While commodity prices are propping up revenue and a likely surplus, household consumption is flat and savings have fallen – and there’s an election coming
Myefo 2023: federal budget on track for wafer-thin $1.1bn deficit
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Only a collapse in commodity prices or a sharp rise in unemployment – and probably both – will prevent the Albanese government from delivering back-to-back budget surpluses.
Treasurer Jim Chalmers’ challenge will be to fend off the inevitably rising demands to share some of his good fortune with households set to face a prolonged squeeze likely to last until mid-2025 when the next federal election much be held.
Continue reading…While commodity prices are propping up revenue and a likely surplus, household consumption is flat and savings have fallen – and there’s an election comingMyefo 2023: federal budget on track for wafer-thin $1.1bn deficitFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails,free app or daily news podcastOnly a collapse in commodity prices or a sharp rise in unemployment – and probably both – will prevent the Albanese government from delivering back-to-back budget surpluses.Treasurer Jim Chalmers’ challenge will be to fend off the inevitably rising demands to share some of his good fortune with households set to face a prolonged squeeze likely to last until mid-2025 when the next federal election much be held. Continue reading…