“Treasurer Jim Chalmers and Finance Minister Katy Gallagher have announced a budget deficit of $26.9 billion amid a surge in spending by the Albanese government.
Mr Chalmers and Ms Gallagher revealed the Mid-Year Economic and Fiscal Outlook at a press conference on Wednesday.
While the $26.9 billion deficit for 2024-25 has been downgraded by $1.3 billion, significantly larger deficits have been forecasted for the next three years.”
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Australia is facing a decade of deficits caused by the economic mismanagement of the major parties.
They have no idea as to how to turn Australia around.
In order to get Australia back on track, we need to implement real economic solutions fast.
Only People First has the experience and knowledge to implement these solutions. These include:
1) Cutting bureaucratic waste and regulations
2) Abolishing subsidies especially for renewables
3) Cutting income taxes on hardworking Australians
4) Reskilling our workforce with a greater focus on trades and manufacturing rather than domestic services.
5) Increasing Withholding taxes on profits sent offshore
6) Creating an Infrastructure Bank to fund the construction of Dams, Power stations, Road, Rail, Ports and Airports
7) Lower Immigration and put Australians first
Quote from:
https://www.skynews.com.au/australia-news/politics/treasurer-jim-chalmers-reveals-smaller-deficit-in-midyear-budget-update-defends-governments-economic-management/news-story/9867b09a968612e24b0f69c5712f0074
