Poof! Surplus gone

Advertisement

Via Domain:

The budget surplus is almost certainly gone as economists warn the Morrison government’s run of good luck has finally ended with the coronavirus and bushfires punching holes in revenue and forcing up spending.

…Deloitte Access Economics believes the virus will cut about $1.8 billion from budget revenues this financial year, with a further but smaller hit in 2020-21.

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.