Now I will admit that I am no economic whiz, however, I am intrigued to see how a Ted Quinlan-announced $91 million deficit can miraculously turn into a surplus in the time it takes to say ‘social engineering’.
This is, in Stanhope’s own words, a $212 million turnaround, and in my eyes, lends itself moreso to some creative accounting rather than monies in the coffers.
Given this huge and unexpected windfall that I seriously doubt actually exists, one must ask why this budget is being touted as one of the toughest yet in the history of the ACT’s self government.
I must admit I do find this statement by the comrade quite amusing:
‘(He) warned that the volatility starkly displayed by such swift changes showed how vital it was to put the Governmentâ€™s finances on a more stable footing, less vulnerable to windfall gains and unanticipated and often uncontrollable declines in revenue.’
Okay, so we really don’t have a surplus, it just appears so on the books.
This article from the Comrade’s media release here.
[ED The Canberra Times story on the Budget is here]