Bowen to reveal $30 billion black hole this arvo?

Friday 2 August 2013

From AP:

Treasurer Chris Bowen is expected to reveal a $30 billion black hole in revenue when he releases Labor’s economic statement today in Canberra at 1300 AEST.

The economic statement will include a new levy on the banking industry, an increase in tobacco excise and reportedly more help for the car industry.

Confirmation that the statement will be released today has heightened speculation that Prime Minister Kevin Rudd could call the election this weekend.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.