. The Budget has a strong balance sheet, unemployment remains well below the national average and record infrastructure investment continues to support jobs and boost consumer confidence.
The ACT is on track to return to surplus in 2015-16. The 2012-13 Pre-Election Budget Update forecast a deficit of $117.6 million for 2013-14, before a return to surplus, as forecast, in 2015-16.
In the coming Budget, the Government will remain committed to maintaining investment in infrastructure and services. We will continue to boost frontline services to the community, and plan for long-term reforms, such as providing funding for the implementation of the National Disability Insurance Scheme and the Gonski education reforms.
However, the ACT Budget faces significant external risks, including reductions in Commonwealth revenue and expenditure, a moderating economy, softening own-source revenue and increasing service demand pressures.
As such, it is important that the 2013-14 Budget be considered in a context of fiscal restraint. In order to address rising service demand pressures and provide capacity for high priority commitments, the Government will seek further savings and efficiency measures in the 2013-14 Budget.
The Budget consultation process provides an important opportunity for the community to submit their views on what they believe the Government's revenue and resource allocation priorities should be in 2013-14 and future years. A formal invite and Budget information paper can be found at the Budget Consultation website
The information paper provides advice on the Budget context and consultation process, including information on the budget position and the parameters of the Budget Plan. It also contains details of major revenue and expenditure lines of the Budget.