Surplus, AAA rating at risk in homebuyer-friendly budget

First home buyers would be able to withdraw money from superannuation for a deposit on the condition they put it back later and save more quickly for deposits by having their pay directed into superannuation-like accounts under proposals being considered for next Tuesday’s budget.  

Scott Morrison and Malcolm Turnbull’s second budget is set to forecast a surplus in 2020-21 using a new measure of budget balance called “net operating balance” that will exclude extra spending on infrastructure, however Australia’s preeminent budget forecaster questions this, saying it won’t return to surplus for the foreseeable future.

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