Fed: Budget in surplus by $1.84 b by end of Oct - Minchin

AAP General News (Australia)
12-08-2003
Fed: Budget in surplus by $1.84 b by end of Oct - Minchin

New figures show the federal Budget was running a cash surplus of $1.84 billion by
the end of October, four months into the financial year.

Finance Minister NICK MINCHIN says the turnaround from a deficit of $4.24 billion the
month before has been largely driven by the payment of large lump-sum dividends from Telstra
and Australia Post.

He says there were also high tax revenues from the lodging of Business Activity Statements,
offset by higher welfare and education costs.

The fiscal balance to October the 31st was $8.35 billion.

AAP RTV kmh/gjr/rp

KEYWORD: BUDGET OCTOBER (CANBERRA)

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