Politics with Michelle Grattan: Treasurer Josh Frydenberg on promising budget figures.
Michelle Grattan discusses MYEFO with Treasurer Josh Frydenberg.
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Articles on MYEFO
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The economic recovery is looking more and more V-shaped, the budget recovery will be much slower.
The federal government has announced A$850 million for 10,000 additional home-care packages, as part of $1 billion for aged care. Here's why that's not nearly enough.
The government will inject a further $1 billion into aged care, most of it for home care packages, in Thursday's budget update.
He is trying to transition out of stage one while drawing up stage three.
I'd hoped to keep my absence nice and private, especially from those quiet Australians fighting fires. Regrettably, despite best efforts, my press office wasn't able to keep a lid on the story.
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.
MYEFO contains a long-overdue admission: that low wage growth is the new normal. It'll take extraordinary spending restraint to make the surplus forecasts stick.
The treasurer has pulled out all stops to continue to forecast budget surpluses, but they are low, and don't take account of several likely costs.
The projected surplus has been revised down from A$7.1 billion at budget time to $5 billion for this financial year.
With a budget surplus in sight, it makes no sense to cut funding from Australia's research capacity.
When assessed by the government's own rules, MYEFO fails. The government is spending the latest revenue windfall even though it promised not to.
The budget line known as "decisions taken but not yet announced" points to $9 billion of unannounced tax cuts.
The government is worried about a conference which is a highly managed affair where divisions are being contained and participants have their eyes firmly on the prize of Labor winning power next year.
History suggests the government will spend most of the extra $10 billion per year that the MYEFO will reveal on Monday. The only problem is, those riches won't last.
The cuts to higher education funding are more about making savings than improving higher education, and would be extremely hard to change in the future.
Next year GDP will grow at the second-slowest rate in 16 years, according to MYEFO. This has big implications for unemployment and the deficit.
Ahead of the Mid Year Economic and Fiscal Outlook, minister for defence industries Christopher Pyne said a lot of jobs were created in 2016 and Australia has the highest growth rate in the G7. Is that true?
A lot has changed in the global economy since the Federal Budget 2016.
The US Fed meets expectations for a rate cut, Australia's unemployment rate heads upwards again, and all eyes look to the mid year budget update.
Top contributors
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Professorial Fellow, University of Canberra
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Professor of Economics, UNSW
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Professor of Institutional Economics, RMIT University
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Professorial Fellow in the Department of Economics, The University of Melbourne
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Stephen Duckett is a Friend of The Conversation.
Director, Health Program, Grattan Institute
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Professor of Economics and National Senior Teaching Fellow, Griffith University
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Fellow, Grattan Institute
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Danielle Wood is a Friend of The Conversation.
Chief executive officer, Grattan Institute
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Industry Professor, University of Technology Sydney
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Professor, Department of Economics, The University of Melbourne
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Director and Professor, Australia-China Relations Institute (ACRI), University of Technology Sydney
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Professor, The University of Melbourne
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Professor, Monash University
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Professor of Economics, University of Sydney
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Lecturer, Department of Economics, Federation University Australia
