The Mid-Year Economic and Fiscal Outlook [MYEFO] will include - TopicsExpress

The Mid-Year Economic and Fiscal Outlook [MYEFO] will include spending measures announced since the May budget such as the $630 million counterterrorism package, the estimated $400 million cost of Australias deployment to Iraq, the impact of recently signed free trade agreements, as well as a $3.2 billion rise in family tax benefit payments and a $2.4 billion rise in childcare rebate payments, both over four years. The proposed compromise on higher education reforms, which will cost $3.5 billion, will also be accounted for. But the fall in revenue from companies, along with slower wages growth and the failure to pass key budget savings, will combine to deliver a big hit to the budget bottom line. Read more: smh.au/federal-politics/political-news/joe-hockeys-budget-update-to-unveil-multibilliondollar-revenue-hit-20141214-126wdf.html

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