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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.”

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