Section 27
Non-achievement of fiscal objectives and quantified values
of Public Finance and Fiscal Responsibility Act 2023
If the fiscal objectives and the quantified values as specified in the First Schedule is not achieved, the Minister shall lay a fiscal adjustment plan to be approved by resolution of the House of Representatives.
(2)
The fiscal adjustment plan shall consist of—
(a)
reasons for not achieving the fiscal objectives and the quantified values;
(b)
measures to be taken by the Government to achieve the fiscal objectives and the quantified values;
(c)
the expected period of time to be taken by the Government to achieve the fiscal objectives and the quantified values;
and
(d)
other relevant information relating to the fiscal adjustment plan.
(3)
If the fiscal adjustment plan is not approved, the House of Representatives may pass a resolution to require the Minister to improve the fiscal adjustment plan to be laid in the House of Representatives as soon as practicable.
(4)
The Minister shall update the progress of the measures stated in paragraph (2)(b) in the following annual fiscal outlook report.