Wednesday May 12, 2010
 
2010/11 Commonwealth Budget based on “heroic” mining assumptions

Leading industry analyst and economic forecaster, BIS Shrapnel, has questioned Treasury’s outlook for engineering construction in the 2010/11 Commonwealth Budget. The very strong Treasury forecast for private new engineering construction is a key driver of the forecast growth in business investment and economic growth in the Budget.
 
“At first glance, the private sector engineering construction forecasts contained in the Budget seem rather heroic,” says Adrian Hart, Senior Manager for BIS Shrapnel’s Infrastructure and Mining Unit. “This may have implications for the quality of forecasts in the Budget regarding economic growth and the pace by which the Budget can be brought back into surplus.”

Contact: Adrian Hart