Swan Sees Limited Australia Revenue Boost From Recovery: Economy

Australian Treasurer Wayne Swan warned a world economic rebound is unlikely to boost government revenue much as he seeks to deliver the nation’s first budget surplus since the global financial crisis.

“When it comes to the structural underpinnings of the revenue base, we are in a tough new world,” Swan said in a speech today in Sydney at a meeting of the Australian Business Economists. “This is a crucial point: even if we were to witness an enduring global recovery, we should not expect to see a similar recovery in revenues.”