Labor’s streak of two full-year budget surpluses is over, with the midyear update forecasting a shortfall of $26.9bn this financial year and deficits until 2034-35. The Coalition’s Angus Taylor argued the update showed “no pathway … to a restoration of Australians’ standard of living”.
But Guardian Australia’s economics corespondent, Peter Hannam, writes that the Myefo suggests more commonwealth rebates seem to be pencilled in for the coming year. And there were some surprise measures buried deep in the 363-page document.
