CORANGMITE federal member Sarah Henderson is talking up her government\u2019s financial management, saying the Mid-Year Economic and Fiscal Outlook (MYEFO) shows Australia will have a budget surplus in the next financial year.<\/p>\n
Announced by Treasurer Josh Frydenberg last week, the underlying cash balance in MYEFO is forecast to improve from a deficit of $5.2 billion in 2018-19 to a surplus of $4.1 billion in 2019-20.<\/p>\n
The surpluses are forecast to increase year-onyear to $12.5 billion in 2020-21 and $19 billion in 2021-22.<\/p>\n
\u201cWe have made real progress in strengthening the Australian economy,\u201d Ms Henderson said.<\/p>\n
\u201cWe are on track for a budget surplus in 2019-20, our unemployment rate has fallen to five per cent and welfare dependency is at its lowest rate in more than 25 years.<\/p>\n
\u201cA stronger economy is the key to delivering better essential services in Corangamite. It means more funding for schools, hospitals and infrastructure. It also means tax relief for hard working Australians and small and family businesses.\u201d<\/p>\n
The latest MYEFO also contains more than $9 billion over four years for \u201cdecisions taken but not yet announced\u201d, which has been widely speculated as being earmarked for tax cuts and\/or election commitments.<\/p>\n
Shadow Treasurer Chris Bowen criticised the Coalition\u2019s MYEFO for assuming higher tax income that would come from wages growth returning to strong levels \u201cwhen they have absolutely no policy to bring that about; absolutely none\u201d.<\/p>\n
\u201cIn fact, their policy has been, as it\u2019s been implemented, to cut wages, for the first time in 80 years in Australia.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
CORANGMITE federal member Sarah Henderson is talking up her government\u2019s financial management, saying the Mid-Year Economic and Fiscal Outlook (MYEFO) shows Australia will have a budget surplus in the next financial year. Announced by Treasurer Josh Frydenberg last week, the underlying cash balance in MYEFO is forecast to improve from a deficit of $5.2 billion […]<\/p>\n