The macroeconomic impact of a Budget has to be judged primarily by the demands that the government makes on the household and corporate sector through its taxation and borrowing proposals. The impact of how much it spends also matters for macroeconomic health.
The Budget has presented its numbers comparing Budget estimates with revised estimates for last year. However, because the Budget is being presented in July we have the Controller General of Accounts estimates of provisional actuals which are substantially different from the revised estimates presented in the Interim Budget in February ...
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