From Peter Martin:
Treasury Secretary John Fraser told the committee that if the terms of trade stayed high, the government should “prioritise budget repair and ensure that any additional revenue is banked as an improvement to the budget bottom line”.
“We need to take great care not to fall into the trap of spending unexpectedly higher revenue, should it arise, in a way that would structurally weaken the budget as may have occurred through the early 2000s,” he said.
