Strong jobs market and higher commodities prices fuel improved budget surplus

Despite surplus being revised up to $22.1bn, ‘structural pressures are intensifying rather than easing’, Jim Chalmers saysAustralia’s first surplus in 15 years has been revised up to $22.1bn, in a major boon for the Albanese government’s first full-year budget.The final budget outcome for 2022-23, to be released by the treasurer, Jim Chalmers, on Friday, shows a surplus of 0.9% of GDP. Continue reading...