Sentences with phrase «year budget forecasts»

Two - year budget forecasts were first used by Paul Martin and proved very successful.

Everyone knows that five - year budget forecasts are virtually useless, which is why everyone is expecting that the next budget is going to be the really tough one.

Every November, the LAO gives a four - year budget forecast; in January, when Gov. Jerry Brown releases his proposed state budget for next year, school districts will see how closely they jibe.

Not exact matches

Last year's budget forecasted oil at $ 67 per barrel (WTI) for 2016.

Years ago, under Paul Martin, Finance stopped using its own forecasts, opting instead to base the budget on the average prediction of a group of outsiders, mostly the lead economists at the country's biggest banks.

Personal income tax will hit a 20 - year high of 12.5 per cent of GDP by 2020 - 21 under the budget forecasts as the government relies on bracket creep and an increase in the Medicare levy to return the budget to surplus.

Your accountant should also be able to a play a role in tracking your progress towards these goals you set in your budgets and forecasts, year round.

The bill can not increase total deficits in the years beyond the CBO's 10 - year budget window, over and above the forecasts under current law.

But four years after ending a bailout program, the Portuguese government is now forecasting a budget surplus — when state expenditure is lower than revenues.

The forecast, due Monday, sets the benchmark when legislators meet in January to write a state budget for the coming fiscal year and fix shortfalls from the current year.

Hopefully Budget 2016 will contain cautious and realistic economic forecasts for the next five years.

The economic forecasts in the budget will be a little less interesting this year as in late February the Department of Finance released a set of forecasts in their Canadian Economic Outlook (CEO).

The deficit for the current fiscal year that ends in two weeks is projected to be $ 25.9 billion — exactly as forecast in the fall fiscal update but up significantly from the $ 21.1 billion posited by Flaherty in last March's budget.

A year ago, Flaherty's 2012 budget relied on private sector forecasts to project 2.4 per cent gross domestic product growth, after inflation, for 2013.

And the more thoroughly researched and realistic your revenue forecasting is, the easier it will be to stay on budget throughout the year.

Despite the fact that economic growth for this year is now forecast to be substantially lower than that expected at the time of the April Budget, Mr. Oliver is still confident that the federal government will record a surplus in 2015 - 16.

The budgetary balance has deteriorated significantly compared to that forecast in the March 2012 Budget, by $ 5 to $ 7 billion per year.

Using the Bank of Canada forecast growth of 1 % for 2015, we have estimated that there would be a deficit of $ 1.6 billion in 2015 - 16 but have maintained the April budget forecast for the remaining years.

For example, the moving average consists of a forecast of nominal GDP for the first year (t) of the budget plan, an estimate for the previous year (t - 1) and a preliminary estimate by Statistics Canada for the first year of the moving average (t - 2).

Eight years after the beginning of the last recession, the economy is in much worse shape than was expected — at least judging from the forecasts that the Congressional Budget Office published back in August 2007.

Nor can they claim that growth in second half of the year will be stronger than forecast because of the October fiscal actions since the effects of these measures were already included in the budget forecast.

The key risk to the 2018 Budget deficit forecast of $ 19.4 billion for the year as a whole is personal income tax revenues.

The Budget forecast an increase of 9.5 % for the year as a whole.

However, included in the Budget forecast are a number of end - of - year accruals amounting to $ 4.7 billion.

Personal income tax revenues were up $ 0.8 billion (3.3 %), well below the 2017 Budget forecast of 5.8 % for the year as a whole.

For a February or early March budget, private sector economists would not have time to incorporate the fourth quarter results of the previous year in their forecasts.

As part of the changes to the budgetary process in 1994, four private sector forecasting organizations [2] develop detailed fiscal projections on a National Accounts basis, based on the average of the private sector economic forecasts and the tax and spending policies in place at the time of the last budget for the next five years.

For the last two years the final deficit outcomes have come in substantially below the budget forecasts.

On February 3, 2011, the C.D. Howe Institute released its 2011Shadow Budget [1] entitled A Faster Track to Fiscal Balance, arguing that federal government should undertake aggressive actions to restrain the growth in program expenses in order to achieve a fiscal surpluses one year earlier than forecast in the October 2010 Update [2].

This is somewhat higher than that forecast in the 2018 Budget but expected to be in line by year end.

Within budgetary revenues, personal income tax revenues were up $ 7.7 billion (6.1 %), slightly above the growth rate forecast in the 2018 Budget for the year as a whole.

Although this is encouraging news, at least five to six months of financial data are required before one can properly assess the current results to the June 2011 Budget forecast of $ 32.3 billion for the fiscal year as a whole.

Best of all, the government will be able to show larger surpluses in the outer years, after 2015 - 16, than forecast in the February budget.

In the 2012 Budget, the government forecast that the deficit would be eliminated in 2015 - 16, one year earlier than forecast the previous year.

It does not meet all of the Report's Fiscal Accountability criteria any more, as it does not compare the audited results to the on - year ahead budget forecast, the focus of the C.D. Howe.

Volume 1 of the Public Accounts of Canada provides final audited results for the fiscal year just ended, thereby permitting a comparison of the Budget forecast to the actual outcome.

Second, the final outcome for 2014 - 15 was considerably better than forecast in the April 2015 Budget and much of this better - than - better outcome has probably carried forward into the current fiscal year.

In your Update, you are now forecasting a «budget planning deficit» of $ 3.0 billion for 2015 - 16, followed by deficits of $ 3.9 billion, $ 2.4 billion and $ 1.4 billion in the following three years.

The November Update forecast a deficit of $ 26 billion this year almost $ 5 billion higher than forecast in the March 2012 budget.

The Budget also noted that once the EI Operating Account returns to balance, the CEIFB is to set a rate for each year that would generate enough premium revenue over the next seven years equal to the forecast cost of the EI program during that period.

In his November 2012 Economic and Fiscal Update, Mr. Flaherty forecast that the deficit would not be eliminated until 2016 - 17, one year later than forecast in his March 2012 Budget.

On balance, budgetary revenues increased by 2.2 % on a year - over-year basis, compared to a 4.3 % increase in the March 2013 Budget forecast for the year as a whole.

The March 2011 Budget forecast an increase of 0.6 per cent for the year as whole.

In the mid 1990's Finance Minister Paul Martin committed to a two - year rolling budget forecast.

The PBO forecast, including a contingency reserve, shows a balanced budget in 2015 - 16, followed by deficits of $ 16.5 billion, $ 19.4 billion, $ 17.1 billion, and $ 14.2 billion in each of the following years.

First, prior to the start of an election, the Parliamentary Budget Officer (PBO) should prepare a five - year economic and fiscal forecast.

On balance, budgetary revenues increased by 4.3 % on a year - over-year basis, bang on the March 2013 Budget forecast for the year as a whole.

After 2011 - 12, PBO expects the deficit to be higher than the budget forecast in each year.

Based on the March 2013 Budget forecast, it will have taken the Government eight years to offset the fiscal impact of the 2008 — 2009 financial crisis (an increase in the federal debt of $ 172 billion).

In the 2014 budget, the government forecast that the deficit would be eliminated in 2015 - 16 and this would be followed by modest surpluses over the next three years.