Fed: Swan says budget deficit inevitable

AAP General News (Australia)
02-01-2009
Fed: Swan says budget deficit inevitable

Treasurer WAYNE SWAN says the budget will go into deficit due to the global downturn.

He says it's inevitable because of the unwinding of China and the mining boom .. with
a 50 billion dollar hit to Australian company tax receipts expected over the next four
years.

Mr SWAN's told the Nine Network that'll result in a very big hit to the budget bottom
line .. and Australia will have a temporary budget deficit.

AAP RTV mb/jmt

KEYWORD: ECONOMY SWAN (CANBERRA)

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