The Government’s “Find The Pea Budget Trick”…

As expected, Treasurer Jim Chalmers wants you to believe that the budget is getting better and Labor’s claimed spending restraint is helping the Reserve Bank of Australia contain inflation pressures. But this is all spin. Spin Jim Is At It Again! While the federal government’s mid-year budget update shows a modest improvement in the deficit forecast in 2025–26, much of this comes from a larger-than-forecast tax take. And a deeper dive into the numbers tells a different story. The update, known as the Mid-Year Economic and Fiscal Outlook (MYEFO), estimates a deficit for 2025–26 at A$37 billion, or 1.3% of […]