Revenue and deficit

The government has been signalling in the lead-up to budget night that it's looking at a much rosier revenue picture than previously predicted.

And it's true, the revenue forecast shows a significant increase in money coming into government coffers.

As with previous budgets, the government has executed a number of timing tricks to help it reach surplus as soon as possible. For example, the benefits from the black economy crackdown on chop-chop tobacco are largest in 2019-20.

These timing tricks allow the government to spend increased revenue from tax receipts, but at the same time get back into the black by next year.

Our cash balance
Budget 2017-18
MYEFO 2017-18
Budget 2018-19*
Underlying cash balance ($ Billions)