Labor Senator Deb O’Neil says there is a “big gap” between what the government was promising to deliver in the way of a surplus and what they’ve been able to deliver.
Treasurer Josh Frydenberg has revised down the next four years of projected budget surpluses as a slowing economy wipes $22 billion from the government’s May forecast.
The Mid-Year Economic and Fiscal update, released on Monday, revealed the economic outlook was worse than expected, with growth forecast for wages and the economy also drastically downgraded. “They simply don’t seem to understand the economy,” Ms O’Neil told Sky News. “They talk a big game … the reality is we’ve got everything on the downward slide.” Image: News Corp Australia
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