24Pre-election budget update statement

24 Pre-election budget update statement

24 Pre-election budget update statement

(1) The Secretary of the Treasury is to publicly release, on or as soon as reasonably practicable after the commencement of the caretaker period, a pre-election budget update statement that updates the matters set out in the previous half-yearly budget review issued by the Treasurer.

(2) The pre-election budget update statement is to contain, for the general government sector, the following—

(a) the revised projections for the current financial year,

(b) the revised forward estimates, for major aggregates, over 3 years,

(c) the latest economic projections for the current financial year and the 3 years for which the revised forward estimates are provided,

(d) an explanation of any significant variation in the revised projections, forward estimates or economic projections that were contained in the previous half-yearly budget review or budget,

(e) revised financial statements for the general government sector for the current financial year and the 3 years for which the revised forward estimates are provided,

(f) an update of any matter required to be included in the budget papers by section 8 (b) of the Fiscal Responsibility Act 2012.

(3) The pre-election budget update statement is to specify the date on which it was prepared and is to be based, as far as possible, on actual results and Government decisions as at the commencement of the caretaker period.

(4) The pre-election budget update statement is to be—

(a) in a format that is consistent with the format of the previous half-yearly budget review, and

(b) consistent with the statement of significant accounting policies and forecast assumptions in that review.

s 24: Subst 2018 No 52, Sch 1 [10].