The whole point of this exercise was to suggest the IMF was floored with Chalmers’ performance. In truth, the IMF wasn’t even considering it.
Already a subscriber?Treasurers love nothing more than external authorities proving their economic bona fides. And if said validation isn’t at hand, one can always assemble it.′ office sent out a release declaring that IMF data had shown a “remarkable” improvement in Australia’s budget position, before lauding its own “responsible management” of fiscal policy.
There is no table showing Australia in second place in the IMF report. It slices and dices countries not by G20 status but by their level of economic development. Australia is an advanced economy, and is, on that table, ranked ninth on government balance as a percentage of GDP, behind Denmark, Sweden, Hong Kong, Croatia and others.
But that’s before we get to the true weakness of IMF data, alluded to in passing by the treasurer’s release, but which should have disqualified it from being used like this in the first place.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Interest rates: Keep emergency power to override Reserve Bank, Treasurer Jim Chalmers toldThe treasurer should not scrap the extraordinary power to override the Reserve Bank, the Coalition and Greens have recommended in their reviews of the bank’s overhaul.
Read more »
Budget 2024: Jim Chalmers’ plan to fast-track energy transition red tapeTreasurer Jim Chalmers is close to finalising a package to get capital flowing for the stuttering energy transition and other Labor priority projects.
Read more »
Treasurer Jim Chalmers signals budget welfare boost unlikely as government strives for surplusThe government has all but ruled out further welfare increases, before receiving a pre-budget report from its advisory committee.
Read more »
Merger law: Jim Chalmers reveals changes to merger regimeThe ACCC will be able to block serial acquisitions and those that entrench the market power of big players, but Jim Chalmers rejected a “presumptive ban” on mergers.
Read more »
Treasurer Jim Chalmers embarks on legacy-building merger reformsHow the treasurer’s merger reforms end up working in practice will be known in just a few years. Whether they achieve their economic objective will not be known for decades.
Read more »
Australia merger laws: Jim Chalmers’ reforms threaten to ‘kill off start-up sector’, tech leaders warnTech leaders have warned that proposed merger laws will kill deals before they close, starving the sector of the capital it needs to continue to grow.
Read more »