Original article by John Kehoe, Ronald Mizen
The Australian Financial Review – Page: 10 : 1-Oct-21

The federal government has advised that the Budget deficit blew out to a record $134.2bn in 2020-21, although this is well below the government’s worst-case scenario forecasts. Meanwhile, data from the Department of Finance shows that the underlying cash deficit for the first two months of 2021-21 was $22bn, compared with a forecast of $28.1bn in the Budget in May. Government revenue for the period was $12.1bn higher than had been forecast in the Budget, with higher-than-expected revenue from personal and company taxes.

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AUSTRALIA. DEPT OF FINANCE