Treasurer Jim Chalmers has revealed a big hit to the budget bottom line with the nation’s debt set to crash through $1 trillion in the coming year.

Sydney Morning Herald

Sydney

New South Wales

Australia

Tax cut hopes crash after $22 billion blowout

Media Bias/Fact Check

Nine Entertainment Co.

The Albanese government has handed down its mid-year budget update.

ABC Australia

Australian Government

Gloomier economy to shape election as government spends $19 billion

New figures reveal Australia’s financial position to be heading in a worse position than originally predicted.
The forecasted deficit for the current financial year is $26.9 billion, an improvement of $1.3 billion. However, over the next four years, the combined deficit will reach $143.9 billion—$21.8 billion worse than originally predicted.
Treasurer Jim Chalmers released the latest figures for Australia’s Mid‑Year Economic and Fiscal Outlook, …

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The Epoch Times

Epoch Media Group

New York

United States

Australia’s Deficit to Be $22 Billion Worse Off Than Originally Predicted

Jim Chalmers has been grilled about the record number of Australian business insolvencies hitting the wall.

7NEWS Australia

Kerry Stokes

Treasurer dodges crucial question on record number of businesses collapsing this year

Treasurer Jim Chalmers today blamed the deficits on "unavoidable spending" while delivering the Mid-Year Ec...

9News

Gloomy outlook for economy as deficit to balloon by $21.8b

The midyear budget update revealed a record for off-budget expenditure, which experts have warned obscures scrutiny of promises and adds to inflation.

Australian Financial Review

Labor’s hidden spending boom to top $90b

Economists expected blowout in this year's mid-year budget update, but the government has unveiled a smaller deficit (with the blowouts coming later). The post Chalmers reveals lower deficit this year, and billions more in deficits beyond appeared first on Crikey.

Tax cut hopes crash after $22 billion blowout

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