The federal budget will be “dramatically better” in the short term, but suffer a $30 billion spending blowout over the next four years due to higher inflation-linked welfare payments and other pressures, Treasurer Jim Chalmers says.
The economic statement underlines the budget paradox confronting the government, as it talks up the need for budget repair.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
