Treasury head to warn of fiscal challenges

Secretary of the Treasury, Dr Martin Parkinson is expected to give a frank overview of how the global financial crisis will affect government budgets.

Dr Parkinson’s presentation at the Australian Government Leadership Network, New South Wales on 6th September is anticipated to cover the impact of the global financial crisis (GFC) and its broad global context.

According to the Department of Treasury, his talk will broadly cover what’s going on in the Australian economy in regards to exchange rates, the structuring of the economy and fiscal policy in the medium term.

The GFC has impacted the attending delegates mainly on government budgets through their revenues; the presentation will cover what is important and what is not on this issue.

However, delegates’ advice will be put in context regarding the pressures on the Australian economy, either internationally or domestically.

Dr Parkinson will not cover anything specific to local government, according to the Department, although he will be giving a broad macro economy view.

He will then bring it into the budget context at a federal government level and how that impacts at state levels, which will affect local government by default.

The GFC is also affecting government departments, which in turn concerns all the attending public servants, not just because of the advice they give but in their own internal budgeting operations.

Procurement in government will not be covered within the presentation, although public servants will attend to hear more about the context of which they are operating.

Mainly Commonwealth representatives will attend, but state and local representatives will also be present.

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