From Ross Gittins today, the campaign of national ignorance returns:
People keep asking me whether the budget’s forecasts for the economy are “credible”. Of course they are. But that’s not saying much. And here’s a tip: don’t believe those saying that Treasury’s forecasts are way too optimistic or way too pessimistic. They wouldn’t know.
Treasury and the Reserve Bank – whose forecasts are essentially a joint exercise – put an enormous amount of time and expertise into their forecasts, far more than any other outfit you could name.
