Australia: Staff Report for the 2003 Article IV Consultation
Volume/Issue:
Volume 2003
Issue 337
Publication date: October 2003
ISBN: 9781451802054
$20.00
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Topics covered in this book
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Business and Economics , Inflation , Economics- Macroeconomics , Taxation - General , ISCR , CR , housing market , loan portfolio , growth , appreciation , institution , housing price , net export , cash payment , core CPI , Housing prices , Housing , Personal income tax , Income , Consumption , Global
Summary
Australia's economy has continued to perform remarkably well, despite encountering major adverse shocks. Fiscal policy, with an objective of maintaining a balanced budget, will help support the economy. Maintaining a sound and stable macroeconomic environment is essential. Reforms of the personal income tax system are critical elements. A comprehensive reform of the complex system of income support payments would provide stronger incentives for labor force participation. Maintenance of competitive product markets will contribute to faster innovation and productivity and income growth. The financial system is sound.
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