The Albanese Labor will be delivering Australia’s first budget surplus in 15 years next week, Sky News Australia can reveal.
Jim Chalmers is expected to hand down the first budget surplus in 15 years on Tuesday night, which will mark the first time Labor has managed to get the budget in the black since 1989.
The government has benefitted from a revenue windfall which could deliver a $101 billion reduction in future budget deficits. While Australia’s structural challenges in areas like the NDIS and defence could see ongoing deficits return next financial year, the expected 2022/2023 one-off surplus will be a temporary win for the Albanese government.
Sky News Political Editor Andrew Clennell quizzed Finance Minister Katy Gallagher on the budget situation in an interview set to air at 2pm.
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