Advertisement
From the AFR:
With the Coalition swinging its focus towards preparations for the mid-year budget update, which is due within eight weeks, Mr Turnbull cautioned that delivering a budget surplus would be a “very difficult … and long-term challenge”.
…By promising to pursue policies that boost economic growth, spur innovation and encourage infrastructure investment, Mr Turnbull has probably made it harder to balance the budget. The full-year 2015-16 budget deficit is forecast to be $35.1 billion. Gross government debt hit a record $402 billion on Friday.
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
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.
Advertisement