In the upcoming fiscal update, the Australian Treasurer is going to have to admit that the cumulative budget deficit over the next four years is going to be some $30bn bigger than expected in May’s Budget. The elusive budget surplus is therefore drifting further away. In fact, our view that the economy will fall short of the Treasurer’s high hopes suggests that a surplus is not even on the fiscal horizon.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.