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Fiscal policy and the current environment

Fiscal policy and the current environment. Post-Budget Address to Australian Business Economists. Tuesday, 18 May 2010 Ken Henry. Chart 1: Real GDP projection. Index. Index. 140. 140. 130. 130. 120. 120. 2010-11 Budget. 110. 110. 2009-10 Budget. 100. 100. 90. 90. 2007-08.

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Fiscal policy and the current environment

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  1. Fiscal policy and the current environment Post-Budget Address to Australian Business Economists Tuesday, 18 May 2010 Ken Henry

  2. Chart 1: Real GDP projection Index Index 140 140 130 130 120 120 2010-11 Budget 110 110 2009-10 Budget 100 100 90 90 2007-08 2009-10 2011-12 2013-14 2015-16 2017-18

  3. Chart 2: Terms of trade

  4. Chart 3: Output shares by selected industry

  5. Chart 4: Global production of selected commodities Index Index 220 220 200 200 Iron ore 180 180 Bauxite 160 160 140 140 Coal 120 120 100 100 80 80 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

  6. Chart 5: Trend in real price of aluminium and copper, 1911 to 2001 Index 2001=100 Index 2001=100 Index 2001=100 Index 2001=100 1500 1500 700 700 600 600 Copper Aluminium 500 500 1000 1000 400 400 300 300 500 500 200 200 100 100 0 0 0 0 1911 1941 1971 2001 1911 1941 1971 2001

  7. Chart 6: Trend in real price of copper1930 to 1970 Index 2001=100 Index 2001=100 400 400 Copper 300 300 200 200 100 100 0 0 1930 1940 1950 1960 1970

  8. Chart 7: Share of world GDP, I-2003AD

  9. Chart 8: Consumption of copper and steel per capita against real GDP per capita Note: Steel consumption data for all countries are for 1974-2004 except for India (1980-2004). For US and Japan, copper consumption data are 1960-2005, 1965-2005 for South Korea, and 1962-2005 for China. India’s per capita consumption of copper is less than 1kg. Source: IMF, Steel Statistics Yearbooks and Treasury

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