Changes to the government’s targets in its budget update give it room to spend more.
Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update.
The Conversation, CC BY29.7 MB (download)
The figures indicate a worsening economy, but the government has sought to put a positive spin on the situation, saying the Australian economy is showing resilience.
The projected surplus has been revised down from A$7.1 billion at budget time to $5 billion for this financial year.
Charter of Budget Honesty aside, we can expect assumptions that stretch credulity so the Australian government can maintain its surplus forecast.