« Back to Publications

Conservative financial management and external good fortune

In his commentary on the 2015 budget, Dr Jon Standford writes:

‘The starting point of the Budget was the commitment not to increase royalties, tax rates, or the rate of growth of fees and charges, to increase the net operating balance and to pay down General Government Sector debt while keeping public assets. As well there were election promises of increased spending to fulfill. Having cast the budget into such a conservative straight-jacket it required some skill or good fortune to escape these bounds. Adding to the difficulties of achieving the seemingly impossible, royalties from coal fell as a result of the slump in export prices while royalties from LNG are not flowing in as soon or in such quantities was previously envisaged. But this is not critical. Royalties are a low proportion of Total Revenue being less than six per cent.

‘How did the Treasurer do it? 

Read on … 

The TJRyan Foundation does not guarantee the accuracy, currency or completeness of any information or material available on this website. The TJRyan Foundation reserves the right to change information or material on this website at any time without notice. Links from this site to external, non-TJRyan Foundation websites should not be construed as implying any relationship with and/or endorsement of the external site or its content by the TJR Foundation, nor any commercial relationship with the owners of any external site. Should any TJRyan research project be funded by an individual or organisation the source of funding will be stated beside the research report. In all other cases contributions are provided on a pro bono basis.
Receive the latest news

Subscribe To Our Newsletter

Get notified about new articles

This field is for validation purposes and should be left unchanged.