Friday, November 30, 2012

Q3 Public Sector expenses increase 4% despite "efficiency dividends"

This media statement published under the name of Treasurer Troy Buswell yesterday gave an overview of the September quarterly results.

The first half of the media statement is heavily focused on the lower revenue for the quarter and the corresponding $255 million reduction to the surplus over the same period last year. Predictably, among the explanations offered for these results were four mentions of changes to the Commonwealth GST distribution and two mentions of lower mining royalties.

Interestingly, the media team also decided to justify an upbeat view with this line that will surely draw a critical response from the CCI:

“Growth in payroll tax collections underlines ongoing strength of the economy“

Anyway, there’s also a cursory...

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