/ 28 September 2022

One for true economics nerds…

Image source: AAP
Image source: AAP

We got a bit of a sneak peek last week when Treasurer Jim Chalmers revealed that our federal finances for the 2021/22 financial year could be $50 billion healthier than expected. And today, Chalmers will reveal what is enticingly called the ‘final budget outcome’ for that period. Why is that important? The Budget – usually announced to great fanfare in May – is a projection for the coming 4 years, whereas this is what those in power actually did with our money looking back at the last year. And this year, the final budget outcome is even more relevant because Team Albanese is delivering a new budget on 25 October to deal with all the challenges, so today’s numbers represent the starting line for the new government. Also high on the list of things to watch from Parliament House today: Labor’s legislation for a National Anti-corruption Commission will be introduced. Heady times…

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