2014 Budget — Commission of audit report
The Commission of Audit was tasked by the Treasurer to review the scope and efficiency of the Commonwealth Government, to review the state of its finances and to advise on steps to be taken in ensuring Australia’s long-term fiscal strategy is responsible and sustainable. Its recommendations provided the context in which the 2014 Australian Government budget was drafted.
The Commission has found Australia confronts a substantial budgetary challenge with the fiscal situation being far weaker than it should be, and the long-term outlook is ominous due to an unsustainable increase in expenditure commitments.
The Commission was chaired by Tony Shepherd AO with the other commissioners being: Dr Peter Boxall AO; Mr Tony Cole AO; Mr Robert Fisher AM; and The Hon Amanda Vanstone. The report was made public in May 2014 in the following five parts:
The Commission's report identifies actions that can be taken now to ensure that Commonwealth spending is placed on a more sustainable long-term footing. It recognises the unfairness of saddling today’s youth with debts incurred by current deficit. The report notes that with an ageing population there will be fewer people of working age to look after the retired and states that the youth of today should not inherit the debt that is currently being incurred as well as the burden of looking after those looking to finish their working life later.
This update was issued on 1 May 2014 and please note that changes in circumstances after the publication of material or information may impact upon its accuracy and also change regulatory compliance obligations. The statements, regulatory and technical information contained herein are believed to be accurate and are provided for information purposes only. Readers are responsible for assessing its relevance and verifying the accuracy of the content. To the fullest extent permitted by law, ADIA will not be liable for any loss, damage, cost or expense incurred in relation to or arising as a result of relying on the information presented here.
Member Engagement —
ADIA provides leadership, strategy, advocacy and support. Our members set our agenda, fund our activities and directly benefit from the results. With respect to the Association's work to ensure that the initiatives within the 2014 Australian Government budget support the dental industry, the team in the ADIA national office receive advice and guidance from members serving on the ADIA-BAC Business Affairs Committee.
Further Information —
To keep up to date with how ADIA is working to ensure that the Australian Government budget supports the dental industry, subscribe to the Twitter feed @AusDental or follow us on Facebook at www.facebook.com/dental.industry. Alternatively, you can contact the Association via email at email@example.com or by telephone on 1300 943 094.
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