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Budget speech timing



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NO. 66

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TREASURER

PRESS I RELEASE VS —

STATEMENT BY THE TREASURER, JOHN KERIN MP

BUDGET SPEECH TIMING

I will deliver the 1991-92 Budget Speech at 3pm on Tuesday August 20.

The decision to move the speech forward from 7.30pm has been made after a review of the arrangements for delivery of the Budget Speech.

The main reasons for an evening delivery of the speech were historical, stemming from the need to announce any changes in fiscal measures outside business hours. In times of round-the-clock trading on world markets this is now

anachronistic.

The role of the Budget has also changed under the Hawke Government. It is no longer a 'once-a-year' blockbuster containing all the Government's economic management measures " for the financial year. It is now one important announcement in

an ongoing process of economic management.

The 7.30pm delivery made a Budget 'Lock-up1 essential to enable print media journalists to prepare informed coverage of the Budget for the following day. This will not now be necessary and all previous announcements regarding a 1991 Lock-up can be disregarded.

Copies of the Budget papers will be distributed to media representatives in Parliament House at 3pm and will be available from outlets in other capitals and regional centres as soon as practicable thereafter. Advisers from Treasury, Finance and other departments will be available in Parliament House to assist in detailed explanation of the Budget. Consideration will be given to providing 'hot line' advice to

other centres.

I will conduct a Media Conference to discuss the detail of the Budget at 4.30 pm.

I believe these new arrangements will help to dispel some of the mystique surrounding the annual Budget.

26 July 1991

For more information contact: Simon Grose 06 2777 340

COMMONWEALTH PARLIAMENTARY LIBRARY MICAH