Australian Federal Budget: a glaring error

Posted: October 7, 2020 in Uncategorized

There are a lot of really well written analysis out there, but few point to a glaring error that will make it impossible to recover from this spending binge.

On page 2 of the budget there is a forecast of a GDP Growth of 3.75% for 5 years (4.75%pa in 21/22).

Australia in the last good 10 year achieved an average slightly more than 2% pa with only in 2012 reaching 3.92%pa.

With a net loss of immigration this is impossible. Hence all the Government forecasts are wrong.

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