State Budget process
The Queensland Government produces a State Budget annually. The process generally commences with an update of existing revenue and expenditure forward estimates. Compiled on a rolling five-year basis, these estimates provide an initial fiscal context from which the Government may consider and prioritise proposed policy initiatives as part of its overall Budget strategy.
On finalising these policy deliberations, Treasury liaises with agencies to compile the annual Budget documents.
The specific format of the Budget documents may vary from year to year, however they generally comprise:
- a Budget Speech outlining the Government's strategic directions, priorities and plans
- information on total Government revenues and expenses and financial statements for the Government as a whole
- an overview of the State's recent economic performance and forecasts of key economic aggregates
- information on Budgeted capital outlays
- a summary of policy decisions, made by Government since the previous Budget, that have funding impacts
- details of the services and activities undertaken within each departmental portfolio.
The Budget documents also include the annual Appropriation Bills which, when passed as Acts by Parliament, authorise the payment of amounts from the Consolidated Fund to provide for the operations of Government departments. Regional Budget Statements highlight Budget initiatives in regional areas across Queensland.
The Treasurer presents Budget documents to the Queensland Parliament. These are also released to the public as a detailed statement of the Government's fiscal and economic policies.
As a final stage in the process, the Budget documents are reviewed through a series of parliamentary Estimates Committees, which comprise Government and opposition members. This process informs general parliamentary debate on the Budget and ensures the accountability and transparency of the overall Budget process.
Last reviewed 4 June 2013