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Wednesday, 6 November 1985
Page: 1650

Senator KNOWLES —I refer the Minister representing the Treasurer to an answer he gave yesterday at Question Time that no reassessment of Budget forecasts has been carried out, in light of the much lower than forecast value of the dollar, and that he saw no point in conducting such a reassessment. Is it correct to assume that a review of the currency forecast and its implications for other Budget projections would form part of his Department's normal mid-year review of the Budget to be conducted in a few weeks time? If so, will he undertake to release the review, in light of the growing concern that major Budget forecasts may be discredited by the renewed fall of the dollar?

Senator WALSH —The joint economic forecasting group is due to meet, I think, before the end of this month. I shall check to see whether that is precisely correct. I expect that the report of that group would be considered by the Government early in the new year and a review would probably be completed in February. I will consider whether to make the results of that review available at that time.