Wong Can’t Commit to Australia Budget Surplus as Revenues Fall

Australia’s chances of delivering a budget surplus in coming years are diminishing as the government’s revenue is being curbed amid a period of economic weakness, Finance Minister Penny Wong said.

“What we are seeing in the economy means that we have a very large hit on revenues,” Wong said in an interview on Sky News yesterday. “That’s a hit that is substantial both in this year and over the forwards.”