What’s $682bn between friends, eh Treasury?

Wednesday 24 February 2016

From the Parliamentary Budget Office today comes this indictment of Treasury forecasting over the boom:

That is a combined “miss” over the mining boom of $682bn on the upside and down. These two charts should adorn the grave stones of four prime ministers.

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.