There is a ‘significant increase’ in government expenditure

Australian Industry Group Chief Executive Innes Willox says there is a “significant increase” in government expenditure. This comes after Treasurer Jim Chalmers delivered the government’s Mid-Year Economic and Fiscal Outlook (MYEFO) for 2024-25. The Treasurer revealed the budget deficit, at $26.9 billion, is $1.3 billion smaller than previously expected.