MYEFO is Hockey's chance to set the record straight

Forget the political blame game. The Treasurer should use MYEFO to fully inform the public about the budget and the need for tax reforms.

The December Mid-Year Economic and Fiscal Outlook promises to be a doozy. Recent analysis by consulting firm Macroeconomics indicates that a hostile Senate and a sharp decline in iron ore prices have blown a $51 billion hole in Treasurer Joe Hockey’s first budget.

According to Macroeconomics, the deficit will increase to $47.8bn in the 2014-15 financial year (from May estimates of $29.8bn) before easing to a deficit of $24bn in the 2017-18 financial year (compared with earlier estimates of $2.8bn).


SMS Code Sent…

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Log in to access this content

Looks you are already a member. Please enter your password to proceed

Hi {{ user.FirstName }}

Verify your mobile number to unlock a FREE trial

Looks like you've already taken a free trial

Please sign up for full access

Updating information

Please wait ...

Related Articles