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Government Announces Budget Surplus Of Negative $161 Billion

Josh Frydenberg says his government will deliver on its commitment of getting ‘back in black’, confirming a budget surplus of – $161 billion for the 2021/22 financial year.

Wearing a ‘Back in Black’ cap and t-shirt, Mr Frydenberg said in his budget speech that he was a man of his word.

“We said we’d deliver a surplus, and that’s exactly what we’ve done. It’s definitely a surplus”.

Prime Minister Scott Morrison reiterated that the budget was in surplus. “It’s a bit of a different style of surplus this time around – one where we’ll have to borrow a bit of money to make it work – but it’s a surplus nonetheless. It’s definitely a surplus. That’s what we deal with in the Liberal Party: surpluses. And this is a surplus”.

When asked why it wasn’t being described as a deficit, given it was a negative figure, Mr Morrison said “I don’t accept the premise of your question”.

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