Forecasts are so much more useful than having no
forecasts at all. And as stated earlier - properly used
and understood will lead to better business decisions
than forecasts ignored.

Jim Chalmers is in a good position given his background
and experience. And again as stated earlier - I don't
think we'll see anything too radical from him.

For anyone interested here's a link worth reading:

http://www.ministers.treasury.gov.au/ministers/jim-chalmers-2022/speeches/ministerial-statement-economy

What economic policies that are providing revenue have the Greens developed & implemented ?

Labor inherited one of the strongest economies in the world and far stronger than it received from Labor in 2013.

However, with record low unemployment, high growth and the oil price shock inflation was sure to rise which is why the coalition promised to cut spending. With Labor at the reins for 2 months, inflation has increased dramatically mostly due to Labor's incompetence and failure to act.

The way it is looking Labor is looking like steering Australia into its first real recession since Keating.

"Forecasts are so much more useful than having no
forecasts at all."

Nup. Bad forecasts are worse than no forecasts. The heinous errors from our government 'experts' over the past 18 months have led us to this position where the current government has little to no room to manoeuvre other than sit tight and hope things improve internationally.

What is even worse than bad forecasts is allowing those who made these decisions to continue in their functions. The entire RBA ought to be removed. The Treasury Dept ought to be gutted. If Chalmers has any sense he will be seeking advice outside the golden towers and from people prepared to tell him some home truths. Not that I think he'd be in a position to act on that advice since it will upset the hopes and dreams of those in his party.

The main reason I voted Labor was to get the Libs out of office. While they kept winning there was little incentive for them to examine their philosophy. Dragged by Turnbull and then Morrison further away from fiscal responsibility and support of the free-market, the Libs were a disaster for the nation. What I'm looking for from the Libs is a recognition of the error of the last five years and a desire to return to being the type of economic managers the country needs and the ALP simply can't supply. As things get progressively worse over the next year, it will be more electorally acceptable to go down that path. But I don't think the current Lib leadership are the ones to make that realignment.

Here's the link again:

http://ministers.treasury.gov.au/ministers/jim-chalmers-2022/speeches/ministerial-statement-economy

We'll have to wait and see what Labor will be capable
of achieving. Hopefully using government expenditure
to increase productivity by investing in things
like education and training, and innovation will help
grow the economy.

Budgets should be assessed "not on whether it's a little
bit bigger or a little bit smaller than our opponents"
but on "value for money."

Chalmers has argued it's the quality not the quantity
of the government spend that is most important.