Experts praise Swan's decision to forgo surplus

ECONOMISTS are relieved the Federal Government is abandoning its push for a surplus, labelling it a sensible, pragmatic and realistic decision.

For months, they have been concerned the Government's penny-pinching to keep the surplus dream alive had the potential to slow growth and jobs.

On Thursday, Treasurer Wayne Swan bowed to the inevitable and all but ditched his commitment to deliver a surplus this financial year.

The latest official figures from the Department of Finance show cash receipts for July to October are almost $4 billion less than forecast in the May budget.

"At this stage I don't think it would be responsible to cut harder or further in 2012-13 to fill a hole in the tax system if that puts jobs or growth at risk," Mr Swan said.

Read more at ABC news online.



Bid to reopen Kimberley Kampers hits big snag

premium_icon Bid to reopen Kimberley Kampers hits big snag

Is this the end for this Ballina business?

Desperate mission to catch turkey shot with an arrow

premium_icon Desperate mission to catch turkey shot with an arrow

The brush turkey has been seen with an arrow through its body

Sister says relationship 'broken' after Universal Medicine

premium_icon Sister says relationship 'broken' after Universal Medicine

Witness 'horrified' over 'chakra-puncture' therapy  

Local Partners