Labor to save larger surpluses

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The AFR is reporting that Chris Bowen is intent upon higher surpluses:

Federal Labor says it will bank revenue windfalls to help insulate the economy against global shocks as it pledges to deliver a better budget outlook should it beat the Coalition at the next election.

…”The global economy is in the midst of its strongest upswing in a decade, which means the government should be banking extra, unanticipated improvements to insure Australia against rising global risks,” he said.

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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.