Final budget result delivers $15.8 billion 'back-to-back' surplus due to lower spending 8-)

It's only an estimate of what may occur - what was the actual outcome of the first back?  A government can budget for surplus time after time - but did they actually achieve it?

Good job Albo


I bet this will get the retarded right frothing at the mouth ;D ;D

As Jacqui Lambie said:

"No-one gives a stuff about a budget surplus."  ;D

Captain Nemo wrote on Sep 30^th, 2024 at 9:39am:

As Jacqui Lambie said: "No-one gives a stuff about a budget surplus."  ;D

As if ....  you only don't 'give a stuff' when you can't use it against labor ... spent years crying about a lack of surplus' under rudd and gillard, but once Abbott came in, it was no longer important ....

both you and lambie are hypocrites

Our debt is $1.2 trillion so it will take 1200/15.8 =  76 years to pay off our debt -
if we keep having surpluses like that.

Australian debt clock:

http://australiandebtclock.com.au/

Captain Nemo wrote on Sep 30^th, 2024 at 9:39am:

As Jacqui Lambie said: "No-one gives a stuff about a budget surplus."  ;D

Amazing turn around - They all creamed their pants at each and every Howard costello surplus and that was in a time where it was impossible to not deliver a surplus. All the Howard surpluses were wasted and the manner in which they were mismanaged led to ultimate economic disaster.

Grappler Truth Teller Feller wrote on Sep 30^th, 2024 at 12:41am:

It's only an estimate of what may occur - what was the actual outcome of the first back?  A government can budget for surplus time after time - but did they actually achieve it?

It is the final budget outcome the projected budget outcome was $6.4 billion less than what was delivered. The second such surplus like this is the first time this has happened in over 40 years.

The Best result since 1984 when Bob Hawke was PM.

Once again the best economic results = Labor leaders.

Yes - but there are Surpluses and surpluses - core and non-core surpluses.

Liberals = spend like drunken sailors.

Labor = sensible spenders spend like sensible accountants.

Voters only remember the last Budget results.  Tsk, tsk, tsk...  ::) ::)

They know they're coming up to a VERY hard election because of The Voice and the Voice By Stealth...  you know what - maybe Albo feels all good and curly inside from 'keeping his promise' to the Aboriginal activist class over sneaking it in despite the overwhelming NO vote - but his promise to abide by the will of the people in this here democracy is FAR more important than that promise.

If he and his Party can't work that out they NEVER deserve to be in control of this country.

Grappler Truth Teller Feller wrote on Sep 30^th, 2024 at 5:32pm:

They know they're coming up to a VERY hard election because of The Voice and the Voice By Stealth...  you know what - maybe Albo feels all good and curly inside from 'keeping his promise' to the Aboriginal activist class over sneaking it in despite the overwhelming NO vote - but his promise to abide by the will of the people in this here democracy is FAR more important than that promise. If he and his Party can't work that out they NEVER deserve to be in control of this country.

Quote:

because of The Voice

Suspect this is the last thing on the mind of the majority.

Brian Ross wrote on Sep 30^th, 2024 at 4:16pm:

Labor = sensible spenders spend like sensible accountants.

So tell us about the subsidies for renewables

Brian Ross wrote on Sep 30^th, 2024 at 4:16pm:

Liberals = spend like drunken sailors. Labor = sensible spenders spend like sensible accountants. Voters only remember the last Budget results.  Tsk, tsk, tsk...  ::) ::)

Both parties - reckless spenders -

big promises can only ever be paid with printed money causing inflation.

Bobby. wrote on Sep 30^th, 2024 at 9:29pm:

Brian Ross wrote on Sep 30th, 2024 at 4:16pm: Liberals = spend like drunken sailors. Labor = sensible spenders spend like sensible accountants. Voters only remember the last Budget results.  Tsk, tsk, tsk...  ::) ::) Both parties - reckless spenders - big promises can only ever be paid with printed money causing inflation.

Labor promises surpluses and delivers on their promises,  Liberals spend like drunken sailors.  Tsk, tsk, tsk...  ::) ::)

Brian Ross wrote on Sep 30^th, 2024 at 4:16pm:

Labor = sensible spenders spend like sensible accountants. Voters only remember the last Budget results.  Tsk, tsk, tsk...  ::) ::)

AnAl wasted $450 million on his voice

AnAl gave $60 million to PNG for a Rugby team

AnAl has given Palestinians over $92.5 million since Hamas started war on Oct 7th

You can't call that sensible spending

Baronvonrort wrote on Sep 30^th, 2024 at 11:04pm:

Brian Ross wrote on Sep 30th, 2024 at 4:16pm: Labor = sensible spenders spend like sensible accountants. Voters only remember the last Budget results.  Tsk, tsk, tsk...  ::) ::) AnAl wasted $450 million on his voice AnAl gave $60 million to PNG for a Rugby team AnAl has given Palestinians over $92.5 million since Hamas started war on Oct 7th You can't call that sensible spending

Yet still made a $15 Billion surplus ? That is more than every Liberal PM combined in over 20 years.

Figures lie, liars figure.

lee wrote on Oct 1^st, 2024 at 11:29am:

Figures lie, liars figure.

And Lee waffles and misleads.

It's not bonus money - it's a forward estimate that will never eventuate.

Brian Ross wrote on Sep 29^th, 2024 at 11:01pm:

Final budget result delivers $15.8 billion 'back-to-back' surplus due to lower spending 8-)

Yes - "a surplus" due to lower spending (not higher taxes); and yet, or rather , THAT'S WHY  Albo's popularity is falling like a stone, as the cost of living crisis hurts workers. 

Poor Graps is confused as usual:

(from the link)

" Its final budget position for the 2023 financial was $15.8 billion, a $6.4 billion improvement on its May forecast."

That's the actual final outcome for the 2023 financial year, not the forecast made in May before the end of the financial year.   

Bobby. wrote on Sep 30^th, 2024 at 1:44pm:

Our debt is $1.2 trillion so it will take 1200/15.8 =  76 years to pay off our debt - if we keep having surpluses like that. Australian debt clock:

<links stripped to comply with forum rules>

That's not accurate. Inflation (which happens any time there isn't a recession) increase tax take in nominal dollars. The outstanding debt is in nominal dollars.

Moderate inflation is actually a good thing. No reserve bank anywhere attempts to achieve zero inflation, because it's not desirable.

Australia's debt is 35% of GDP (2023) which is much more manageable than America's 120%.

We should be wary of importing American talking points.

So Labor are better economic managers AND we have far more to show for what they spend than we did over the last decade.

Of course, this will make the rusted ons lose their mind.

The myth of the Coalition being the better economic managers may have finally been broken.

Brian Ross wrote on Sep 30^th, 2024 at 10:50pm:

Bobby. wrote on Sep 30th, 2024 at 9:29pm: Brian Ross wrote on Sep 30th, 2024 at 4:16pm: Liberals = spend like drunken sailors. Labor = sensible spenders spend like sensible accountants. Voters only remember the last Budget results.  Tsk, tsk, tsk...  ::) ::) Both parties - reckless spenders - big promises can only ever be paid with printed money causing inflation. Labor promises surpluses and delivers on their promises,  Liberals spend like drunken sailors.  Tsk, tsk, tsk...  ::) ::)

The result?  Labor's on the nose with an electorate which is misled by mainstream economists  (hence the nonsense about the desirability of balanced government budgets) , and Dutton may well become PM soon, making Albo a one-termer. 

Deplorable. 

Mainstream economists are the reason why Trump gets a look-in, in the US; Trump doesn't worry about deficits, unlike bobby and most here who are  deluded by the mainstream debt and deficit myth.

SadKangaroo wrote on Oct 3^rd, 2024 at 1:27pm:

So Labor are better economic managers AND we have far more to show for what they spend than we did over the last decade.

Just as well you only go back a decade. ;)

lee wrote on Oct 3^rd, 2024 at 1:55pm:

SadKangaroo wrote on Oct 3rd, 2024 at 1:27pm: So Labor are better economic managers AND we have far more to show for what they spend than we did over the last decade. Just as well you only go back a decade. ;)

Oz's variable  terms of trade complicate the picture re good management; iron and coal were/are the source of Oz's prosperity.

But now we have a per capita recession - not very nice for some.   

"The Australian economy has halted at an aggregate level, as unbudgeted public demand increases."

https://kpmg.com/au/en/home/insights/2024/09/economic-outlook-australia-q3-2024.html