The Charter of Budget Honesty Amendment (Intergenerational Report) Bill 2015, which was introduced to the Senate yesterday, would require the Parliamentary Budget Office (PBO) to prepare the Intergenerational Report every 5 years and in enough time to allow the Treasurer to release it within 5 years of the previous report.
The bill also empowers the PBO to request information in order to prepare the Intergenerational Report.
“The 2015 Intergenerational Report was a partisan disgrace,” said Greens Leader, Senator Christine Milne.
“I want to make sure no future Intergenerational Report is similarly abused as a taxpayer funded, focus-group tested brochure for a struggling government.”
“An independent Intergenerational Report, which Labor also says it wants, would make the most of this incredibly important opportunity to look forward 40 years and work out how to raise the money we need to support the sort of society that we want.”
Shadow Treasurer Chris Bowen described the 2015 Intergenerational report as a “disgraceful political document.” He also said, if he became Treasurer, he would make similar amendments to the Charter of Budget Honesty Act. It is unclear at this stage if Labor will support the bill.
The next Intergenerational Report, covering up to the year 2060, is due to be released in 2020.
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