The federal deficit will be worse in 2017-18 than predicted in the May budget, despite some easing in the delays imposed by the Senate, Deloitte Access Economics’ budget monitor predicts.
Articles on Budget deficit
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Tony Abbott has exhorted the government to stand up for reform and avoid new spending that does not promote growth.
The government and Labor have offered up competing packages of budget savings. The question of whether they can meet halfway will be a test for both sides.
With the new parliament finally opening on Tuesday, Bill Shorten’s tightrope tactics will soon be tested.
Treasurer Scott Morrison has given notice of a fresh assault on the crucial challenge of budget repair. Let’s hope he and Malcolm Turnbull have learned from the unfortunate self-destructing experience…
Bill Shorten on Wednesday will propose a budget repair package worth $8 billion over the forward estimates.
The government will test Labor’s bona fides early in the new parliament with an ‘omnibus bill’ containing more than $6 billion in savings it says the ALP flagged at the election it would support.
As the budget deficit fades from political view, anxiety shifts to the much wider current account deficit. It may signal UK dynamism, but neither financing nor closing it look easy after Brexit.
Labor begins its next phase in opposition with bigger numbers in the parliament and with a new level of confidence as it confronts the government.
A $2 billion welfare crackdown is the main contributor to new savings announced by the government to improve the budget by $1.1 billion across the forward estimates.
Labor has unveiled its costings, showing it would have a deficit of around $16 billion higher across the forward estimates than that shown in the Pre-election Economic and Fiscal Outlook.
Labor’s weakest flank in this election is economic credibility and it knows it. A combination of the past, including memories of Wayne Swan’s ever-elusive surplus, and the present, with the perception…
The opposition will attempt to strengthen its economic credentials by announcing on Friday a package of savings to help pay for its policies and improve the budget bottom line.
Sleep is at a premium in Canberra this week. Finance Minister Mathias Cormann is one of those doing the post-budget heavy lifting.
Budget repair was put off till later, and the net impact of decisions in the budget was small, but it will be easier to defend in the coming election campaign than some other recent efforts.
The federal budget deficit from now through to 2018-19 is likely to be $129 billion, $21 billion worse than in the December official budget update, according to Deloitte Access Economics.
Hospitals in England anticipate a £2.3 billion deficit by the end of the financial year. That won’t leave much in the kitty for the proposed NHS upgrade.
Shadow treasurer Chris Bowen told journalists that since the last federal election, the government has had spending as a percentage of GDP at GFC levels. Is that right?
Federal treasurer Scott Morrison said that expenditure as a share of the economy under this government is falling, not increasing. Is that right?
Future taxpayers were the big losers of the trillion-dollar budget deal, who will have to shoulder the burden of higher interest payments.
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