Treasury guesstimates


Blogger and twitterer, Barnaby is Right:

Or to put it another way, in the 2007-’08 Budget the Ken Henry-led Treasury department underestimated future government revenue by a grand total of $113.3 billion over the first 3 years of their “forward estimates”.

Incredible. They actually received $113.3 billion more than they originally forecast through to EoFY 2010. And yet, these Treasury gods and their Rudd-Gillard-Goose muppets have still managed to plunge Australia into $194 billion in gross debt by mid-2011.

Ouch. Read on.

And to think the current head of Treasury was formerly the head of…

…The Department of…

… Climate Change.

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