The treasurer today announced a $15.8 billion budget surplus in a final economic update for the previous fiscal year.
"This is a powerful demonstration of our responsible economic management," Chalmers said in a press conference.Jim Chalmers confirmed the budget surplus while addressing the media. Chalmers said the huge nominal budget improvement was due to Labor's 'spending restraint'.He said it was not because Labor taxed more but because it spent less.Katy Gallagher, Minister for Finance, echoed Chalmer's message that the surplus was due to spending restraint.
Finance Minister Katy Gallagher echoed Chalmer's message about Labor's spending being the key to the second surplus. "It's definitely the opposite of what you've been told this morning by the shadow Minister for Finance," she said. Shadow Finance Minister Jane Hume claimed earlier today Chalmers had achieved the second surplus "on the back of the hard work" of Australians and with "a bit of dumb luck".
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