The Distillery: PEFO pile-up

Jotters pour scorn on Treasury's forecasting track record, with one saying the department has now "jumped the shark".

If the Pre-Election Economic and Fiscal Outlook were a movie, it would be Todd Phillips’s The Hangover Part II. It was effectively a remake of the original, which in this case is the government’s post-budget economic statement, rather than another chapter that delivers anything new – and the critics are disappointed.

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