According to the budget statement Australia's official development assistance outlay for 2004-05 is an estimated $2133 million, more than $239 million over the 2003-04 budget figure of $1894 million. This represents a 'real increase' of 9.9 per cent. While this observation is technically correct it does not indicate the actual increase in outlay. With the expected outcome for 2003-04 to be $2019 million, the actual increase in the aid budget in constant dollar terms is less that one third of the announced figure, a mere $62.3 million or 3.1 per cent, Ravi Tomar shows in this research note.