Strong global commodity prices have benefited Australia’s federal budget, which is officially back in black this year for the first time in 15 years. The Office Department of Finance revealed on Friday in its latest monthly financial statement that the Australian federal government’s underlying cash balance in the 12 months to May was $19 billion…
Australia Sees First Budget Surplus in 15 Years; $19 Billion Boost From Soaring Commodities
Bill Relief, Free Kindy, Hospital Cash in Queensland Surplus Spend
Queenslanders are being showered with electricity bill relief, free kindy and a raft of other cost-of-living measures as soaring coal royalties powered the state budget to a historic surplus. Treasurer Cameron Dick said the $12.3 billion (US$831 million) surplus for 2022/23 was the largest ever for any state or territory while declaring “help is on…
Lawmaker Proposes Using a Portion of Texas’ $27 Billion Surplus for Property-Tax Relief
December 2, 2022
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The state of Texas is sitting on a hefty $27 billion surplus. Lt. Gov. Dan Patrick on Wednesday laid out a list of priorities he would like lawmakers to consider in the next budget. Patrick, a Republican who resides over the state Senate, emphasized that it would be up to the members, but he believes…
Alberta’s Inflation-Relief Spending Has Risks Despite Big Budget Surplus: Economist
November 30, 2022
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News Analysis Governments are taking advantage of revenue increases—in part due to high inflation—to send households money to mitigate rapidly rising prices. In doing so, a primary concern is to avoid blunting the Bank of Canada’s efforts to cool inflation and encourage government spending restraint. But Alberta’s massive budget surplus comes with its own particular…
Alberta Budget Surplus of $12.3 Billion Will Fund Affordability Package: Finance Minister
EDMONTON—Alberta Finance Minister Travis Toews announced Thursday at a news conference that Alberta has a projected surplus of $12.3 billion in the 2022–23 mid-year budget. This is much higher than an earlier February forecast of only $511 million. Toews said the surplus will allow the province to provide significant help to Albertans and their families…
$100 Billion Surplus Turns to $24 Billion Deficit
November 23, 2022
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Commentary Just like that, California’s record $100 billion surplus has vanished into the Pacific Ocean fog, replaced by a $24 billion deficit. That’s according to the projections of the nonpartisan Legislative Analyst for fiscal year 2023-24, which begins next July 1, in “The 2023‑24 Budget: California’s Fiscal Outlook.” Well, I warned them repeatedly right here…
$100 Billion Surplus Turns Into $24 Billion Deficit
November 23, 2022
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budget surplusCaliforniadeficitLocal NewsNorthern CaliforniaOpinionRegional-Local NewsSouthern CaliforniaUSViewpoints
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Commentary Just like that, California’s record $100 billion surplus has vanished into the Pacific Ocean fog, replaced by a $24 billion deficit. That’s according to the projections of the nonpartisan Legislative Analyst for fiscal year 2023-24, which begins next July 1, in “The 2023‑24 Budget: California’s Fiscal Outlook.” Well, I warned them repeatedly right here…
How Will Gov. Newsom Spend Expected $31 Billion Surplus?
December 28, 2021
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Commentary California’s government is accelerating toward Gov. Gavin Newsom’s early January release of his budget proposal for fiscal year 2022-23, which begins on July 1. Newsom announced in October there would be an “historic budget surplus.” In a November 17 report, “The 2022-23 Budget: California’s Fiscal Outlook,” Legislative Analyst Gabe Petek projected a $31 billion…
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