Labor's 'surplus' Budget is just smoke and mirrors - and Aussies should be worried... PETER VAN ONSELEN reveals the damning details that prove Australia is on the road to financial ruin
10 months, 1 week ago

Labor's 'surplus' Budget is just smoke and mirrors - and Aussies should be worried... PETER VAN ONSELEN reveals the damning details that prove Australia is on the road to financial ruin

Daily Mail  

This year's Budget highlighted just how fiscally doomed we are as a nation, even if the government attempted to hide the fact in plain sight. It wasn't the surplus for the coming financial year, the year all the new spending and tax cuts are slated to start. Treasurer Jim Chalmers announced a surplus for the financial year that is ending - when he should have focused on the four years of deficits set to begin in just six weeks' time Even just paying off the interest bill on that quantum of debt is hard. The substance of Treasurer Jim Chalmers speech focused on new spending and tax cuts that happen next financial year, spruiking income tax cuts as the 'foundation stone' of the Budget. Unless the major political parties find a way to work together to repair the Budget's financial underpinnings, future generations are going to be unfairly gifted massive debt with difficult-to-manage annual interest payments.

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History of this topic

$100b blow to mining exports to knock billions out of federal budget
3 months, 1 week ago

$100b blow to mining exports to knock billions out of federal budget

ABC  

The government is setting expectations its run of budget surpluses is coming to an end, forecasting that a major hit to mining exports in the years ahead will undermine Australia's federal budget by billions of dollars. Wednesday's update to the federal budget will reveal a $100 billion downgrade in mining exports by Treasury over the four years to 2027-28. Decade …

Labor insiders are despairing: Albo is heading for election failure. And they say he must silence a VERY senior minister if he has any chance of beating Dutton: PETER VAN ONSELEN
3 months, 1 week ago

Labor insiders are despairing: Albo is heading for election failure. And they say he must silence a VERY senior minister if he has any chance of beating Dutton: PETER VAN ONSELEN

Daily Mail  

There is growing despondency in Labor circles about the government's performance, especially the poor performance of the prime minister. Labor needs to point out that it has put in place new laws protecting workers' pay, delivered two surpluses in its first two budgets, significantly lowered inflation without cutting payments Australians rely on, and has delivered fairer income tax cuts than …

Final budget result delivers $15.8 billion 'back-to-back' surplus due to lower spending
5 months, 3 weeks ago

Final budget result delivers $15.8 billion 'back-to-back' surplus due to lower spending

ABC  

A drop in spending has netted the federal government a $15.8 billion surplus for the most recent financial year, despite the government's tax take also falling in that time. However, internal analysis prepared for the Reserve Bank in June determined the government's budget for this financial year was expected to be "slightly expansionary", despite inflation still sitting above the RBA's …

Spare us the talk about a wages explosion. There's nothing wrong with lifting Australia's lowest wages in line with inflation
9 months, 3 weeks ago

Spare us the talk about a wages explosion. There's nothing wrong with lifting Australia's lowest wages in line with inflation

ABC  

What is it with the Coalition and wages? Now, two years on, after yet another Fair Work Commission decision that lifted award wages in line with inflation, the Coalition has returned to the fray. On Monday, shadow finance minister Jane Hume asked Treasury Secretary Steven Kennedy at a Senate hearing how he could support a wage increase linked to inflation …

Budget 2024: Jim Chalmers to deliver $9.3billion surplus... but there's bad news on the horizon
10 months, 2 weeks ago

Budget 2024: Jim Chalmers to deliver $9.3billion surplus... but there's bad news on the horizon

Daily Mail  

Treasurer Jim Chalmers will deliver back-to-back budgets in the black, with fresh forecasts of the nation's finances set to show a surplus of $9.3billion for the current fiscal year. Treasurer Jim Chalmers will deliver back-to-back budgets in the black, with fresh forecasts of the nation's finances set to show a surplus of $9.3bn for the current fiscal year Heralding the …

Budget to confirm a surplus this year, but bigger deficits for the next three years
10 months, 2 weeks ago

Budget to confirm a surplus this year, but bigger deficits for the next three years

ABC  

In short: The federal budget will reveal a $9.3 billion surplus for the 2023-24 financial year, which ends next month. The federal budget will reveal a $9.3 billion surplus for the 2023-24 financial year, which ends next month. But the next three financial years will each have higher deficits than the government had expected as recently as December, owing to …

Here are seven charts to make sense of the Victorian state budget
10 months, 2 weeks ago

Here are seven charts to make sense of the Victorian state budget

ABC  

The Victorian government handed down its budget for 2024-25 yesterday. When analysing these figures together, we can see Victoria's debt will reach 24.4 per cent of its economy in the next financial year. Goal to reach budget surplus by June 2026 The Victorian government not only predicts a reduction in the debt ratio — it's forecasting a budget surplus. The …

Australia PM to modify proposed tax cuts, stoking fears of inflation
1 year, 2 months ago

Australia PM to modify proposed tax cuts, stoking fears of inflation

The Hindu  

Australia Prime Minister Anthony Albanese said on Wednesday, January 25, 2024, that he would consult lawmakers to modify proposed tax cuts for higher earners, potentially breaking an election pledge in a decision some economists worry could stoke inflation. Shane Oliver, chief economist at AMP, said the proposed changes benefit low — and middle-income earners, who tend to spend rather than …

Dramatic moment ABC News Breakfast's Lisa Millar brutally cuts off Treasurer Jim Chalmers over Anthony Albanese's Stage Three tax cut broken promise
1 year, 2 months ago

Dramatic moment ABC News Breakfast's Lisa Millar brutally cuts off Treasurer Jim Chalmers over Anthony Albanese's Stage Three tax cut broken promise

Daily Mail  

ABC News Breakfast host Lisa Millar has grilled Treasurer Jim Chalmers over Anthony Albanese's broken election promise on tax cuts - hammering him with the PM's own claim that his 'word is his bond'. Mr Albanese will use a National Press Club address today to outline his case for overhauling the Stage Three tax cuts, which he had repeatedly insisted …

Why Jim Chalmers can't stop smiling about his Budget update because of an 'invisible' cost YOU are getting stung with - and it's not interest rates
1 year, 3 months ago

Why Jim Chalmers can't stop smiling about his Budget update because of an 'invisible' cost YOU are getting stung with - and it's not interest rates

Daily Mail  

Labor is close to delivering its first consecutive Budget surpluses since the late 1980s - thanks to the axing of tax relief during a cost of living crisis. A second consecutive surplus would make him the first Labor treasurer since Paul Keating in the late 1980s to achieve this feat A second consecutive surplus is a feat Labor hasn't achieved …

We could make most Australians richer and still save billions — it's not too late to fix the stage 3 tax cuts
1 year, 4 months ago

We could make most Australians richer and still save billions — it's not too late to fix the stage 3 tax cuts

ABC  

The Albanese government is about to have to make a really important decision. That's right, a typical full-time worker will get relief of $1,000 from the stage 3 tax cuts in return for losing the axed tax offset of $1,500. What if it kept the tax cuts, but reoriented them to Australians who actually needed them — to the more …

Jim Chalmers's budget surplus was a surprise so where has the money come from?
1 year, 10 months ago

Jim Chalmers's budget surplus was a surprise so where has the money come from?

ABC  

It has been billed as the turnaround of the century. Suddenly, that's magically transformed into a $4.2 billion surplus for this financial year, the first time we've seen federal budget black ink since 2008, when Treasurer Jim Chalmers was then-treasurer Wayne Swan's brains trust. If you can believe the forecasts — and let's face it, just a few months back …

Australian govt pledges $10bn to ease cost of living pressures
1 year, 10 months ago

Australian govt pledges $10bn to ease cost of living pressures

Al Jazeera  

Treasurer Jim Chalmers insists measures will not add to the country’s already high inflation. Australia’s centre-left Labor government has pledged to include 14.6 billion Australian dollars in the federal budget for cost-of-living relief for families and businesses, promising it will not stoke inflation. The plan announced on Monday is designed to directly ease price pressures and inflation, the federal government …

Australia's budget is a 'hell of a mess'. The government is not collecting enough, and you are paying too much
1 year, 10 months ago

Australia's budget is a 'hell of a mess'. The government is not collecting enough, and you are paying too much

ABC  

No-one likes paying tax. He argues successive governments have relied too much on "bracket creep", which is basically average Australian wages climbing and pushing more and more people into higher tax brackets, and increasing revenue. The Grattan Institute's Kate Griffiths is among those suggesting changes to the "petroleum resources rent tax", arguing a simple tweak to how gas is priced …

Why are we having a fourth budget in two years?
2 years, 5 months ago

Why are we having a fourth budget in two years?

ABC  

You'd be forgiven for thinking that Australia has had more budgets in the last few years than I've had hot dinners. That's what this week's budget will be, with Treasurer Jim Chalmers warning the country's deteriorating fiscal position means Labor cannot afford extra spending beyond its election commitments. No treasurer wants to declare "we need to collect more tax", but …

Australia needs an honest conversation about tax and budgets – and Jim Chalmers is ready to talk
2 years, 5 months ago

Australia needs an honest conversation about tax and budgets – and Jim Chalmers is ready to talk

ABC  

Jim Chalmers is a wily operator. COVID changed everything – except the tax cap Just about every fairly foreseeable crisis couldn't be responded to, if the assumptions in the 2019 budget were to be believed. A separate "tax cap" set out in the budget said the government would never collect more than an arbitrarily chosen 23.9 per cent of GDP. …

The federal government's budget will reveal its plan for the country, but will the plan work?
3 years ago

The federal government's budget will reveal its plan for the country, but will the plan work?

ABC  

The federal government will release its budget on Tuesday. Treasurer Scott Morrison, May 3, 2016 : "This budget is an economic plan. Treasurer Josh Frydenberg, April 2, 2019: "This budget builds on our plan for a stronger economy." Australia's economy was in poor health well before COVID-19 hit our shores, but could a "Job Guarantee" program help Australians out of …

Federal budget 2022: Aussies miss out on early tax cuts but fuel duty cut considered as petrol soars
3 years ago

Federal budget 2022: Aussies miss out on early tax cuts but fuel duty cut considered as petrol soars

Daily Mail  

Australian full-time workers will miss out an early income tax cut in the federal Budget later this month - as the government spends more tax funds on cost of living payments to help people cope with soaring prices. Stage one increased the upper threshold for the 32.5 per cent personal income tax bracket from $87,000 to $90,000. Stage two, due …

How Australia's budget is designed to win votes ahead of federal election
3 years, 10 months ago

How Australia's budget is designed to win votes ahead of federal election

Daily Mail  

Barista Szilvia at work at Madisons cafe on the Gold Coast When the coronavirus pandemic hit Australia in March 2020, about 900,000 Aussies lost their jobs as restaurants, pubs, and shops were shut down to stop the deadly disease from rapidly spreading throughout the nation. The October budget backed up these large-scale programs by bringing forward permanent tax cuts for …

'Australia is coming back': Read Treasurer Josh Frydenberg's full Federal Budget 2021 speech
3 years, 10 months ago

'Australia is coming back': Read Treasurer Josh Frydenberg's full Federal Budget 2021 speech

Daily Mail  

Mr Speaker, I move that this Bill now be read a second time. 'In this Budget, a further $1.9 billion is allocated for the roll out of vaccines' Securing the recovery and creating jobs Mr. Speaker, our first priority is to keep Australians safe from COVID. 'In this Budget, we are making a further and targeted $1.7 billion investment in …

WA's built a big budget surplus amid the COVID-19 pandemic, now the question is how to spend it
4 years, 3 months ago

WA's built a big budget surplus amid the COVID-19 pandemic, now the question is how to spend it

ABC  

In the coming days Western Australia will predict a surplus of $2.2 billion in 2020-21, almost double what was anticipated when the state budget was handed down just three months ago. End public sector wage cap, doctors say Western Australia's medical community has called for the surplus to be used to help end the $1,000 cap on public sector wage …

WA Budget in surplus as economy continues to reap mining riches despite pandemic
4 years, 5 months ago

WA Budget in surplus as economy continues to reap mining riches despite pandemic

ABC  

Bumper iron ore royalties have helped Western Australia forecast a budget surplus of $1.2 billion this financial year, despite the economic impacts of the COVID-19 pandemic, with Treasury anticipating the state's hard border will be down sometime between April and June next year. Key points: WA is forecasting budget surpluses for the next four years The centrepiece of the Budget …

We asked what Australians thought of this year's Federal Budget. Most people thought there were some big gaps
4 years, 5 months ago

We asked what Australians thought of this year's Federal Budget. Most people thought there were some big gaps

ABC  

After coronavirus caused months of delays, the 2020 Federal Budget has finally been released. - Ellie L Some thought a focus on young people would be beneficial "It's super encouraging to see the additional money towards mental health and low income housing. "This budget gives mere lip-service to young people, while condemning us to climate change, inevitable job losses and …

Australia plans massive pandemic budget, record deficit
4 years, 5 months ago

Australia plans massive pandemic budget, record deficit

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Australian government on Tuesday …

Federal Budget 2020 reveals Australia headed to record debt of almost $1 trillion
4 years, 5 months ago

Federal Budget 2020 reveals Australia headed to record debt of almost $1 trillion

ABC  

Billions of dollars in fast-tracked tax cuts and younger worker wage subsidies underline the Federal Government's budget recovery pitch, as Australia's recession sends debt and deficits to record levels. Key points: Debt and deficits are set to hit record highs as coronavirus savages the economy Debt and deficits are set to hit record highs as coronavirus savages the economy Businesses …

Federal Budget will bring forward tax cuts as part of coronavirus response
4 years, 5 months ago

Federal Budget will bring forward tax cuts as part of coronavirus response

ABC  

Millions of Australians will have more money in their pockets within weeks, as the Federal Government plans to bring forward and supercharge tax cuts in Tuesday's Federal Budget. Key points: The Budget will bring forward income tax cuts scheduled for 2022 The Budget will bring forward income tax cuts scheduled for 2022 The plan will cut taxes for anyone earning …

Budget deficits may sound like a bad thing, but they can help keep a struggling country afloat
4 years, 7 months ago

Budget deficits may sound like a bad thing, but they can help keep a struggling country afloat

ABC  

It's easier to understand something when you've personally experienced it. Howard years marked by high tax revenue The Howard Government recorded those 10 budget surpluses because it repeatedly collected more taxes from the community than it was spending on services and programs. The tax-to-GDP ratio in the Howard Government's last budget was 25 per cent, but in the Rudd Government's …

Australia to run into $131 bn debt due to coronavirus, braces for biggest post-war deficit
4 years, 8 months ago

Australia to run into $131 bn debt due to coronavirus, braces for biggest post-war deficit

Firstpost  

The impact of the coronavirus outbreak has left Australia’s trade-exposed $1.43 trillion economy grappling with skyrocketing unemployment Canberra : Australia’s response to the coronavirus pandemic tipped the government’s budget 85.8 billion Australian dollars into the red in the last fiscal year and will create AU$184 billion more debt in the current year, which would be the nation’s biggest deficit since …

Federal Government deficit hits record high of $86 billion as coronavirus devastates the economy
4 years, 8 months ago

Federal Government deficit hits record high of $86 billion as coronavirus devastates the economy

ABC  

Australia's budget deficit hit almost $86 billion last financial year, the biggest blow to the bottom line since World War II, Treasurer Josh Frydenberg has revealed. Key points: A forecasted $5 billion surplus for 2019-20 ended in a deficit of almost $86 billion A forecasted $5 billion surplus for 2019-20 ended in a deficit of almost $86 billion It is …

Debt and deficit go out the window as the reality of the coronavirus crisis hits home
4 years, 8 months ago

Debt and deficit go out the window as the reality of the coronavirus crisis hits home

ABC  

When will it finally sink in? As Treasurer Josh Frydenberg and Finance Minister Matthias Cormann grimly fronted a media pack in Canberra, fresh after releasing Treasury's latest tally of COVID-19's financial toll, they were peppered with endless questions about how we will ever dig ourselves out of debt after all this Federal Government largesse. Debt, debt and more debt Having …

Why Australia's government debts and budget deficits are here to stay
4 years, 8 months ago

Why Australia's government debts and budget deficits are here to stay

ABC  

Disasters, they reckon, tear the curtains away from the festering problems hiding beneath. When Reserve Bank governor Philip Lowe makes his annual address tomorrow to the Anika Foundation, he will home in on the two most pressing problems facing the nation and the global economy: unemployment and ballooning government debt. While it's never wise to predict an RBA governor's speech, …

Why Scott Morrison and Josh Frydenberg should rethink the surplus
5 years, 1 month ago

Why Scott Morrison and Josh Frydenberg should rethink the surplus

ABC  

Sometimes, things just keep coming back to haunt you. As brutally honest as it was, former prime minister Paul Keating's quip "the recession Australia had to have" is still bandied about almost three decades down the track. Then there was treasurer Wayne Swan's promise to deliver a surplus in 2012, a commitment blown away by collapsing tax receipts. Bushfire cost …

Budget Mid-Year Economic and Fiscal Outlook predicts narrower surplus, falling revenue from drought
5 years, 3 months ago

Budget Mid-Year Economic and Fiscal Outlook predicts narrower surplus, falling revenue from drought

Daily Mail  

Australia's budget surplus has been slashed by $2.1billion amid fears the drought and falling iron ore prices could spark the first recession in 29 years. Treasurer Josh Frydenberg promised, in the April budget, a surplus would be delivered for the first time since 2007 - before the global financial crisis hit Australia The economic growth forecast for 2019/20 has also …

A skinny surplus is easier to sell, but the Federal Government is under pressure to start spending
5 years, 3 months ago

A skinny surplus is easier to sell, but the Federal Government is under pressure to start spending

ABC  

It's the long-promised Christmas gift hardly anyone now seems to want. RBA under pressure to kickstart growth The damaging chasm between the RBA and the Federal Government over the economic outlook is best illustrated by stark differences over what is required to fire up wage growth. In the Mid-Year Economic and Fiscal Outlook, however, Treasury maintained the decades-long belief that …

Australia nears its first balanced budget in a decade. But is it what the economy needs?
5 years, 6 months ago

Australia nears its first balanced budget in a decade. But is it what the economy needs?

ABC  

After 10 budget deficits in a row, Australia is basically back in the black. Key points: The Federal Government has posted the smallest budget deficit since the last surplus in 2007-08 The latest Budget in April predicted a $4.2b deficit for the 2018-19 financial year, the final result was a $690m deficit Many economists argue that a balanced budget is …

Australia's economy has slowed to a decade low but the budget may already be back to surplus
5 years, 6 months ago

Australia's economy has slowed to a decade low but the budget may already be back to surplus

ABC  

Australia's economy has slowed to its most sluggish pace since 2009, when the GFC slammed the brakes on GDP growth, but the weak headline result may not stop the Government announcing a budget surplus a year earlier than planned. Key points: Australia's economy has posted its equal slowest annual growth since the year 2000 The economy grew 0.5pc in the …

Tax cuts risk service cuts or budget deficits if Treasury's optimism is misplaced
5 years, 8 months ago

Tax cuts risk service cuts or budget deficits if Treasury's optimism is misplaced

ABC  

Imagine you're offered a great new job. The first is transparency: while budget watchers know that the Government's role in the economy and society will become smaller after the tax cuts take effect, it wasn't a key election issue. It finds, by the end of next decade, two-thirds of the second part of the stage-three tax cuts will go to …

NSW budget 2019 delivers record $93b infrastructure spend, $1b surplus
5 years, 9 months ago

NSW budget 2019 delivers record $93b infrastructure spend, $1b surplus

ABC  

NSW Treasurer Dominic Perrottet has delivered record infrastructure spending and a modest budget surplus in the face of rising debt and the largest revenue write down in the state's history. Key points: The housing slump and lower than expected economic growth have impacted the NSW budget However, the state remains in the black with a $1 billion surplus forecast in …

Labor vows to find $154billion in savings over the next decade to fund its election promises
5 years, 10 months ago

Labor vows to find $154billion in savings over the next decade to fund its election promises

Daily Mail  

Bill Shorten's big-spending election promises will be offset by a $154billion tax grab over the next decade as Labor moves to assure voters it can properly manage the economy. Shadow treasurer Chris Bowen promised a Labor government would deliver bigger and faster surpluses than the Coalition by cracking down on negative gearing for landlords and tax refunds for rich retirees …

Q&A Budget Special
5 years, 11 months ago

Q&A Budget Special

ABC  

TONY JONES Good evening, and welcome to Q&A. Now… TONY JONES Josh Frydenberg, the obvious question is, is the budget in surplus now or will it be in surplus in a year’s time, at the next budget? JOSH FRYDENBERG Well, what I can… TONY JONES We’re not back in the black now. TONY JONES OK. Can I just… JOSH FRYDENBERG …

Australia's budget deficit slashed, with surplus forecast for next year
6 years, 3 months ago

Australia's budget deficit slashed, with surplus forecast for next year

ABC  

A surge in mining industry profits and tax revenue have boosted Commonwealth coffers and allowed the Federal Government to forecast a bigger-than-expected surplus next year. Key points: Treasury says the improved financial position is due to increased tax revenue The forecast deficit for 2018/19 is cut from $14.5 billion to $5.2 billion The forecast surplus for 2019/20 is up from …

Australian workers continue to see wage growth mired near historic lows
6 years, 10 months ago

Australian workers continue to see wage growth mired near historic lows

ABC  

Australian workers are continuing to see little improvement in their pay packets, with wages growing only 0.5 per cent in the first three months of the year. Key points: Wage growth in the March quarter of 0.5pc is the second slowest on record 2.1pc growth over the year puts budget projections in doubt Economists say wage growth unlikely to return …

South Australia's budget slides back into deficit
6 years, 10 months ago

South Australia's budget slides back into deficit

ABC  

South Australia's budget will slide back into deficit this financial year, with Treasurer Rob Lucas blaming the return to red on the poor financial management of the former Labor government. Mr Lucas told the ABC it would be "impossible" for the state's finances to remain balanced, despite former treasurer Tom Koutsantonis predicting a slim $12 million surplus in the Mid-Year …

Budget 2018: Scott Morrison gives tax system a shake-up in pre-election plan aimed at low-income earners
6 years, 10 months ago

Budget 2018: Scott Morrison gives tax system a shake-up in pre-election plan aimed at low-income earners

ABC  

Small tax cuts and more relief over the next seven years are at the heart of the federal budget, with a dramatic shake-up of the tax system beginning in July. Key points: Tax overhaul forms the main plank of the 2018 budget Big money also earmarked for older Australians, mental health and infrastructure spending Superannuation funds also targeted with ban …

Young Australians will wear the cost of Turnbull's middle-income tax cuts
7 years, 4 months ago

Young Australians will wear the cost of Turnbull's middle-income tax cuts

ABC  

Prime Minister Malcom Turnbull has promised tax cuts for middle-income earners in the next budget or even earlier. Paying the price If the Government goes ahead with tax cuts and nothing else changes, we can look forward to the announcement in the 2021 budget of Australia's 13th successive budget deficit. Middle-income earners hit by bracket creep In the 2017-18 budget, …

Federal budget 2017: Government spending from Howard to Turnbull in 10 charts
7 years, 10 months ago

Federal budget 2017: Government spending from Howard to Turnbull in 10 charts

ABC  

Successive Australian governments are usually judged on how they balance the budget and spend taxpayers' dollars. Social security spending rose by 22 per cent in the year to June 2009, and education expenditure jumped 60 per cent a year later as a result of Mr Rudd's economic stimulus package. Government spending on public debt interest has more than tripled in …

WA Government grapples with budget crisis as it seeks return to surplus — but what can it do?
7 years, 11 months ago

WA Government grapples with budget crisis as it seeks return to surplus — but what can it do?

ABC  

The McGowan Government has four months to find a way of walking a fiscal razor's edge as it tries to repair a budget strangled by deficit and drowning in a rising tide of state debt. After years of condemning the "chaos and dysfunction" of the Barnett government for wrecking the state's finances, Labor's landslide election victory last month landed those …

Federal budget: Government remains committed to stalled welfare savings, tax cuts for big business
7 years, 11 months ago

Federal budget: Government remains committed to stalled welfare savings, tax cuts for big business

ABC  

The Federal Government is re-committing to tax cuts for Australia's biggest businesses and a range of stalled welfare savings as it finalises this year's federal budget. Key points: Morrison says plan to extend 5 per cent tax cut to all businesses remains key priority Morrison refuses to say if tax increases will be needed to return to budget balance in …

SA mid-year budget review: Boost to surplus forecast to be $300 million
8 years, 3 months ago

SA mid-year budget review: Boost to surplus forecast to be $300 million

ABC  

South Australian Treasurer Tom Koutsantonis has used his mid-year budget review to announce the state is on track for a higher than expected surplus of $300 million. Key points: $43 million saving from delayed opening of new Royal Adelaide Hospital $192 million windfall from privatisation of Motor Accident Commission South Australia's $6.2 billion net debt position improves slightly The 2016-17 …

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