Budget 2003: Analysis of the Distributional Impact

This QEC Special Article was subject to refereeing prior to publication. The authors are solely responsible for the content and the views expressed.

December 1, 2002

Quarterly Economic Commentary, Winter 2002

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The overall size of the income tax welfare package contained in Budget 2003 is very limited compared with corresponding packages in recent years. The background to this, in terms of developments in the domestic and world economies, is well known. In this article, we examine the first round distributional impact of the income tax and social welfare policy changes announced in Budget 2003.