Costello’s Billions

Speculation is mounting that the Mid-Year Economic & Fiscal Outlook could report a budget surplus as high as $14 billion.  This is bound to give added impetus to proposals for further tax reform, with major changes to the tax system now readily affordable, even within the confines of the surplus.

The actual release date for the MYEFO remains as illusive as ever.  As in previous years, the Treasurer will release the document at his own convenience, often with minimal notice.  The government’s failure to adhere to a simple timetable for the release of important budget documents says a great deal about the low standards for fiscal transparency and accountability at a federal level.

posted on 24 November 2005 by skirchner in Economics

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