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If the federal government, as the Parliamentary Budget Office projects, manages to return a narrow surplus by 2021 it will be due to a surge in wages and more heavy lifting by Australian workers paying even more of their hard-earned income in personal tax due to the insidious effects of bracket creep. Given the penchant of both sides of politics for big spending and the entrenched tendency for lazy government and avoidance of unpopular spending cuts, a rebalanced budget is unlikely to be achieved through fiscal discipline by those who like to use our money to buy popularity.




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