Thanks for logging in.

You can now click/tap WATCH to start the live stream.

Thanks for logging in.

You can now click/tap LISTEN to start the live stream.

Thanks for logging in.

You can now click/tap LATEST NEWS to start the live stream.

LISTEN
Watch
on air now

Create a 3AW account today!

You can now log in once to listen live, watch live, join competitions, enjoy exclusive 3AW content and other benefits.


Joining is easy.

Advertisement
Advertisement
Advertisement

Treasurer explains why surplus projections have been slashed

3aw drive
Article image for Treasurer explains why surplus projections have been slashed

The promised $7 billion surplus for this financial year has been revised to $5 billion.

A combination of low wage growth, tumbling GST receipts, bushfires, drought and a weakening global economy have all been blamed.

The downgrades are far more dramatic in future years, when the surplus predicted by Treasury has halved by 2023.

“There’s no doubt that the Australian economy, like many other economies around the world, is facing a number of significant challenges,” treasurer Josh Frydenberg told 3AW Drive.

Click PLAY below to hear more on 3AW

3aw drive
Advertisement