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Sun 30 Jun 2013

Australia to have ended decades of deficit

  • By Eva HS and 1 other
  • Laast Update: 2 years ago
  • Australia

Treasurer Wayne Swan

Australia's government is to have cut spending for the first time in over 42 years, with an underlying cash surplus at an estimated A$1.54 billion by today. 

According to Treasurer Wayne Swan "The surplus years are here" and the balanced budget is to "provide a buffer against global uncertainty and continue to give the Reserve Bank room to cut interest rates for families."

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