Labor’s mid-year budget update shows Australia’s luck is ‘starting to run out’

Independent economist Chris Richardson claims Australia’s luck is “starting to run out” according to the government’s Mid-Year Economic and Fiscal Outlook (MYEFO) for 2024-25. “It’s been magnificent. It has delivered the budget a fortune, but those days are slowly slipping away,” he told Sky News Australia. “And that receding tide leaving the evidence of the permanent decisions we’ve made off the back of the temporary good luck.”