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Tuesday, 10 May 1994
Page: 551

(Question No. 788)

Senator Parer asked the Minister representing the Treasurer, upon notice, on 18 November 1993:

  (1) How many simulations of the Australian macroeconomy has Treasury run since 17 August 1993?

  (2) What models were used?

  (3) How many of those simulations examined the macroeconomic effects of changes in the Government's income and company tax policies?

  (4) On what dates were each of the simulations in (1), (2) and (3) run?

Senator Cook —The Treasurer has provided the following answer to the honourable senator's question:

  (1) Numerous simulations of the Australian macroeconomy, of varying complexity, have been run by Treasury since 17 August 1993. Individual Treasury officers with access to the relevant models on their computer terminals can run simulations independently and do so. The results of many of these simulations and viewed only on a computer screen with no permanent record kept. It is therefore not possible to indicate the number of simulations performed since 17 August 1993.

  (2) The Treasury Macroeconomic (TRYM) model and the Access Economics Murphy Model were used to perform these simulations of the Australian macroeconomy. Treasury's Price, Revenue, Incidence Simulation Model (PRISMOD) is not used for this purpose.

  (3) As explained in (1) above, it is not possible to know the number of simulations that may have been run involving hypothetical changes to aggregate rates of taxation.

  (4) Not available for the reason given in (1) above.