BUDGET 2013: On the wings of the dollar

A new-found conservatism in Treasury estimates means the economy could grow faster than expected, especially if the Australian dollar continues to fall.

Having been continually embarrassed by what have turned out to be optimistic forecasts for government revenue and therefore the return to surplus, this could well be the budget that Treasury has swallowed a chill pill and erred on the conservative side with its economic forecasts.

It seems to be setting the scene for a pleasant surprise sometime down the track when it turns out that economic growth and government revenue are likely to be higher than it is currently projecting.

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