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Iron ore price means short-term budget relief, not repair

Posted on 29 November 2016

A bounce in the iron ore price to near two-year highs may deliver a short-term boost to the federal budget, but economists warn the benefit could be short-lived and only offset slower-than-expected wages and employment growth.
As Scott Morrison prepares the mid-year budget update for ­December 19, iron ore yesterday traded at $US79.20 a tonne, nudging $US80 for only the second time since October 2014. The May budget forecast an iron ore price of $US55 a tonne, up from a previous estimate of $US39, which Labor had said was an “heroic” assumption………………………………………..Full Article: Source


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