ANALYSIS: The budget forecasts have relied on dodgy assumptions
The numbers in the budget will be based on "forecasts" of the economy.
Notice there has been a marked slowdown in the rate of wage growth in recent decades. It's currently sitting at a record low 1.4 per cent. Year after year, they've been forecasting that wages growth will pick up to levels the economy hasn't seen since 2011/12.Federal budget papers show Treasury officials have consistently forecast wages to grow at faster rates than they have in recent years.
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.
Border closure to cost country 174,000 new migrantsThe budget reveals the government now expects permanent migrants and international students to begin gradually returning from mid 2022, a year later than it forecast in October’s budget.
Read more »
Federal Budget 2021: International travel ‘assumption’ included in federal budgetAussies itching to book an overseas holiday will be eagerly watching the federal budget, after Treasurer Josh Frydenberg hinted that more news about the travel ban would be announced tonight.
Read more »
RBA counts on household spending but decent wage rises years awayThe Reserve Bank is relying on households to spend billions of dollars of savings over the next few years to underpin its sharply upgraded forecasts for the nation’s economic growth. | JennieDuke swrighteconomy
Read more »
RBA counts on household spending but decent wage rises years awayThe Reserve Bank is relying on households to spend billions of dollars of savings over the next few years to underpin its sharply upgraded forecasts for the nation’s economic growth.
Read more »
Federal budget forecasts NDIS to cost over $30b within three yearsDisability spending through the NDIS is expected to overtake the cost of Medicare by 2024-25, according to budget estimates that will fuel debate about the scheme's sustainability.
Read more »