Time to face rising pressures on Australian government budgets

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Australian government budgets are at serious risk of posting deficits in the next decade of around 4 per cent of GDP, or $60 billion a year, according to a new Grattan Institute report that examines the spending and revenue of Commonwealth and State Governments.

Budget pressures on Australian governments reveals that a combination of rising costs, large political promises from both sides of politics, likely tax shortfalls and the prospect of declining minerals prices will create “significant problems” for budgets.

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