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Staring down years of deficits, Chalmers spruiks budget as a 'platform for prosperity'

  • Australia will face a record debt level of $940 billion for the 2024/25 fiscal year, according to Treasurer Jim Chalmers.
  • Chalmers noted that responsible economic management will save taxpayers $60 billion in interest costs over the next eleven years despite rising borrowing costs.
  • Deloitte Access Economics predicts an underlying deficit of $26.9 billion, slightly better than previous estimates, as spending promises impact government debt.
  • Economist Chris Richardson states that the government's approach to off-budget spending makes true underlying deficits increasingly irrelevant.
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Newcastle HeraldNewcastle Herald
+3 Reposted by 3 other sources
Lean Left

Tax reform laid bare as Labor entrenches budget deficit

Australia's federal budget has locked in a decade of deficits, with structural reforms needed to reduce the tax...

·Newcastle, Australia
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  • 60% of the sources lean Left
60% Left
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Australian Financial Review broke the news in Sydney, Australia on Sunday, March 23, 2025.
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