Released 14/08/2017
The ACT has achieved a balanced fiscal position in 2016-17 as record investment in Canberra's infrastructure continues.
Tomorrow I will present the June Quarter 2017 financial report in the Legislative Assembly, which shows a further improvement in the fiscal position of the Territory.
This interim result for 2016-17 is a balanced outcome with revenue and expenditure almost perfectly aligned. The interim outcome of -$10.6 million represents a $63.3 million improvement on the estimated outcome deficit of $73.9 million.
This has been achieved through higher than expected revenue together with lower expenditure than forecast.
The increase in revenue resulted from higher revenue from cross border health receipts from New South Wales, together with higher dividend and income tax equivalents income.
Expenditure was down in the June quarter, primarily due to lower than expected wages, salary and associated payments, as well as movements in the timing of some projects.
We have improved our fiscal position by investing in our community and diversifying our economy.
The ACT Government will continue to invest in the right infrastructure projects to deliver jobs and growth in the Territory, and continue building a better Canberra for everyone.
- Statement ends -
Andrew Barr, MLA | Media Releases
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