Jim Chalmers’ budget surplus ‘just dumb luck’

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Treasurer Jim Chalmers’ budget surplus of $22.1 billion is “just dumb luck”, according to former Howard government minister Peter McGauran. His comments come after Labor announced Australia’s first surplus in 15 years. “Coal and gas income is through the roof, personal income tax is up because there’s a lower number of people unemployed and company profits are up,” Mr McGauran told Sky News Australia. He said the surplus came down to being “all receipts”. “Has there been any reform or restructure of the tax system? No. Has there been any productivity gains? No. Has there been giving into the unions on everything? Yes.”