Albanese dismisses reports of $10b deficit blowout

Michael ReadEconomics correspondent

May 7, 2022 – 12.52pm

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Anthony Albanese has dismissed media reports Labor will unveil larger budget deficits than the Coalition when the party releases its costings this month.

Speaking from Launceston on Saturday morning, Mr Albanese said “that’s not the plan” when asked about media reports that Labor’s costings will include budget deficits up to $10 billion greater than the Coalition over the next four years.

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.