10   Application of fiscal principles

(1)  The fiscal principles relate to sound financial management, and accordingly the Government should aim to pursue its policy objectives in accordance with those principles.

(2)  Those principles may be departed from in the presentation and implementation of the budget, but any departure should be temporary.

(3)  The Treasurer is to include in the budget papers a statement containing the following:

(a)  the reasons for the departure,

(b)  the approach to be taken to enable a return to the principles,

(c)  the time frame within which a return to the principles should occur.

(4)  Within 3 months of the commencement of this section, the Treasurer is to table in each House of Parliament a comprehensive financial management framework for the State’s finances prepared in accordance with international public sector best practice.