Tag Archives: deficit

Trajectory to surplus not the same thing as budgeting for a surplus

Posted on May 13, 2015 by Gene Tunny

As I mentioned to Pat Hession on Townsville ABC radio yesterday afternoon, the 2015-16 Federal Budget simply kicks the can down the road, as they say, leaving it for a future Government (or this one if it stays in power) … Continue reading →

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Qld Government will find it a big challenge to achieve its fiscal strategy

Posted on March 19, 2015 by Gene Tunny

Queensland Treasurer Curtis Pitt has rightly labelled the upcoming 2015-16 Budget as “no frills” (see ABC news report). The Government cannot afford any frivolous expenses, because the budget challenge it faces is massive. The major problems the Government has are: … Continue reading →

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Budget blowout highlights risk of permanent deficits without major spending cuts

Posted on December 15, 2014 by Gene Tunny

With today’s Mid-Year Economic and Fiscal Outlook expected to reveal a blowout in this year’s budget deficit from around $30 billion to $35-40 billion, the Commonwealth Government is right to be reviewing childcare benefits and the proposed paid parental leave … Continue reading →

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Qld Treasury right that paying down State debt is a huge challenge

Posted on March 19, 2014 by Gene Tunny

Queensland Treasury’s new Economic and Fiscal Challenges report reiterates the huge challenge ahead in paying down debt and restoring Queensland’s AAA credit rating, which isn’t a likely prospect this decade. The projection that debt levels will stabilise at around $80 … Continue reading →

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Disasters have had huge budgetary impacts

Posted on June 4, 2013 by Gene Tunny

The Queensland State Budget is out and it contains a clear analysis of the huge budgetary impact of natural disasters, particularly: the large expenditure associated with disasters (e.g. around $2.5 billion to deal with ex-Tropical Cyclone Oswald’s impacts); and the … Continue reading →

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Long-term education target unlikely to be met – haven’t we learned from previous unachievable targets?

Posted on May 15, 2013 by Gene Tunny

The National Plan for School Improvement released with the 2013-14 Commonwealth Budget has the potential to signficantly lift educational outcomes across Australia and is therefore one of the positives of this Budget. But I’m skeptical of the Government’s stated ambition … Continue reading →

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Debt ceiling is an important constraint on government expenditure

Posted on January 16, 2013 by Gene Tunny

I’m somewhat surprised that the Economist in its latest issue argues the US debt ceiling “serves no useful purpose and should be abolished” (From cliff to ceiling). A debt ceiling is important because it forces the Government to consider the aggregate … Continue reading →

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