UNSW professor Richard Holden said Treasurer Jim Dr Chalmers had failed to adopt clear strategy in his first two budgets, which lacked accountability.
Treasurer Jim Chalmers should put fixing the structural deficit at the heart of a clearly defined fiscal policy in next month’s federal budget, according to a leading economist.
“That’s absent at the moment,” he said, suggesting a good fiscal strategy for Labor would be to provide a multi-year strategy for how government would The measure provides an insight into the medium-term sustainability of the budget and is supposed to stop treasurers using temporary improvements as an excuse to lock in long-term spending.
The structural deficit is forecast to be just below 1 per cent of GDP in coming years, which is expected to slowly fall over the decade.
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