The surplus prediction contrasts with the Coalition’s last forecast for a $78 billion deficit this financial year, but the budget will sink into deficits again.
Chalmers said the government was taking a “cautious, careful and conservative” approach to forecasting a surplus and declared there would be no “back in black mugs” – a reference to Liberal Party merchandise that celebrated a surplus before the pandemic swept away the positive forecasts.
But the Coalition is turning its focus on the economic objective of fighting inflation and preparing to oppose new initiatives such as a“Look, a drover’s dog can deliver a budget surplus this year,” Taylor said on Sunday.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal budget: Budget to ease cost of living without fuelling inflation: ChalmersLabor has found funding for future programs while managing almost $1 trillion in debt, says Albanese; Jane Hume criticises Labor for not prioritising budget repair. Follow updates here.
Read more »
Federal budget 2023: what we know so far about treasurer Jim Chalmers’ budgetFrom welfare to health, childcare and housing, Guardian Australia examines what has been revealed about the Albanese government’s budget
Read more »
Federal budget: Labor to collect billions more in petroleum resource rent taxTreasurer Jim Chalmers and finance minister Katy Gallagher announce changes ahead of budget tipped to be at or near surplus
Read more »
Federal budget to provide cost-of-living relief to 'people doing it toughest'Labor's federal budget will be centered around providing cost-of-living relief to vulnerable Australians, with Treasurer Jim Chalmers hinting at a 'responsible' budget to be unveiled on Tuesday. DETAILS: 9News
Read more »
Fossil fuel tax changes set to give $2.4 billion boost to federal budgetChanges to the petroleum resource rent tax will help to give Australians cost-of-living relief, Treasurer Jim Chalmers says.
Read more »
Increase in JobSeeker payment ‘across the board’ expected in the budgetSky News can reveal there will be an increase in the JobSeeker payment “across the board” of up to $40 a fortnight, according to Sky News Political Editor Andrew Clennell. Mr Clennell said the increased revenues allow an increase to the JobSeeker payment across the board to be “ratified” in an Expenditure Review Committee meeting. “I am told the JobSeeker increase could be up to $40 a fortnight,” Mr Clennell said. “To deliver a surplus and not deliver such assistance when JobSeeker is just $49 a day would have really angered the Labor base.”
Read more »