Jim Chalmers says slide in iron ore prices and uptick in jobless rate mean budget will report a much smaller revenue upgrade than in recent years
The government remains on track for a second straight surplus but the recent slide in iron ore prices and an uptick in the jobless rate mean the budget will report a much smaller revenue upgrade than in recent years, treasurer Jim Chalmers said.
The coming budget, to be released on 14 May, will aim to address slowing economic growth, “persistent cost of living pressures”, and increased global uncertainty, Chalmers will tell a Committee for Economic Development of Australia lunch in Sydney on Thursday.
Continue reading…Jim Chalmers says slide in iron ore prices and uptick in jobless rate mean budget will report a much smaller revenue upgrade than in recent yearsGet our morning and afternoon news emails, free app or daily news podcastThe government remains on track for a second straight surplus but the recent slide in iron ore prices and an uptick in the jobless rate mean the budget will report a much smaller revenue upgrade than in recent years, treasurer Jim Chalmers said.The coming budget, to be released on 14 May, will aim to address slowing economic growth, “persistent cost of living pressures”, and increased global uncertainty, Chalmers will tell a Committee for Economic Development of Australia lunch in Sydney on Thursday.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…
