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Assessment Task on Federal budget 2016-2017

Economics

10 Pages Essays / Projects Year: Pre-2018

Part 1 Describe the economic outlook for Australia for the 2016-17 financial year. State total revenue and total expenses in the 2016-17 budget. Identify the 3 largest sources of revenue and 3 largest areas of government spending. State the likely budget outcome for 2015-16 and the estimated budget outcome for 2016-17. Identify the fiscal policy stance for 2016-17. Briefly explain two policy changes the government has announced in order to achieve this stance. For one of the changes listed above discuss the likely short term and long term impacts of the policy on individuals, businesses and the Australian economy. Part 2 Write a 2000 word report examining the 2016-17 Federal Budget. 1. Outline the government’s budget objectives 2. Evaluate the effectiveness of the budget in addressing economic challenges 3. The use of taxation and spending in the budget 4. Discuss the influence of one group on government policies


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