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Would he delay the return to surplus or make more cuts to spending.
By the administration's projections, the budget would return to surplus in 2005.
Once again, the forecasted return to surplus has been pushed back into the future.
It is now proposing to return to surplus via the "New Zealand" road, by keeping expenditure growth very low.
The finance minster recently revised the deficit higher to 2.5% of GDP and pushed back the forecasted return to surplus to 2019.
In the lead-up to Myefo, Hockey had been preparing the ground for significant revenue write-downs and a delay to the return to surplus.
Similar(25)
Besides, Mr. Bush knew all about the recession and Osama bin Laden (remember him?) a year ago, when his projections showed a return to surpluses by 2005.
The official budget forecasts of a return to surpluses by 2006 look too rosy: they make unrealistic spending assumptions and ignore unavoidable tax changes, such as fixing the Alternative Minimum Tax, which will affect a third of all taxpayers by 2010.
China posted its first monthly trade deficit in six years in April and only narrowly returned to surplus in May.
Others noted that the cost means there is little hope of the federal budget returning to surplus anytime soon.
Politically, the promise of a rapid deficit abolition, returning to surplus by April 2018, was a sharp challenge to Labour: beat that!
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CEO of Professional Science Editing for Scientists @ prosciediting.com