Budget Strategy and Outlook
Budget Paper No. 1
The Honourable J. B. Hockey MP
Treasurer of the Commonwealth of Australia
Senator the Honourable Mathias Cormann
Minister for Finance of the Commonwealth of Australia
For the information of honourable members
on the occasion of the Budget 2014‑15
13 May 2014
© Commonwealth of Australia 2014
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- The following definitions are used in this Budget Paper:
- 'real' means adjusted for the effect of inflation;
- real growth in expenses and payments is calculated using the Consumer Price Index (CPI) as the deflator;
- the Budget year refers to 2014‑15, while the forward years refer to 2015‑16, 2016‑17 and 2017‑18; and
- one billion is equal to one thousand million.
- estimates under $100,000 are rounded to the nearest thousand;
- estimates $100,000 and over are generally rounded to the nearest tenth of a million;
- estimates midway between rounding points are rounded up; and
- the percentage changes in statistical tables are calculated using unrounded data.
- not applicable (unless otherwise specified)
- millions of dollars
- billions of dollars
- not for publication
- estimates (unless otherwise specified)
- projections (unless otherwise specified)
- not elsewhere classified
- New South Wales
- Western Australia
- South Australia
- Australian Capital Territory
- Northern Territory
The term Australian Government is used when referring to the Government and the decisions and activities made by the Government on behalf of the Commonwealth of Australia.
Budget Paper No. 1: Budget Strategy and Outlook 2014‑15 is one of a series of Budget Papers that provides information to supplement the Budget Speech. A full list of the series is printed on the inside cover of this paper.