Tue, December 17, 2024
[ 06:41 PM ] - United States, The Australian Financial Review
[ 06:40 PM ] - United States, The Australian Financial Review
Mon, December 16, 2024
[ 03:01 PM ] - United States, The Australian Financial Review
Sun, December 15, 2024
[ 11:00 PM ] - United States, The Australian Financial Review
[ 09:20 PM ] - United States, The Australian Financial Review
[ 01:21 PM ] - United States, The Australian Financial Review
[ 01:20 PM ] - United States, The Australian Financial Review
Fri, December 13, 2024
[ 12:00 AM ] - United States, The Australian Financial Review
Tue, December 10, 2024
[ 07:00 PM ] - United States, The Australian Financial Review
Sat, December 7, 2024
[ 09:20 PM ] - United States, The Australian Financial Review
Thu, December 5, 2024
[ 01:30 PM ] - United States, The Australian Financial Review
A decade of deficits and a modest $5.5b election war chest
- The budget is not estimated to return to surplus for at least a decade, and cumulative deficits over the next four years will be almost $22 billion larger than forecast in May.
The article from the Australian Financial Review discusses the federal government's financial outlook as outlined in the mid-year economic and fiscal outlook (MYEFO). It highlights that Australia is facing a decade of budget deficits, with the current year's deficit projected at $1.1 billion, significantly lower than previously forecasted due to higher commodity prices and a stronger labor market. Despite this, the government's financial position remains weak with gross debt expected to reach $1 trillion by 2026-27. The article also notes that the government has a modest $5.5 billion set aside for pre-election spending, which is considered insufficient for significant policy announcements or voter incentives. Treasurer Jim Chalmers has emphasized fiscal responsibility, focusing on managing inflation and cost-of-living pressures rather than engaging in expansive spending. The piece also touches on the political implications, suggesting that the opposition might use the government's fiscal constraints to their advantage in the upcoming election campaign.
Read the Full The Australian Financial Review Article at:
[ https://www.afr.com/politics/federal/a-decade-of-deficits-and-a-modest-5-5b-election-war-chest-20241218-p5kz6x ]
Read the Full The Australian Financial Review Article at:
[ https://www.afr.com/politics/federal/a-decade-of-deficits-and-a-modest-5-5b-election-war-chest-20241218-p5kz6x ]
Contributing Sources