Budget balance: underwriting Australia’s social compact



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In 2019, CEDA will release a report which asks if Australia has done enough to address its budget trilemma.
In 2016, CEDA published Deficit to Surplus: Budget repair options, outlining a series of measures that could return the budget to surplus in 2018-19. The federal government’s budget position has gradually improved with a surplus now in sight. But the real question is whether Australia has done enough to address the budget trilemma of:
  1. Achieving ongoing budget balances over the long-term to pay down debt.
  2. Sustainably funding Australia’s social compact, including critical services like health and ageing.
  3. Doing this with an efficient and robust tax base.
Addressing this trilemma is incredibly important to Australia’s economy and meeting the community’s expectations of Australia’s social compact.

In the lead-up to the next Intergenerational report due in 2020, this research report will:
  • Provide a preview of the long-term fiscal pressures Australian governments face; and
  • Outline the long-term shifts that Australia will need to make to expenditure programs, the tax base and budget transparency to address these pressures.
 This research will be launched in early March with events to following across the country.

Other recent CEDA research