After a week of 'down-ramping' articles by befuddled "'analysts'", we seem to be getting back to facing the facts.
"AN UNEXPECTED surge in the global iron ore price has put the budget surplus back within reach.
The iron ore price had climbed from a September low of $US86 a tonne to $US135 a tonne when the Treasurer, Wayne Swan, abandoned his commitment to a budget surplus late last month. It has since risen to $US158 a tonne.
Forecasters from Deutsche Bank are expecting the price to hit $US170 a tonne within weeks.
If sustained, the near doubling of the iron ore price would boost company tax revenues and lead to a surge in mining tax payments, putting government revenue back to near what was forecast in the budget."
Read more: http://www.brisbanetimes.com.au/business/rising-iron-ore-prices-could-put-budget-surplus-back-on-track-20130113-2cnno.html#ixzz2Hrb8NZPl
back to reality!
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