Federal Treasurer Jim Chalmers is set to manage the expectations of a larger surplus in a pre-budget address, warning a decline in iron ore prices and a softening labour market will impact the bottom line.
The government has some big spending commitments ahead of it including an expansion of the NDIS, aged care and university funding. Mr Chalmers will use the address to outline what he believes are the "three biggest drivers of our thinking about this third budget"."In each of our first two budgets, we benefited from more than $100 billion in revenue upgrades."In fact, we are even looking at much less than the $69 billion we booked in the latest mid-year budget update.
Source: News Formal (newsformal.com)
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