MYEFO brings the austerity

Oh yeh, they’re nuts alright, via The Australian:

The budget has been hit with a writedown of more than $30 billion in government revenue due to the weaker global outlook and an expected downgrade in domestic economic growth to around 2.25 per cent.

But the government will ­remain on track to deliver surplus budgets over the next four years, with major savings expected from reduced government spending.

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