A multi-annual budgeting system is being introduced under the strategic management initiative. The aim is to put in place a framework within which the Government can consider overall budgetary, taxation and expenditure priorities in a mediumterm context.
The last two budgets made significant progress with the introduction of the new system. A multi-annual projection of the major revenue and expenditure aggregates on the assumption of unchanged policies was published with the 1997 budget. The spending data were in summary form, without a breakdown by Vote group.
The 1998 budget included, as part of the medium-term assessment, projections of expenditure by ministerial Vote group for the period 1998-2000, again on the basis of a "no-policychange" assumption.