Charter of Budget Responsibility Act 2007 (Tas)

Charter of Budget Responsibility Act 2007

An Act to provide for a Charter of Budget Responsibility [Royal Assent 28 September 2007]

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

1. Short title This Act may be cited as the Charter of Budget Responsibility Act 2007 .

2. Commencement This Act commences on the day on which this Act receives the Royal Assent.

3. The Charter of Budget Responsibility (1) The Charter of Budget Responsibility is set out in Schedule 1 . (2) Nothing in the Charter of Budget Responsibility creates rights or duties that are enforceable in judicial or other proceedings.

4. Administration of Act Until provision is made in relation to this Act by order under section 4 of the Administrative Arrangements Act 1990 – (a) the administration of this Act is assigned to the Treasurer; and (b) the department responsible to the Treasurer in relation to the administration of this Act is the Department of Treasury and Finance.

5. See Schedule 2 .

SCHEDULE 1 - Charter of Budget Responsibility

Section 3

PART 1 - Purpose of Charter

1. Purpose of Charter The Charter of Budget Responsibility provides a framework to improve fiscal policy outcomes by requiring – (a) a fiscal strategy statement based on principles of sound fiscal management; and (b) regular reports to provide for the assessment of the Government's fiscal performance; and (c) the publication of a pre-election financial outlook report; and (d) a process for costing the election policies of parties represented in the House of Assembly.

PART 2 - Interpretation