The government will delay the task of budget repair for another three years despite a stronger than expected recovery in jobs growth, including a forecast the unemployment rate will fall below 6 per cent a year earlier than predicted just two months ago.
Releasing the mid-year budget update on Thursday, Treasurer Josh Frydenberg said the 5.75 per cent unemployment forecast for 2022-23 did not meet his benchmark of being “comfortably below 6 per cent”.
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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
