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There\'s a pretty clear message from the opening of the Government\'s books.
\\nThe Crown right now isn\'t doing too badly at all.
\\nDebt looks to be on a downward track and somehow, despite the spending, the Government could be back in surplus by 2025.
\\nYou might find it hard to get your head around but Treasury even says the Government\\u2019s management of the economy is not contributing to inflation.
\\nNot only that but Treasury says current fiscal policy is such that the Reserve Bank will be under less pressure to hike interest rates going forward.
\\nHow so? Well, it\'s all about tax and the amount the Crown is raking in. Not just in what it takes from our wages, but from GST.
\\nInflation means higher prices, higher prices means more GST take.
\\nHigh fuel prices on their own are just fine and dandy if you\'re skimming that 15 percent off the top.
\\nThe irony of the situation is that while the public accounts look OK, household budgets, or the accounts of the public if you like, are buggered really.
\\nReal household wealth is picked to fall this year by around percent.
\\nWe\'re running as fast as we can, but thanks to inflation and house prices falling, we\'re going backwards.
\\nAnd that\'s before the deliberately engineered recession kicks in, probably early next year.
\\nTreasury sees unemployment at 5.5 percent in 2024.
\\nThe period of high house prices and low interest rates made us all feel pretty good - confident and willing to spend.
\\nThe correction is coming and it\'ll be a sharp one. Confidence is already a long way down and still falling.
\\nSo what\'s the message? My take is that we ain\'t seen nothing yet. The worst is yet to come.
\\nBatten down the hatches.
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