In the twelve months to March 2018, the Budget deficit stood at $14 billion (around 0.8 per cent of GDP) – the smallest rolling annual deficit for nine years.
Companies drive improvement: Company tax collections in the year to March were up 23 per cent on a year earlier, close to the fastest growth in six years.
The full text of this article is available to MacroBusiness subscribers
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.
