Labor’s on a splurge. Only higher taxes are saving it

mid-year budget update The numbers all point to a profligate government, with Finance Minister Jim Chalmers touting a slightly lower deficit forecast and spending curbs for this year; a government that was able to avoid much larger deficits thanks to persistent budget gimmicks designed to create the illusion of better fiscal management.

It is stated that this year’s budget deficit, which was estimated to be 42 billion dollars in the budget period before the elections, is now on the way to fall below 37 billion dollars, that is, 1.3 percent.