Govt spending and revenue better than forecast, but debt higher
The reason for the blow-out in net debt is not because the Government was spending more or earning less.
The Government’s cash deficit was higher than forecast.
Net Crown debt is already $5.646 billion higher than the Treasury forecast just nine weeks ago.
In the interim financial statements for the three months to the end of September, net debt was $81.382b compared with the forecast of $75.736b in the Pre-election Economic and Fiscal Update (Prefu)
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