Budget surplus: Former Swan staff head Jim Chalmers questions Josh Frydenberg prediction
Call that a surplus? Richard Ferguson, The Australian, December 3:
Opposition finance spokesman Jim Chalmers has questioned whether Josh Frydenberg will … hand down … a surplus. “If the government gets to the budget … they will be claiming a surplus for the following year, which is a very different thing from handing down an actual surplus.”
This is a surplus. ABC’s AM, February 26, 2009:
Wayne Swan: We’ve made it very clear that we want to return our budget to surplus as quickly as we can.
Swan’s budget speech, May 11, 2010:
Every dollar of new policy in this budget has been offset … a strategy that will see the budget return to surplus in three years’ time, three years ahead of schedule, and ahead of every major advanced economy.
Seven’s Sunrise, August 18, 2010:
Swan: Well, we’re getting back into surplus in three years, Kochie … come hell or high water.
Failure? Sky News, August 19, 2010:
Host: If you don’t get the budget back into surplus in three years, what happens? Do you sack the treasurer? Do you take personal responsibility?
Julia Gillard: It’s happening, David. Failure is not an option.
Nine’s Today, November 7, 2010:
Gillard: The budget will be back in the black, back in surplus, in 2012-13.
Laurie Oakes: Guaranteed?
Gillard: Yes … as promised.
Swan, February 7, 2012:
We’ve got our colours nailed to the mast … producing a surplus in 2012-13.
Swan’s budget speech, May 8, 2012:
The four years of surpluses I announce tonight are a powerful endorsement of the strength of our economy … We’ll be back in the black by 2012-13, on time, as promised.
He did it! James Thomson, smartcompany.com.au, May 8, 2012:
Well, he’s done it. Treasurer Wayne Swan has kept his political promise to deliver a surplus in 2012-13 …
We did it. Julia Gillard, July 4, 2012:
We saved jobs, stayed out of recession and got back to surplus.
They did it. Phillip Coorey, Sydney Morning Herald, October 22, 2012:
Swan unveils $1.1b surplus.
Oops. Jacob Greber, The Australian Financial Review, October 20, 2012:
Swan’s grip on surplus gets slippery.
Oh dear. Swan, December 20, 2012:
It’s unlikely that there will be a surplus in 2012-13.
Big spender. ABC 7.30, May 14, 2013:
Host Leigh Sales: Wayne Swan, last year you promised … a $1.5 billion surplus. Tonight you’ve delivered an $18bn deficit. How can you look Australians in the eye?
Swan: Very clearly … we’re looking at a $17bn revenue writedown …
Sales: … The deficit is $18bn. You would have still been in deficit even if you earned every last cent you anticipated … In 2010-11 revenue grew by 6 per cent, the following year … by 9 per cent. This year … by 6 per cent. Doesn’t that indicate Australia … has a problem with overspending, based on inflated expectations?
Pre-election economic and fiscal outlook, August 7, 2013:
An underlying cash deficit of $30.1bn is estimated for 2013-14.
What’s it got to do with Jim? Chalmers biography, aph.gov.au:
(Deputy and chief of staff to the treasurer and deputy prime minister 2007-13)