The treasurer today announced a budget surplus of $17.3 billion, a whopping $3.7 billion higher than anticipated when the budget was announced in May.
A substantial $7 billion of this will go into the Future Fund (portrayed as ‘a sensible investment for the future’ instead of ‘politicians lining their own pockets‘). Another $6 billion goes to the Higher Education Endowment Fund. Medical research infrastructure gets $2.5 billion.
That leaves a good $1.8 billion to spend on . . . who knows? Tax cuts for the rich? Handouts for breeders? Pork barrelling in marginal electorates? Sorry, I meant to say ‘responsible spending on infrastructure that will not drive up inflation or interest rates’. Snort.
My only advice is: work out some way to cash in before October.