Chicken Chalmer’s poisoned surplus

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Let us all cheer Chicken Chalmers:

The budget surplus for this financial year will be “significantly” higher than the $4.2 billion forecast last month, thanks to revenue from the jobs boom, sustained high prices for commodities and company profits.

Dispensing with the caution he displayed at the May budget, Treasurer Jim Chalmers will confirm the nation’s coffers will be in the black for the first time since the global financial crisis 15 years ago.

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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.