Fed: Federal Budget in deficit by $3.176 billion at December 31

AAP General News (Australia)
02-06-2004
Fed: Federal Budget in deficit by $3.176 billion at December 31

CANBERRA, Feb 6 AAP - The federal Budget was in the red by more than $3 billion half-way
through the financial year due to a lower tax take and the timing of welfare and higher
education payments.

Figures released by Finance Minister Nick Minchin today showed the cash balance after
the first six months of the financial year was a deficit of $3.176 billion.

The government is forecasting a surplus of $4.6 billion in 2003-04, and the monthly
financial …