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I noted earlier this week how the federal budget is facing a decade of deficits.
The situation is even worse when off-budget spending is taken into account.
The federal government will spend a record $90 billion “off-budget” over the next four years, a figure that is not captured in the underlying budget figures.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.