Budget deficit for 2021-22 will show improvement of almost $50 billion: Chalmers English Headline

Treasurer Jim Chalmers says the budget deficit for 2021-2022 will show an improvement of almost $50 billion from what was expected.

“Just over half of that, around $28 billion, is from higher than expected revenues,” Dr Chalmers said during a media conference on Tuesday.

“The rest, around $20 billion, is from lower than budgeted payments.

“And what we know from the final budget outcome is that this substantial improvement is welcome, but the bulk of it is driven by temporary factors.”

English Headline

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