Australia’s long-term budget looks fine. But something important is missing from the forecasts | Greg Jericho

Australia’s long-term budget looks fine. But something important is missing from the forecasts | Greg Jericho

Predictions of debt, deficit and tax revenue out to 2060 rather nicely avoid the major issue that will confront the economy – climate change

The latest long-term report from the Parliamentary Budget Office provides the good news that the budget looks fine and debt levels even in the worst-case scenario are manageable. The bad news is that, as with all our long-term economic forecasts, there is little attention paid to climate change rendering much of these forecasts irrelevant.

The PBO’s latest “Beyond the budget” report charts where the Australian government’s finances are headed over the next 40 years.

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