FEDERAL BUDGET FORECASTS
Treasurer Jim Chalmers is predicting an underlying money surplus for the 2022/23 monetary 12 months – the primary delivered by an Australian authorities in 15 years.
This follows a considerable funds enchancment since October on the again of upper commodity costs, a decent labour market and excessive company income.
Deficits will observe for 2023/24 onward, albeit smaller than what the Labor authorities flagged six months in the past.
UNDERLYING CASH BALANCES
* 2022/23 – $4.2 billion (*$36.9b)
* 2023/24 – $13.9b (*$44b)
* 2024/25 – $35.1b (*$51.3b)
* 2025/26 – $36.6b (*$49.6b)
* 2026/27 – $28.5b (n/a)
Total over 4 years: Cumulative deficit of $109.9b.
(*Forecast in 2022/23 funds papers launched in October)
Source: Treasury
Source: www.perthnow.com.au
