this was always expected given the S3TCs and adding in the falling prices of coal and IO.
the number of deficits the Libs had barely rated a mention despite them not having a reason for deficits.
The Albanese government may have underestimated state and federal government spending by $70 billion, and consequently misjudged the inflationary effects of wage rises, subsidies and public sector employment, as well as the scale of the Reserve Bank’s task in bringing inflation under control.
Treasurer Jim Chalmers has been forced to defend strong growth in state and federal spending, which the governmenthas labelled vitalto keeping the economy afloat. However, some experts say it is pushing out the timeline for the interest rate cuts needed to bring relief to struggling households.
it seems from this they confected a bigger blow out by adding State Govt expenditure onto the fed budget. it reads like they are trying on an attack. not a good look from the Fin.
