Based on the budget estimates printed in today’s Australian Financial Review (AFR) the 2012-13 budget expenditure will be $376.3 billion. That’s $2.6 billion more than the estimate for this year.
And $30.2bn more than the government spent in 2010-2011.
What does that boil down to for our local economy?
Hard to say. Most money comes into our local community through social security payments (pensions…) and wages for government employees. Most money goes out of our local community through ?(imported groceries imported petrol overseas travel furniture & cars from overseas clothes & stuff from overseas insurance paid to overseas insurance companies …)