Summarised by Centrist
Economic commentary from Westpac discusses Treasury’s Pre-Election Economic and Fiscal Update.
It says Treasury’s economic forecasts are optimistic, and disagrees with its assumptions.
It concludes the budget deficit, and issuance of Government bonds, will be higher than projected in the Budget, and reaching the target 2026-2027 operating surplus may be challenging.
Whoever is in power after the 14 October election, the Government will face tough fiscal choices.
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