Abbott avoids timetable on surplus

Prime Minister Tony Abbott says his government will restore the budget back to surplus as quickly as possible.

Prime Minister Tony Abbott speaks during Question Time

Prime Minister Tony Abbott has avoided putting a timetable on a return to surplus. (AAP)

Prime Minister Tony Abbott has avoided putting a timetable on when his government will return the budget to surplus.

Shadow treasurer Chris Bowen reminded the prime minister that only 56 days ago he said he would bring the budget back to "broad balance" in 2017/18.

"Does the prime minister stand by this commitment," Mr Bowen asked in parliament question time on Tuesday.

Mr Abbott said the coalition made a series of fundamental commitments to the Australian people in the lead-up to the 2013 election, one of which was getting the budget back under control.

"That is exactly what we are doing," Mr Abbott said.

"This government is absolutely ... determined to restore the budget to surplus as quickly as we reasonably can."

An analysis by Deloitte Access Economics on Monday said because of tax revenue writedowns and additional spending on national security and military operations, the 2017/18 deficit would more likely be around $12.4 billion.

That compares with the near balance of $2.8 billion deficit in 2017/18 projected in the May budget.


Share

1 min read

Published

Updated



Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world