Scott Morrison has revealed Treasurer Josh Frydenberg will next week announce the nation’s first budget surplus since John Howard was prime minister, driven by what he says is the lowest level of spending growth in more than 50 years.
The Prime Minister’s comments mean the Coalition will have a bigger-than-expected war chest ahead of the federal election, raising the possibility of further tax cuts pledges.
Mr Morrison told a business breakfast in Perth today that Tuesday’s budget would represent “the day Australia got back to where the Howard government left it”.
“In 2007 going into that election John Howard had a $20 billion surplus and there was $40bn in the bank,” Mr Morrison said.
“Labor reversed that in the space of a year, and then they just kept going.
“And it has taken us more than 10 years for a treasurer to stand at the dispatch box again as Josh Frydenberg will do … and announce a surplus.
“And that comes from the sheer determination and will to get expenditure under control, to put in place measures that drive your economy forward.
“So next Tuesday will be a very important day because it’s the day we got back. It’s the day Australia got back to where the Howard government left us.” Mr Morrison said the Coalition had overseen the lowest level of spending growth of any federal government in more than 50 years.
When asked about his highlight as prime minister, he nominated his record on job creation. Andrew Burrell
WA Chief Reporter
