BUDGET TIME COMMONWEALTH LCA FOR 1997-98

In formulating its budget, each jurisdiction is required to take into account its Loan Council approved LCA and to report its budget time LCA in its budget papers.

The Commonwealth's budget time LCA estimate is a $5.5 billion surplus. The improvement from the nominated $4.4 billion surplus approved by Loan Council reflects the increase in the estimated budget surplus from the no policy change figure of $4.6 billion included in the MYEFO to $6.4 billion as shown in Statement 1 of Budget Paper No. 1.