Tuesday, October 23rd, 2012 - OVUM
OVUM COMMENT

Kevin Noonan, Research Director, Public Sector at Ovum

Federal Government MYEFO announcement –

“Steady as she goes for government IT”

Today, Federal Government Treasurer Wayne Swann released his Mid-Year Economic & Fiscal Outlook (MYEFO). Government agencies will breathe a sigh of relief with a steady as she goes path ahead for the rest of the financial year.

Last year, the government’s MYEFO statement was essentially a mini-budget, announcing substantial cuts to public sector running budgets and capital expenditure. With these cuts still washing through government agencies, further cuts would have created significant problems. This is particularly the case, given the announced further tightening of government funding, in September. This is mainly related to contractors, travel and printing. With many government agencies now running on the smell of an oily rag, future savings will need to come through productivity and innovation, rather than old-fashioned cross board cost-cutting.  

---ENDS---

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Federal Government Treasurer Wayne Swann released his Mid-Year Economic & Fiscal Outlook (MYEFO)

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