Surpluses may be as rare as hen’s teeth In the decades ahead unless we do something about the fiscal challenges set out in the 2020 Intergenerational Report.
Monday’s release of the mid-year economic and fiscal outlook (MYEFO) prompted a predictable and largely collective shrug. As expected, the budget is still due to be back in surplus this year – the first surplus for more than 10 years, five prime ministers and four treasurers.
Does anybody care?
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Stephen Smith is a partner at Deloitte Access Economics.
David Watkins is the leader of the Deloitte Australia Tax Insights & Policy group.
