The drivers of the improvement are largely outside the government’s control. Meanwhile, total debt is projected to exceed $1 trillion for the first time by mid-2027.
Articles on mid year economic and fiscal outlook
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Appropriately, we finish our podcast for 2024 talking to Treasurer Jim Chalmers and his shadow, Angus Taylor because, as the saying goes, "it's the economy, stupid!"
After two successive surpluses, the federal budget will be back in deficit for 2024-25, according to the much anticipated budget update.
The thing to look for is the “fiscal strategy”. For the past quarter-century, it’s provided a surprisingly accurate insight into what each budget is doing.
The dominant forces in the Coalition seem to have learnt their lesson: Australia’s economy still needs serious budget support.
Budget update shows the government has a big election war chest, and an optimist economic outlook
Thursday’s budget update will forecast one million jobs will be created over the next four years and unemployment will fall to 4.25% by June 2023.
Economist Ross Guest unpacks some of the key numbers in the government’s mid year budget update, with seven charts.
The government has revised down its forecast for economic growth to 2.5% and an expected deficit of $37.4 billion.
“At the moment, we are spending over $100 million a day more than we’re collecting in revenue. Now that’s unsustainable, particularly given we’re spending nearly $40 million a day on the interest on the…
The missing element in this week’s mid-year economic and fiscal outlook, and more broadly, in current government policy, stares Australians in the face. Revenue needs to be increased. Increasing taxes…
The government’s recent budget outlook (MYEFO) confirmed that the Australian government budget is rotten at the core. The government is hopelessly living beyond its means, with expenditure greater than…
Media reports preceding the mid year economic and fiscal outlook suggest we should expect a deficit of just under A$50 billion, a further deterioration of Australia’s budget position since the pre-election…
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Professorial Fellow, University of Canberra
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Professor of Economics, University of Canberra
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Emeritus Professor of Economics (Griffith University) and Teaching Associate (University of Queensland), Griffith University
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Senior lecturer, Canberra School of Government, University of Canberra
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Professor, Department of Economics, The University of Melbourne
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Scientia Professor of Economics, UNSW
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Visiting Fellow, Crawford School of Public Policy, Australian National University
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Professorial Research Fellow, Melbourne Institute, The University of Melbourne
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Professorial Fellow in the Department of Economics, The University of Melbourne
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Visiting Professor of Tax Law, New York University, and Professor of Law, The University of Melbourne