L-plate Recessionberg crows about surplus as economy stalls

Advertisement

Via The Australian we get another glimpse of how far behind the economy are our illustrious leaders today:

Josh Frydenberg says he will deliver a surplus budget before a federal poll, despite doubts cast on that commitment by a global ratings giant and the possibility of an early election.

In contrast to the government’s December announcement of an early return to surplus — a centrepiece of its election pitch — Fitch Solutions said the government would remain in deficit to the tune of 0.1 per cent of GDP next financial year following a deficit of 0.3 per cent this year.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
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.