On the eve of the budget, Luke speaks with David Hughes, Executive Director Menzies Research Centre, who has served in senior roles advising three prime ministers… Tony Abbott, Malcolm Turnbull and Scott Morrison.

Mr Hughes says we will hear the phrase ‘remarkable turnaround’ quite a bit on Budget night.  On paper it will be a turnaround.  Revenue will have risen by close to $100b from what was forecast and the pandemic deficit of $200b will have been addressed — leaving a budget almost in balance.

He says, we should not be so easily fooled if the Government seeks to claim credit in the short term.  The simple reason for this turnaround on paper is the fact that the Government got its forecasts so wrong in October.

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