Government’s budget success is down to ‘luck’, says Labor
Labor says the government has experienced “luck of a strong global economy” as it handed down the mid-year economic update on Monday.
The Mid-Year Economic and Fiscal Outlook (MYEFO) shows the government is on track to deliver a $4.1-billion surplus in the next financial year.
The projected surplus would be the first in over a decade and is larger than was anticipated in the May Budget.
Treasurer Josh Frydenberg has told Ross Greenwood the positive results are due to “disciplined decision-making”.
But Shadow Assistant Treasurer Dr Andrew Leigh tells Ross there’s been luck involved.
“Global growth is going well,” he says.
“The government is enjoying the luck of a strong global economy. But they’re not translating that into tackling the big challenges Australia faces.
“Wage growth basically stalled in 2012 and the government hasn’t gotten Australians a real pay rise the whole time they’ve been in office.
“Inequality is at a 75-year high, home ownership at a 60-year low.”
Click PLAY below for the full interview