There is something seriously wrong with the federal budget.
Tax and other government revenue are hovering near a sustained record high of 25.5 per cent of the economy thanks to once-in-a-generation windfalls.
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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
