Australian Federal Budget

MAIN POINTS

Forecast GDP growth for this year raised from 2 to 3 per cent

GDP growth for the medium term lifted from 3 to 3.5 per cent

Land departure tax is shelved. Introduction of goods and services tax to be decided later, not until deflation eases

Thursday, 23 October, 2003, 12:00am

Always guided by fundamental principle

I would like to respond to your editorial of December 23 headlined, 'Facing realities', which discussed economic forecasts for 1998 and government expenditure.

First of all, I would like to clarify that the Government has yet to announce its official forecast for 1998 economic growth.

2 Jan 1998 - 12:00am

Mainland to ease military spending

CHINA'S defence budget will rise this year by 10.6 per cent to 69.8 billion yuan (HK$62.91 billion), its lowest annual increase since 1989.

Military analysts in Beijing said the rise, to be announced by Minister of Finance Liu Zhongli at next week's National People's Congress, would mainly be used for upgrading weapons.

27 Feb 1996 - 12:00am

$10.5 billion reserve to fund works

THE Government is expected to invest heavily in non-airport capital works projects in the 1993-94 financial year by setting aside at least $10.5 billion in a special reserve to carry out new plans.

The massive investment was unveiled yesterday amid expectation of another windfall surplus, which is expected to exceed $20 billion for the year ending March 1993.

27 Feb 1993 - 12:00am