Jim Chalmers’ first budget to reveal $42bn improvement to bottom line across forward estimates but conditions will deteriorate after two years
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Soaring commodity prices and a strong labour market will deliver a $42bn boost to the budget bottom line over the next four years, with the deficit more than halving this financial year.
However, the improvement – to be revealed in Jim Chalmers’ first budget on Tuesday night – will be short-lived, with worse-than-expected deficits by the end of the forward estimates as a result of growing spending pressures.
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