The federal government has squirrelled away up to $16 billion in spending decisions to be unveiled between now and the federal election in a mid-year budget update which shows only a $2.3 billion improvement to the bottom line over four years, before a deterioration in deficits over the medium term.
The Mid-Year Economic and Fiscal Outlook, released on Thursday, also forecasts unemployment to fall sustainably below 5 per cent and wages growth to outstrip inflation over the four-year forward estimates.
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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
