Second surplus on track for Australia but budget will report a fall in revenue, says treasurer
by Peter Hannam from Economics | The Guardian on (#6KAD2)
Jim Chalmers says slide in iron ore prices and uptick in jobless rate mean budget will report a much smaller revenue upgrade than in recent years
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The government remains on track for a second straight surplus but the recent slide in iron ore prices and an uptick in the jobless rate mean the budget will report a much smaller revenue upgrade than in recent years, the federal treasurer, Jim Chalmers, says.
The coming budget, to be released on 14 May, will aim to address slowing economic growth, persistent cost of living pressures", and increased global uncertainty, Chalmers will tell a Committee for Economic Development of Australia lunch in Sydney on Thursday.
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