There is almost $5 billion of decisions taken but not yet announced still left in the federal government’s kitty from the mid-year budget update.
One of the largest projects announced by Mr Morrison has been a $2.2 billion commitment for a major road project in South Australia. Of the $2.2 billion, only $754 million is earmarked to be spent by 2024-25.Last week, Deputy Prime Minister Barnaby Joyce announced an extra $678 million to seal and upgrade the Outback Way route that stretches between Queensland and Western Australia. That funding is spread out over the next nine years.
“Our careful economic management has maintained Australia’s AAA credit rating and driven unemployment to historic lows while enabling careful investment in policy areas such as health, women’s safety, bushfire recovery and the protection of our environment.”Senator Birmingham was quizzed about the secret funds in Senate estimates a fortnight ago and the expectation they would be announced before the budget.
In the mid-year update, the government forecast a deficit of $99.2 billion this year, a $7 billion improvement on what it had initially expected. The deficit for 2022-23 was forecast to edge down to $98.9 billion and then to $84.5 billion the following year.
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