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Analysts are forecasting a new ‘super bull’ phase for commodities prices — potentially turning currently fairly dire federal budget forecasts on their head.
The price of iron ore, for example, currently assumed by Treasury to trade at $US60 per tonne, is expected to remain valued at close to twice that price, providing more company tax revenue.
And government coffers could also take record amounts of personal tax, as employment continues to grow.
So, does this give the government fresh new spending power?
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Paul Bloxham, Chief Economist, HSBC Australia
Chris Richardson, Rich Insight
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Broadcast 2 hours agoTue 28 May 2024 at 2:00am