Sorry for the cryptic headline, this in the Aussie press for today:
- Australia's debt could blow out by more than $100 billion if the budget is wrong in its prediction that the economy will return to pre-crisis growth and the Turnbull government is unable to win Senate support for all of its outstanding savings measures.
That sort of reads like a basic description of the risks to the budget:
- IF projections are wrong
- IF the upper house does not support saving and spending measures
The full piece is here: $100bn hit to deepen budget debt crisis (it may be gated)
It goes on:
- "Consistently since 2011, Australia has budgeted that things wouldn't get worse in China and that there would be enough bipartisanship to pass things in the Senate," Deloitte Access partner Chris Richardson told The Australian.
- "In practice, neither of those two things has come to pass and the risk is that it stays that way. China has disappointed and so has bipartisanship."
And that's the thing, right there ... really those two 'IFs' I outlined are more likely to be 'Whens', if past experience is anything to go on (and I reckon it is)
