Unpacking the Spring Economic Update

Deficit is $66.9 billion for 2025-2026 $11.5 billion lower than the November figure The deficit is expected to decline to around $53 billion by 2030-31. Servicing the federal debt continues to be a major expenditure, with costs expected to surge. After reaching $54 billion in the 2025–26 fiscal year, interest payments are projected to exceed $80 billion by 2030–31. $37.5 billion for new measures such as the previously announced groceries and essentials benefit $6 billion to address gap in skilled trades Guest: David Akin - Global News Chief Political Correspondent Learn more about your ad choices. Visit megaphone.fm/adchoices