Document ID: chunk:federal_register_of_legislation:C2020C00126:clause:1_9
Version: federal_register_of_legislation:C2020C00126
Segment Type: clause
Provision Reference: sch 1 cl 9
Character Range: 14388–15907

9  Contents of fiscal strategy statement
 (1) A fiscal strategy statement is to:
 (a) specify the Government's long‑term fiscal objectives within which shorter‑term fiscal policy will be framed; and
 (b) explain the broad strategic priorities on which the budget is or will be based; and
 (c) specify the key fiscal measures that the Government considers important and against which fiscal policy will be set and assessed; and
 (d) specify, for the budget year and the following 3 financial years:
 (i) the Government's fiscal objectives and targets; and
 (ii) the expected outcomes for the specified key fiscal measures; and
 (e) explain how the fiscal objectives and strategic priorities specified and explained as required by paragraphs (a), (b) and (d) relate to the principles of sound fiscal management; and
 (f) specify fiscal policy actions taken or to be taken by the Government that are temporary in nature, adopted for the purpose of moderating cyclical fluctuations in economic activity, and indicate the process for their reversal; and
 (g) explain broadly the reporting basis on which subsequent Government fiscal reports will be prepared.
 (2) If particular information required to be included in the statement is unchanged from information set out in full in an earlier statement, the statement may instead summarise the information and state that it is unchanged from what was set out in the earlier statement.

Part 5—Annual Government reporting

Division 1—Budget economic and fiscal outlook report