Experts praise Swan's decision to forgo surplus

ECONOMISTS are relieved the Federal Government is abandoning its push for a surplus, labelling it a sensible, pragmatic and realistic decision.

For months, they have been concerned the Government's penny-pinching to keep the surplus dream alive had the potential to slow growth and jobs.

On Thursday, Treasurer Wayne Swan bowed to the inevitable and all but ditched his commitment to deliver a surplus this financial year.

The latest official figures from the Department of Finance show cash receipts for July to October are almost $4 billion less than forecast in the May budget.

"At this stage I don't think it would be responsible to cut harder or further in 2012-13 to fill a hole in the tax system if that puts jobs or growth at risk," Mr Swan said.

Read more at ABC news online.


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