Parliamentary Budget Office
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The Parliamentary Budget Office (PBO) is an agency of the
Australian Parliament The Parliament of Australia (officially the Federal Parliament, also called the Commonwealth Parliament) is the legislature, legislative branch of the government of Australia. It consists of three elements: the monarch (represented by the ...
whose purpose is to "inform the parliament by providing independent and non-partisan analysis of the budget cycle,
fiscal policy In economics and political science, fiscal policy is the use of government revenue collection (taxes or tax cuts) and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables ...
and the financial implications of proposals". It was established by the Gillard Government following minority government formation negotiations. Following that commitment, a Joint Parliamentary Committee on the Parliamentary Budget Office was convened, chaired by
John Faulkner John Philip Faulkner (born 12 April 1954) is an Australian former Labor Party politician who was a Senator for New South Wales from 1989 to 2015. He was a Cabinet Minister in the Keating, Rudd and Gillard Governments. After his election to ...
. The PBO's independence is enshrined in legislation. In 2013, then-Treasurer
Wayne Swan Wayne Maxwell Swan (born 30 June 1954), often colloquially referred to as Swanny, is an Australian politician who is National President of the Labor Party. He was previously the Deputy Prime Minister of Australia and Deputy Leader of the Labor ...
introduced legislation requiring the PBO to conduct a post-election audit to cost political parties' electoral commitments. In its first independent report, the PBO noted that the
Australian federal budget An Australian federal budget is a document that sets out the estimated revenues and expenditures of the Australian Treasury in the following financial year, proposed conduct of Australian government operations in that period, and its fiscal poli ...
had an underlying
structural deficit Within the budgetary process, deficit spending is the amount by which spending exceeds revenue over a particular period of time, also called simply deficit, or budget deficit; the opposite of budget surplus. The term may be applied to the budget ...
, caused in part by Howard Government personal income tax cuts.


See also

*
Parliament of Australia The Parliament of Australia (officially the Federal Parliament, also called the Commonwealth Parliament) is the legislature, legislative branch of the government of Australia. It consists of three elements: the monarch (represented by the ...
*
Australian federal budget An Australian federal budget is a document that sets out the estimated revenues and expenditures of the Australian Treasury in the following financial year, proposed conduct of Australian government operations in that period, and its fiscal poli ...
* Compare: **
Parliamentary Budget Advisory Service The Parliamentary Budget Advisory Service was established in South Australia in December 2017 to provide expertise to assist candidates in costing their campaign policies. It was an initiative of the Weatherill Government which preceded the 2018 ...
(South Australia) **
Legislative Analyst's Office The Legislative Analyst's Office (LAO), located in Sacramento, California, is a nonpartisan government agency that has provided fiscal and policy advice to the California Legislature since 1941. The office is known for analyzing the state budget ...
(California) **
Congressional Budget Office The Congressional Budget Office (CBO) is a federal agency within the legislative branch of the United States government that provides budget and economic information to Congress. Inspired by California's Legislative Analyst's Office that manages ...
(United States) **
Bureau for Economic Policy Analysis The Bureau for Economic Policy Analysis ( nl, Centraal Planbureau, CPB, literal translation: Central Planning Bureau) is a part of the Ministry of Economic Affairs and Climate Policy of the Netherlands. Its goal is to deliver economic analysis and ...
(Netherlands) **
Parliamentary Budget Officer The Office of the Parliamentary Budget Officer (OPBO; ) is an office of the Parliament of Canada which provides independent, authoritative and non-partisan financial and economic analysis. The office is led by the Parliamentary Budget Officer ...
(Canada) **
National Assembly Budget Office The National Assembly Budget Office (NABO) supports the Korean National Assembly by analyzing and evaluating issues related to the national budget, fund and fiscal operations. History 2003. : Establishment of the National Assembly Budget Offi ...
(The Republic of Korea) **
Office for Budget Responsibility The Office for Budget Responsibility (OBR) is a non-departmental public body funded by the UK Treasury, that the UK government established to provide independent economic forecasts and independent analysis of the public finances. It was formally ...
(United Kingdom)


References

Economic research institutes 2012 establishments in Australia Government agencies established in 2012 Independent government agencies of Australia Government finances in Australia Parliament of Australia {{australia-stub