Articles on budget deficit

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In his Bloomberg Address on Thursday Scott Morrison talked of ‘the taxed and the taxed-not’. David Moir/AAP

Watch your language, Scott Morrison

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…
Malcolm Turnbull says he and his ministers are engaging with all the Senate crossbenchers to seek support for a responsible policy approach. Aaron Bunch/AAP

Turnbull to Labor: pass our $6 billion savings bill

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.
London’s trading strength has evolved from dockyard cranes to high finance. Rubén Moreno Montolíu/Flickr

Britain drops one deficit target and ends up facing a new threat

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.
Scott Morrison and Mathias Cormann have announced the Coalition’s election costings. Adrian Muscat/AAP

Coalition squeezes welfare lemon again

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.
Chris Bowen and Tony Burke put out Labor’s costings just after Malcolm Turnbull’s official launch of the Coalition’s campaign. Dan Peled/AAP

Labor costings: ALP deficit $16.5 billion higher over the budget period

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 announced a suite of savings measures at a press conference in Sydney. Mick Tsikas/AAP

Bill Shorten’s savings package looks a little desperate

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…
Chris Bowen stressed that Labor’s fiscal program, when fully released, would ‘see us return to budget balance in exactly the same time frame as the government’. Mick Tsikas/AAP

Labor to release savings package

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.
Economic reality has intruded on rosy budget predictions for years now and the Pre-election Economic and Fiscal Outlook may soon challenge Treasurer Scott Morrison’s forecasts. AAP/Mick Tsikas

Three critical tests for Budget 2016: how does it fare?

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.
Deloitte strongly argues the budget has a revenue problem, not just a spending problem – a proposition consistently rejected by Treasurer Scott Morrison. Lukas Coch/AAP

Deloitte projects $129 billion four-year cumulative deficit, proclaims ‘a revenue problem’

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.
More people are going to A&E. www.shutterstock.com

Hospital deficits are skewing NHS priorities

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.

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