Treasurer Jim Chalmers will unveil a record final surplus of $22 billion for last financial year, the largest ever in dollar terms.
Treasurer Jim Chalmers will unveil a record final surplus of $22 billion for last financial year, the largest ever in dollar terms, thanks to surging personal and company tax payments.
Dr Chalmers, who worked for Mr Swan, will herald the first Labor surplus since 33 years ago, when his political hero Mr Keating was treasurer. “Our responsible budget management has not just delivered the first surplus in 15 years, it’s also taken pressure off inflation, interest rates and the cost of living.“By banking most of the revenue upgrade when inflation was at its peak, our budget strategy has been exactly right for the times and suited to the challenges we confront.”
“The budget got better mostly because it was never as bad as Treasury projected it to be,” Mr Richardson said.“The budget came good despite our politicians, not because of them.
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