Today’s Budget Update (the Mid-Year Economic and Fiscal Outlook) shows Australia’s Budget position has improved by $9.3 billion over 4 years, compared to the forecast in May’s Budget.

Over six years, Labor racked up six deficits and put Australia on track for $1 trillion in debt.

We have brought Labor’s reckless spending under control and are on track for budget balance in 2020-21.

Today’s figures show that from this year, the Government will no longer need to borrow for recurrent expenditure (that is, regular expenditure like health, education and welfare – as opposed to assets like road and rail infrastructure).

This would be the first time since 2008 that the Australian Government must no longer borrow to meet its recurrent expenditure.

This is a function of the Turnbull Government acting to get expenditure under control.

Today’s positive Budget news, follows last week’s good news on jobs. So far this year, 360,000 more jobs have been created – at a rate of over 1,000 new jobs per day.

The Coalition Government remains determined to fix the Budget and deliver a stronger economy, with more and better paying jobs.

For more information about today’s Budget update, click here.

Regards,

Scott Morrison
Treasurer

Thanks for thew update Scott   [smiley=thumbup.gif]

Gosh this will throw the Welfare Dependent Lefties into a screaming heap!!!!!

Thank you China!!!

:) :) :)

Treasurer Scott Morrison and Finance Minister Mathias Cormann have released the Mid-Year Economic and Fiscal Outlook (MYEFO) in Canberra, showing wage growth has been downgraded across the next four years, along with downgrades in growth of the nation's GDP.

Annual retail sales till sept under 2% , first time EVER
Household saving 10% sept 2013 3.6% now
GDP 1567 billion US sept 2013 1205 billion US now
Interest rates still at record lows
Debt 217 billion 2013 600 billion now

Superior economic managers

https://youtu.be/r5X8qDDMC-o

juliar wrote on Dec 19^th, 2017 at 11:17am:

Gosh this will throw the Welfare Dependent Lefties into a screaming heap!!!!!

not even work for the dole....omg!

"has improved by $9.3 billion over 4 years, compared to the forecast in May’s Budget."

http://msnsmileys.net/R/ROFL/rofl-111.gif

The old LW is doing his deny thing and making up fibs as he goes. But then who EVER believes ANYTHING that oozes out of a Welfare Dependent Lefty ?

juliar wrote on Dec 19^th, 2017 at 5:53pm:

The old LW is doing his deny thing and making up fibs as he goes. But then who EVER believes ANYTHING that oozes out of a Welfare Dependent Lefty ?

no one cept other Welfare Dependent Lefty's  :-/

A good whack of cold hard devastating facts

Proudly brought to you by leftwinger

Debt is still increasing:

Net debt is expected to stabilise over the forward estimates, peaking at 19.2 per cent of GDP in 2018 19,




What a surprise another Liberal government taking the credit for a world wide trend.


Quote:

Global growth has strengthened significantly over the course of the year. While the strengthening in growth was anticipated at Budget, it has accelerated by more than forecast.

Quote:

•      Major bank levy ($5.5 billion over the forward estimates); and •      Pause in FTB A & B Payment indexation rates for two years ($1.9 billion over the forward estimates).

Here is how the improvement is done.

Remember all those genuinely disabled people who cannot qualify as to be disabled ??? They are paying for it.

remember the NDIS changes ?

Remember the cuts to health and education ?

Increasing tax and removing benefits ?

All short term one off's nothing here to fix anything just deferring the problems.

Dnarever wrote on Dec 19^th, 2017 at 7:42pm:

Quote: •      Major bank levy ($5.5 billion over the forward estimates); and •      Pause in FTB A & B Payment indexation rates for two years ($1.9 billion over the forward estimates). Here is how the improvement is done. Remember all those genuinely disabled people who cannot qualify as to be disabled ??? They are paying for it. remember the NDIS changes ? Remember the cuts to health and education ? Increasing tax and removing benefits ? All short term one off's nothing here to fix anything just deferring the problems.

---

Whos Andrew?

President Elect, The Mechanic wrote on Dec 19^th, 2017 at 7:56pm:

Dnarever wrote on Dec 19th, 2017 at 7:42pm: Quote: •      Major bank levy ($5.5 billion over the forward estimates); and •      Pause in FTB A & B Payment indexation rates for two years ($1.9 billion over the forward estimates). Here is how the improvement is done. Remember all those genuinely disabled people who cannot qualify as to be disabled ??? They are paying for it. remember the NDIS changes ? Remember the cuts to health and education ? Increasing tax and removing benefits ? All short term one off's nothing here to fix anything just deferring the problems.

JOHN Grayson doesn’t want to waste the last two years of his life filling out forms at Centrelink.
The 33-year-old’s worst fears were confirmed on Christmas Eve when he received news that he had a rare stage 3 malignant brain tumour.

Prior to his initial diagnosis in November, finding a full-time engineering job had been at the top of his priority list.
His priorities have changed dramatically since, but it seems as far as federal government bureaucrats are concerned he still needs to look for work if he wants to receive the Newstart allowance.
‘‘As I am trying to come to terms with all of this, one thing is driving me incredibly crazy – the strict requirements of the Disability Support Pension,’’ Mr Grayson said.
‘‘[Newstart appointments] are very time costly, which I have so little of. I’d much rather be visiting friends and relatives before I die,’’ he said.
‘‘The idea of a terminally ill person having to go out and look for a job feels like a kick in the groin.’’
In addition to documenting his search for work, he is required to visit employment agencies at Newcastle and Charlestown each week.
Because he is still relatively physically healthy and hasn’t begun radiotherapy treatment, he is not classified as disabled and is ineligible for the Disability Support Pension (DSP).
He was told last week the type of cancer he has (an extremely rare malignant ganglioglioma tumour) means he doesn’t qualify to be fast-tracked onto the pension via an amendment designed for people who have been diagnosed with a terminal illness.
Although still capable of working, his mental health has deteriorated considerably.
Ironically he now stands a better chance of qualifying for the disability support pension if he is diagnosed with depression rather than cancer.
‘‘I was at Centrelink with my mother and they said because you are [physically] healthy you don’t qualify for the DSP via cancer, you are going to have to look at mental health.
Mr Grayson said he was supportive of the government’s attempts to prioritise welfare payments to those most in need, however, he believes unemployed people with terminal illnesses deserve special consideration.
‘‘I hope Scott Morrison in his new capacity [as social services minister] can perhaps rework some empathy into the DSP requirements for the terminally ill,’’ Mr Grayson said.
The federal government did not respond to the Newcastle Herald’s questions about Mr Grayson’s case.
Cancer Council Hunter regional manager Shayne Connell said the organisation was lobbying to have the Disability Support Pension eligibility requirements changed.
‘‘It a crazy situation; there is a desperate need to build in some flexibility for people with terminal illnesses,’’ Mr Connell said.
‘‘The last thing someone with a terminal needs to be doing is running around looking for a job.’’  :-/ :-/

Its time wrote on Dec 19^th, 2017 at 8:11pm:

President Elect, The Mechanic wrote on Dec 19th, 2017 at 7:56pm: Dnarever wrote on Dec 19th, 2017 at 7:42pm: Quote: •      Major bank levy ($5.5 billion over the forward estimates); and •      Pause in FTB A & B Payment indexation rates for two years ($1.9 billion over the forward estimates). Here is how the improvement is done. Remember all those genuinely disabled people who cannot qualify as to be disabled ??? They are paying for it. remember the NDIS changes ? Remember the cuts to health and education ? Increasing tax and removing benefits ? All short term one off's nothing here to fix anything just deferring the problems. JOHN Grayson doesn’t want to waste the last two years of his life filling out forms at Centrelink. The 33-year-old’s worst fears were confirmed on Christmas Eve when he received news that he had a rare stage 3 malignant brain tumour. Prior to his initial diagnosis in November, finding a full-time engineering job had been at the top of his priority list. His priorities have changed dramatically since, but it seems as far as federal government bureaucrats are concerned he still needs to look for work if he wants to receive the Newstart allowance. ‘‘As I am trying to come to terms with all of this, one thing is driving me incredibly crazy – the strict requirements of the Disability Support Pension,’’ Mr Grayson said. ‘‘[Newstart appointments] are very time costly, which I have so little of. I’d much rather be visiting friends and relatives before I die,’’ he said. ‘‘The idea of a terminally ill person having to go out and look for a job feels like a kick in the groin.’’ In addition to documenting his search for work, he is required to visit employment agencies at Newcastle and Charlestown each week. Because he is still relatively physically healthy and hasn’t begun radiotherapy treatment, he is not classified as disabled and is ineligible for the Disability Support Pension (DSP). He was told last week the type of cancer he has (an extremely rare malignant ganglioglioma tumour) means he doesn’t qualify to be fast-tracked onto the pension via an amendment designed for people who have been diagnosed with a terminal illness. Although still capable of working, his mental health has deteriorated considerably. Ironically he now stands a better chance of qualifying for the disability support pension if he is diagnosed with depression rather than cancer. ‘‘I was at Centrelink with my mother and they said because you are [physically] healthy you don’t qualify for the DSP via cancer, you are going to have to look at mental health. Mr Grayson said he was supportive of the government’s attempts to prioritise welfare payments to those most in need, however, he believes unemployed people with terminal illnesses deserve special consideration. ‘‘I hope Scott Morrison in his new capacity [as social services minister] can perhaps rework some empathy into the DSP requirements for the terminally ill,’’ Mr Grayson said. The federal government did not respond to the Newcastle Herald’s questions about Mr Grayson’s case. Cancer Council Hunter regional manager Shayne Connell said the organisation was lobbying to have the Disability Support Pension eligibility requirements changed. ‘‘It a crazy situation; there is a desperate need to build in some flexibility for people with terminal illnesses,’’ Mr Connell said. ‘‘The last thing someone with a terminal needs to be doing is running around looking for a job.’’  :-/ :-/

Nobody could ever claim that those Liberals are not dirty grubs one and all.

oh dear wrote on Dec 19^th, 2017 at 7:58pm:

Whos Andrew?

Andrew is a Great Man...

a Great Great Man who the Liberal Government write to now and again  :)

President Elect, The Mechanic wrote on Dec 20^th, 2017 at 6:50am:

oh dear wrote on Dec 19th, 2017 at 7:58pm: Whos Andrew? Andrew is a Great Man... a Great Great Man who the Liberal Government write to now and again  :)

:-/

The fantasies being dreamed up by the disillusioned deflated Lefties defy description.

Accept it Lefties, your HERO Bull S. is a dead man walking who has done a corrupt deal with the unions to stop them chucking him onto the scrap heap.

and while Bull S. stays there as the Liability of Labor then Mal's victory at the election is assured.