Scott Morrison, Australia's treasurer Source: Getty Images
Federal budget deficits will increase by more than $10 billion in coming years as the Government battles low wage growth and falling company profits, but it insists it will still return a surplus in 2020/21. Three credit ratings agencies, including Standard & Poor's, indicated they would not strip Australia of its AAA credit rating, but S&P said it remained pessimistic about the Federal Government's ability to return the budget to surplus by the end of the 2021 financial year. Aaron reports.
Federal budget deficits will increase by more than $10 billion in coming years as the Government battles low wage growth and falling company profits, but it insists it will still return a surplus in 2020/21. Three credit ratings agencies, including Standard & Poor's, indicated they would not strip Australia of its AAA credit rating, but S&P said it remained pessimistic about the Federal Government's ability to return the budget to surplus by the end of the 2021 financial year. Aaron reports.
