It's just plain dumbBY BENJAMIN ONG | FRIDAY, 7 DEC 2012 9:10AMI don't think any Australian would complain if the 2012/13 budget shows a small deficit instead of a small surplus. |
Editor's Choice
APRA investigating Diversa's executive compensation
APRA has commenced an investigation into if Diversa's executive remuneration decisions were made in accordance with prudential standards and trustees' duties under the Superannuation Industry (Supervision) Act.
Kudu continues Australian expansion with fresh investment
Kudu Investment Management has acquired a minority stake in a Sydney-based financial advisory business mere days after an identical transaction with Drummond Capital Partners.
Apex takes on Mercer's NZ fund admin business
Apex Group has expanded its presence in New Zealand, agreeing to onboard Mercer New Zealand's fund administration operations as part of its broader growth strategy across Australasia.
Aware Super ups stake in retirement village asset
Aware Super has increased its ownership in Keyton, Australia's largest owner and operator of retirement villages, to 75% by acquiring Lendlease's interest of 25.1%.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Brian Redican
CHIEF ECONOMIST
NEW SOUTH WALES TREASURY CORPORATION
NEW SOUTH WALES TREASURY CORPORATION
What makes an economist an economist? TCorp chief economist Brian Redican reflects on over three decades of navigating Australia's economic cycles. Riddhima Talwani writes.
You need to read the fine print on that declaration from the gov't. The surplus target/prediction was based on that good old saying 'all thing being equal'. It was based on old growth rates which were out of date (and inflated) months ago. They know they aren't getting a surplus already. The change to a deficit target doesn't necessarily mean we'll see government spending go up and taxes go down. It is just acknowledging the fact that the surplus was sunk months ago.