Wednesday, November 26, 2008

The November budget update "probably" already out of date

Treasurer Wayne Swan on tonight's 7.30 Report:>

O'BRIEN: So if the rest of the world economy is now getting worse than you anticipated when you produced the mid-year review, won't some of your assumptions in that mid-year review be out of date too - like growth? Three weeks ago you expected growth in Australia to slow from 2.5 per cent down to 2 per cent in this financial year. Surely growth will now be slower than that too won't it? Has to be.

SWAN: Well it most probably will. We said when we produced the mid-year economic review that all the risk was on the downside, and events since then confirm that that is the case.

2 comments:

redback_original said...

Thanks Peter - can you have a spolier alert for us Queenslanders who are an hour behind?

Just kidding...

Anonymous said...

I watched the 7:30 report tonight. I'm sort of giving Swam the doubt, but he's not a comfortable man. I think Tanner has the confidence to be Treasurer and to pass that confidence on to the nation.
Gord, Turnbull, it's not all about you. You left your run too late.

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