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Budget to shake up iron ore and coal price outlook

The May budget could forecast commodity prices to be higher for longer, providing a boost to revenue and helping cover a multibillion-dollar blowout from unfunded Coalition spending programs including My Health Record.

Treasurer Jim Chalmers revealed on Thursday that Treasury had suggested examining how commodity prices were forecast in the budget, proposing “credible but still conservative” alternatives to the status quo.

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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
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

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    Original URL: https://www.afr.com/policy/economy/budget-to-shake-up-iron-ore-and-coal-price-outlook-20230323-p5cuo6