Josh Frydenberg’s budget is an extraordinary turnaround – but leaves a $40 billion problem
- Written by Richard Holden, Professor of Economics, UNSW Sydney
It’s often said in business circles that good companies manage their balance sheet, and bad companies manage their P&L (profit and loss account). That same aphorism applies to governments.
And by that standard, Josh Frydenberg’s fourth budget is a triumph. Net debt is forecast to peak at 33.1% of GDP in 2024-25, compared to 40.9% in...
