Independent Costing Review Panel Report On Labor Spending
Media Statement - 23rd November 2007
The Independent Costing Review Panel (ICRP) today reported to the Federal Parliamentary Labor Party (FPLP).
The Panel consisted of:
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Greg Smith (Adjunct Professor, Economic and Social Policy, Australian Catholic University who was the Executive Director of Budget and then Revenue Groups in the Australian Treasury until 2004);
- John Brown (a professional chair of audit committees who was a Senior Partner of KPMG until 2006) and;
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Professor James Guthrie (Professor of Accounting, Sydney University and Editor of the Accounting, Auditing and Accountability Journal).
The Panel have now reported and found that:
“…the final policy costings provided by the FPLP in the attached table are based on reasonable assumptions and calculations and as such present a fair estimate of the net financial impact of those policies on the federal budget’s underlying cash balance over the period 2007-08 to 2010-11.”
Their letter and reconciliation table to Tim Gartrell, National Secretary of the Australian Labor Party, are available as PDFs under 'downloads' on this page.