Treasurer to reveal $4b surplus but deficits still to come

with Jim Chalmers to forecast a slender surplus of about $4 billion for this financial year.

The cumulative four-year deficit to be announced on Tuesday will, however, be smaller than previously thought. Tuesday’s budget will also show the cumulative bottom-line improvement over the forward estimates will be $143 billion better than the forecast in the last budget the Coalition handed down in March last year.

“We are taking a cautious, careful and conservative approach to this, there’ll be no Back in Black mugs.” Beyond the surplus year, spending demands on the NDIS, interest payments on debt, aged care, health and defence, will place medium term strain on the budget.

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