The PEFO built on shifting sands

Global economic uncertainties, carbon pricing assumptions, optimistic MRRT forecasts, terms of trade doubts – this Pre-Election Economic and Fiscal Outlook is a rubbery beast.

Given that Chris Bowen issued his economic statement less than a fortnight ago, there was never any realistic possibility that the Pre-Election Economic and Fiscal Outlook from Treasury and Finance would have materially different numbers or assumptions. It didn’t.

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