Minimal extra cash for politicians' promises in Treasury updateMAARTEN HOLL/STUFF Finance Minister Steven Joyce speaking at Treasury's Pre-election Economic and Fiscal Update (PREFU)Treasury has delivered its updated outlook for the Budget, and there is less money to spend in future years than economists expected - and politicians had hoped. A slightly lower overall growth outlook trims the 2019 surplus forecast from $4b down to $3.5b. That was "slightly better than a wash by the end of the forecast period", Joyce said - meaning the sum of surpluses was slightly higher over the next four years. There was little change to the international outlook from the Budget update, China was slightly stronger and Australia a little weaker. But the terms of trade were better and the balance of payments deficit would improve to less than 3 per cent.

Source: Stuff August 23, 2017 00:09 UTC