Heroic Turnbull endorses Budget of Lies

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From the AFR:

Prime Minister Malcolm Turnbull has dismissed fears that a sudden slump in government revenue would trigger a cut in the AAA, saying the forecasts in the May budget remain solid.

Speaking after Fitch Ratings on Tuesday warned the failure of the Coalition government to win a strong electoral mandate could worsen internal party politics, hamper budget repair and limit Canberra’s ability to respond to a crisis, Mr Turnbull conceded the nation was in a “volatile” global economic environment.

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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.