Sean Langcake discusses the Australian government’s mid-year economic and fiscal outlook
Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia, explains what’s behind the government’s conservative projections for iron ore.
The recent Mid-Year Economic and Fiscal Outlook (MYEFO) identified $9.8b in savings through lower spending on the Infrastructure Investment Program (IIP) over the forward estimates; an independent review previously found several projects to be over budget and overly optimistic due to capacity constraints. As with the other revenue windfalls in MYEFO, these savings have been invested back into improving the budget bottom line and reducing net debt, rather than loosening the stance of policy.
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Sean Langcake
Head of Macroeconomic Forecasting, Oxford Economics
+61 (0) 2 8458 4236
Sean Langcake
Head of Macroeconomic Forecasting, Oxford Economics
Sydney, Australia