| Labor has been warned it should be tightening the fiscal settings in the budget, or risk "squandering" the benefits from the once-in-a-generation commodities boom. The Treasury has already forecast the budget will improve from a $41 billion deficit this financial year to a $13bn black hole in 2011-2012.
It was predicted in the Mid-year Economic and Fiscal Outlook that the budget would return to the black in 2012-2013 with a $3.1bn surplus that would rise to $3.3bn the following year..............................................Full Article: Source
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