​​​​The Charter of Budget Responsibility Act 2007 (the Act) establishes the requirements for the preparation and release of a Pre‑Election Financial Outlook Report.

Part 5 of the Act requires the Secretary of the Department of Treasury and Finance (Treasury) to review and make an assessment of material movements since the most recent published estimates for the current Budget year and the following three financial years.

If the estimates do not vary materially from the information presented in either the Revised Estimates Report or Budget Papers, whichever is more recent, the Secretary must inform the Premier and publicly release a notice that no report will be issued.

If the estimates vary materially from the information presented in the Revised Estimates Report or the Budget Papers, whichever is more recent, the Secretary must prepare a report within ten business days of the commencement of the election costing period. This report must be provided to the Premier and must also be publicly released.

In accordance with clause 10(1) of the Act, the Secretary reviewed the current estimates for the 2021‑21 Budget year and the following three financial years and determined that the current estimates vary materially from the information presented in the 2020-21 Revised Estimates Report released on 15 February 2021. Accordingly, a Pre-Election Financial Outlook Report has been released.

This Report should be read in conjunction with the 2020-21 Budget Papers and the Revised Estimates Report 2020-21.