Cast your mind back a couple of years and you will probably remember finance minister Jerome Kennedy told us a couple of things.
One was that he expected the government would run deficits for three years, totalling about $1.6 billion.
The other was that surplus would follow after that.
Well, here we are three years later and the latest finance minister – we’ve had four in three years – is now saying we can expect to see another five years of deficits before maybe, possibly, getting the budget into surplus in Year Six ALE.
That’s ALE as in “after the latest estimate.”
