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Australian Federal and State Budgets - An Overview

billion in expected revenue between 2008 and 2012.94 In the longer term the challenge will be to maintain fiscal responsibility in the face of the demands of an ageing population and other factors, the predictable and unpredictable alike.

competent economic manager. It has operated successfully within its financial policy framework, meeting or exceeding all of its targets”. See David Hayward, Visions for Victoria: Budget and Revenue (Victorian Council of Social Service, Melbourne, 2009), p.3.

94

M Rout, ‘Brumby’s budget’s “gaping hole”’, The Australian, 30 April 2010, p 6.

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