An improvement in the budget deficit will form a psychological fulcrum for Liberal Party MPs offering voters cash paid for with debt.
At 7.30pm AEST on Tuesday, Treasurer Josh Frydenberg will stand at the dispatch box in the House of Representatives and, to the sound of “here, heres” from the government benches, boast of financial adroitness amid sickness and war.– Frydenberg will declare.
This year’s budget deficit, which Deloitte Access Economics tips will be about $70 billion, isn’t less worse because of Frydenberg’s custodianship of the public finances.The improvement reflects a failure of last year’s forecasts, when Canberra-based public economists and accountants overestimated the health and economic damage of the COVID-19 pandemic.
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