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The Guardian - AU
The Guardian - AU
National
Greg Jericho

Australia budget 2023: six graphs that explain this one-off surplus

Australian treasurer Jim Chalmers
Australian treasurer Jim Chalmers has delivered a federal budget surplus – but it’s a one-off rather than something that really means anything. Photograph: Lukas Coch/AAP

And so we again have a budget surplus. No longer will the Coalition be able to take up space in question time asking members of the government when the last time was that Labor delivered a surplus. And to be honest, when looking at the figures in the budget papers, you wonder if that was actually the entire point of the surplus in 2022-23.

Looking across the four years of the budget, we very much see the benefit of windfall taxation revenue (minus the amount of revenue that would have come from a real windfall profits tax).

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