Interesting Aust Govt Surplus/Deficit

[malleefarmer]

A surge in mining industry profits and tax revenue have boosted Commonwealth coffers and allowed the Federal Government to forecast a bigger-than-expected surplus next year.

The forecast deficit for 2018/19 is cut from $14.5 billion to $5.2 billion

The forecast surplus for 2019/20 is up from $2.2 billion to $4.1 billion

The Government has received $8.3 billion more than it expected in the first half of this financial year, thanks largely to greater collections of individual and company taxes.

It now expects to deliver a $4.1 billion surplus in 2019-20.

But this has to be weighed up against who knows how many % drop in rural exports and income.

So yeah australia really still is a resource based economy to a fair degree, would suggest coal iron ore the big 2.

So there hope us aussies might get out of our mire in next 10 or so years govt spending out been reinged in with change back to conservative govt after i think 10 or 11 years of labour left wing socialists and middle ground socialits.

But here the big but labour at annual conference over weekned said they will build 250000 new home for low income people nothing wrong with that, except how you gonna pay for it??

You guessed it out of the surplus from previous govt if and when they get in.

Sound familiar to you guys

[Guest]

More dramas for the Morrison government with Andrew Broad learning from Barnaby Joyce. I think labor would have a chance if it wasn't for Nill Shortening. Would they win if Albanese was leader? I think Hanson and Palmer could hold the balance of power come election time. You done harvest mate?

[blackpowder]

Gee, developing available resources for mutual benefit. Wish our govts would learn from that.

[sumdumguy]

TY Mallee, maybe there is a tiny glimmer of light at the end of the tunnel. But only if we can learn from success.