Budget’s ‘piddling’ $700 million blowout

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Treasurer Josh Frydenberg is celebrating today as he announced the Government’s budget deficit for this year, but not everyone shares his joy.

The final results for the 2018-19 Budget delivered the Morrison Government a surplus in triumphalism and almost one in cash.

The outcome for their past financial year showed some 100,000 more people were in jobs than anticipated when their 2018-19 Budget was delivered last year. However, quite a few households will be wondering why, if things are so good, how come financial life for them is still so hard? Labor is accusing the Government of good luck rather than good management, particularly in the fortunate and sizeable jump in iron ore prices. We exported more rocks at higher prices than anticipated. Labor also is claiming the better bottom line came from reduced spending on the National Disability Insurance Scheme, a claim the Government strongly rejects, saying money is spent on the NDIS to satisfy demand.

 

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