He’s promising deeper cuts to turn around the budget after last year’s deficit doubled to A$43.7bln from original forecasts 15 months ago.
The 2011-12 budget outcome, released today, reveals a minor improvement in the final numbers compared to the May budget forecasts, with the underlying cash deficit at $43.7 billion from $44.4 billion, but still above the forecast of A$22.6 bln.
Julia Gillard ‘ s government has promised a surplus of A$1.5 bln for the 2012-13 financial year, and Swan has promised the government would deliver a surplus and keep to its policy commitments
