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A consultation paper on the budget treatment of Future Fund costs has been jointly prepared and released today by the Department of Finance and Deregulation and the Department of the Treasury.
As foreshadowed in the 2012-13 Budget, the Government has decided to review the current budget treatment of the Future Fund and asked the Department of Finance and Deregulation and the Department of the Treasury to undertake consultation on this issue, which will be facilitated by the release of this paper.
The paper examines the current treatment of the Future Fund’s costs in respect of the calculation of the underlying cash balance and discusses alternative treatments and their effects on the budget and the Government’s fiscal policy settings.
The discussion paper is available on the Department of Finance and Deregulation website.
Interested parties are encouraged to consider and comment on the alternatives outlined in the paper.
Comments on the discussion paper can be emailed to budgettreatment@finance.gov.au before 31 August 2012.
Following consultation, the Government will consider the future budget treatment of Future Fund costs in the 2012-13 Mid-Year Economic and Fiscal Outlook.
The Treasury
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Department of Finance and Deregulation