Treasurer announces Labor’s first surplus in over 30 years at $22.1b

Treasurer Jim Chalmers has announced Labor’s first surplus in over 30 years at $22.1 billion.

Mr Chalmers said surplus isn’t an “end in itself” but a foundation for investing in the future.

“This surplus is a consequence of spending restraint, banking upward revisions in revenue and also finding substantial savings in the budget,” Mr Chalmers said during a media conference on Friday.

“Now this is not the first time that a government has received a substantial improvement in revenue.

“But what is different this time, is instead of spending most of that, which our predecessors did, we have banked almost all of it and that has made the difference.”

Видео Treasurer announces Labor’s first surplus in over 30 years at $22.1b канала Sky News Australia