Jobs boom reduced budget deficit by $53 billion

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In the economic victory of the Morrison administration, the post-coronavirus employment boom is expected to wipe out $53 billion from the projected budget deficit. Windfalls have been reported in just eight months since the peak of the pandemic, due to increased income tax revenue and reduced welfare expenses. Australian newspapers learned that the deficit will be US$161 billion, and the budget forecast on October 6 is a deficit of US$213.7.

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