Business
The federal budget’s forecasts have relied on dodgy assumptions for years – ABC News
When the assumptions behind the budget forecasts are wrong, who is responsible for the damage?
The federal government will release its budget this week.
The numbers in the budget will be based on “forecasts” of the economy.
Specifically, they will rely on forecasts for wages growth, inflation, employment, taxes, population, and commodity prices, among other things.
Some of the government’s decisions about where to spend money, and how much to spend, will be based on those forecasts.
But what if the assumptions behind the forecasts turn out to be wrong?
Well, as it turns out, some have been…
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