PBO declares budget emergency

Monday 20 October 2014

Parliamentary Budget Office (PBO) chief, Phil Bowen, has issued another warning that that Federal Budget is facing an $18 billion black hole by 2024 because of the Senate’s reluctance to pass key Budget measures. From The Australian:

Mr Bowen stood by his call for a “buffer” in the nation’s finances to prepare for a global downturn but said he did not seek to inject “panic” into the savings debate.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.