The budget is back in the black with the Morrison Government delivering the first budget surplus in more than a decade.
\nThis year will see a surplus of $7.1 billion. A $55.5 billion turnaround from the deficit we inherited six years ago.
\nIn 2020-21, a surplus of $11.0 billion.
\nIn 2021-22, a surplus of $17.8 billion.
\nIn 2022-23, a surplus of $9.2 billion.
\nA total of $45 billion of surpluses over the next four years.
\nSurpluses will continue to build toward one per cent of GDP within a decade.
\nThrough disciplined budget management Australia is again well-positioned to respond to challenges both here and abroad.
\nA strong economy means we can deliver lower taxes, guarantee essential services, invest in congestion-busting infrastructure and keep Australians safe and secure.
\nAnd with the budget moving into surplus, it means the Government is strengthening its commitment to pay down debt.
\nThe Government is reducing debt, not through higher taxes, but by good budget management and growing the economy.
\nBy paying down debt, the Government will put the nation\u2019s finances on a more sustainable footing and reduce the burden on future generations. Net debt is projected to be eliminated by 2029-30.
\nReducing debt will ensure that the next generation does not pick up the tab for the last.
\nIn delivering a surplus budget, the Government\u2019s economic plan is giving Australians more opportunities, and creating a stronger economy.<\/p>\n","protected":false},"excerpt":{"rendered":"
The budget is back in the black with the Morrison Government delivering the first budget surplus in more than a decade. This year will see a surplus of $7.1 billion. A $55.5 billion turnaround from the deficit we inherited six years ago. In 2020-21, a surplus of $11.0 billion. In 2021-22, a surplus of $17.8 … Continue reading “Budget Returns To Surplus”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2123","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/2123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=2123"}],"version-history":[{"count":0,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/2123\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=2123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=2123"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=2123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}