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1.Market Observations, 8.Was Sticky

23 Dec 2016 (TheAge) – Never mind the expanding deficit, lack of growth is the real concern – Beyond the headlines, the MYEFO bit that matters most

(23 December 2016, TheAge, BusinessDay, p19, Michael Pascoe)

‘As the coalition sowed, it has reaped with this week’s mid-year economic and fiscal outlook (MYEFO). The Treasurer is left spinning hard over $30 billion disappearing from May’s revenue forecasts, just as his predecessors were when much the same thing happened to them. What goes around… ‘

‘It’s been amusing at times – Scott Morrison stressing that he never predicted a surplus in 2020-21, it was merely “a projection” – but unfortunately the welter of headlines concentrating on the increased deficit over the next few years and what the ratings agencies might or might not think about our AAA rating have missed the most important of the exercise: what’s happened to growth?’



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