Back-to-back Government's Budget Surplus

The government has announced the results of consecutive budget surpluses in almost two decades.

It's a budget Source: AAP

Treasurer Jim Chalmers celebrated an economic victory, but household budgets across the country are still struggling to survive the cost-of-living crisis.

But senior economics lecturer at the University of Canberra, Dr John Hawkins, said part of the budget savings were beyond the government's control.

Australian Treasurer Jim Chalmers and Australian Prime Minister Anthony Albanese (at the background) Source: AAP / AAP Image

The savings are due to delays in spending by states in achieving milestones in education, remote housing, health, water, and environmental programs.

Lower than expected demand for elderly care, the NDIS, COVID-19 vaccination payments, onshore detention and several other grant programs.

The government estimates it will save about $80 billion in interest payments by reducing government debt.

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