Via the PBO:
This fourth edition of the Parliamentary Budget Office’s (PBO’s) medium-term projections report shows that ongoing government spending restraint, combined with lower public debt interest payments, are driving an improving fiscal position…
The underlying cash balance is projected to improve over the next decade to a surplus of 1.6 per cent of gross domestic product (GDP) by 2029–30. This is projected to result in a significant reduction in government debt, with net debt projected to have peaked in 2018–19 and to then decline to 1.6 per cent of GDP by 2029–30.
