A budget is an estimate of the Commonwealth's revenue and expenditure for the forthcoming year. The budget contains information on matters such as economic forecasts, the provision of goods and services, the Government's social and political priorities and how the government intends to attain these priorities.
The budget is a main tool for the government's fiscal policy involving the Commonwealth's changing expenditure and revenue patterns to achieve a range of economic objectives. The role of a budget it to assist the federal government in achieving:
• Full employment of people over the age of 15 whom are willing to work.
• Price stability where the government attempts to maintain stable prices by controlling inflation rates.
• External balance to sustain a low current account deficit.
• Economic growth increasing real GDP per capita so living standards improve.
Calculating the budget outcomes provides a good indication of the overall impact of the budget on the......

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Title: Australian Federal Budget
Approximate Word Count: 653
Approximate Pages: 3 (250 words per double-spaced page)

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