The 2011-12 Budget provides the Australian Bureau of Statistics (ABS) with an additional $35.9 million over four years to improve and expand its statistical capacity. The ABS is a world‑class statistical organisation, which publishes a wide range of economic and social statistics.
The 2011-12 Budget funding includes;
- $30.0 million over four years to improve the ABS' macroeconomic statistics
- $5.9 million over two years to continue to produce annual input-output (IO) data tables — which are largely used to explore structural changes in the Australian economy.
The funding for improving the ABS' macroeconomic statistics will support the scope and quality of major macroeconomic statistical outputs, including the quarterly National Accounts publication. The continued funding for annual IO tables is necessary for understanding the industrial structure of the Australian economy, and the implications of this for Government policy.
Improvements to the ABS' economic data will aid decision making by government, business and households.