To assess Australia’s fiscal sustainability and budget challenges it is important to look at the budget position of not only the Commonwealth but also states and territories. This report examine the revenue, expenditure, net capital investment and the net debt position across all levels of Australian government over the forward estimates period.

This review provides an opportunity to ensure that the Reserve Bank Act is fit for purpose and able to provide a strong, flexible, and enduring regulatory framework that enjoys broad public and industry support.

This report assesses the influence of the current system of Horizontal Fiscal Equalisation (HFE) on productivity, efficiency and economic growth; the incentives for the states to undertake reforms that improve the operation of their jurisdictions; and on the states’ abilities to prepare and deliver annual budgets.

The first part of this paper develops a theoretical model of fiscal equalisation to derive an optimal equalisation formula that has general applicability for federations. If vertical equity is achieved by the central government and horizontal equity by interstate migration, the welfare-maximising role of fiscal equalisation is to support an efficient distribution of different labour...

This report critically responds to the call for fiscal austerity and public sector downsizing, being made in response to the emergence of fiscal deficits in Western Australia.