Budget 2019: Economists largely positive but sceptical about some Treasury forecasts

Budget 2019: Economists largely positive but sceptical about some Treasury forecasts
Rebecca Howard
By Rebecca Howard May 31 (BusinessDesk) - Economists were largely upbeat about the government's 2019 budget but say Treasury's forecasts may be too optimistic.  The Treasury lowered its growth forecasts but still sees gross domestic product growth of 3 percent in the 12 months to June 2020 and 2.8 percent the following year. Ramped up government spending also saw it narrow the predicted surplus over the next few years, essentially narrowing the operating balance excluding gains and losses by $9.2 billion between now and June 2023.  As...

More Economy

RBNZ could hint cuts may come sooner
Economy

RBNZ could hint cuts may come sooner

The RBNZ will announce its latest decision at 2pm on Wednesday. 

Briscoe Group says tax changes will hit FY net profit by $7.4m
Retail

Briscoe Group says tax changes will hit FY net profit by $7.4m

New legislation affects depreciation on commercial buildings.  

Rebecca Howard 05 Jul 2024
Core Crown tax revenue higher than expected in May accounts
Economy

Core Crown tax revenue higher than expected in May accounts

Government tax intake is $1.57 billion higher than forecast, according to the latest Crown accounts.Treasury released the interim financial statements for the 11 months ended May 31 on Wednesday morning, which showed core Crown tax revenue was $111.12b.This was 1.4% more than the...

Staff reporters 04 Jul 2024
Albanese pledges prosperity through manufacturing boost
Economy

Albanese pledges prosperity through manufacturing boost

Renewable energy and critical minerals key focus of $24 billion strategy.

AAP 04 Jul 2024