The Coalition Government’s recent Mid-Year Economic and Fiscal Outlook (MYEFO) has confirmed that the Federal Budget will return to surplus in 2019-20.
Returning to surplus is no accident.
The Government has spent five years cleaning up Labor’s mess.
This is part of the Coalition Government’s plan to keep the economy strong and to guarantee the essential services that Australians rely on.
The Budget is now expected to reach a surplus of $4.1 billion in 2019/20. This will be the first surplus budget since the last year of the Howard Government.
The cumulative surpluses over the next four years will be $30.3 billion, around double what was announced in the May 2018 budget.