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. |
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Hugh Killen
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
For Hugh Killen, several life lessons came from spending time on pastoral properties stretching across northern New South Wales and South-West Queensland.
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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 It was based on old growth rates which were out of date (and inflated) months ago.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.