Govt's spending cuts don't go far enough: economists

Less money is coming in than predicted in the 2023 budget (Image: BusinessDesk)

Tue, 29 Aug 2023

Westpac senior economist Nathan Penny says billions of dollars in government spending cuts announced on Monday are a “good start” but don’t go far enough in addressing future budget shortfalls. Last week, Westpac signposted headwinds for the government’s budget in their pre-election report where they estimated the government would have to borrow $15 billion more over four years than originally planned. Against this backdrop, Penny said government cuts of nearly $4b represented a relatively “small change...

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