Agency overview | |
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Formed | 23 July 2012[1] |
Jurisdiction | Australia |
Headquarters | Canberra, Australia |
Agency executive |
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Website | www |
The Parliamentary Budget Office (PBO) is an agency of the Australian Parliament whose purpose is to "inform the parliament by providing independent and non-partisan analysis of the budget cycle, fiscal policy and the financial implications of proposals".[2][3] It was established by the Gillard government following minority government formation negotiations.[4][5] Following that commitment, a Joint Parliamentary Committee on the Parliamentary Budget Office was convened, chaired by John Faulkner.[6] The PBO's independence is enshrined in legislation.[7]
In 2013, Treasurer Wayne Swan introduced legislation requiring the PBO to conduct a post-election audit to cost political parties' electoral commitments.[8][9]
In its first independent report, the PBO noted that the Australian federal budget had an underlying structural deficit, caused in part by Howard government personal income tax cuts.[10]