Employment sector to offset coal gains
21 Nov 2016
For those people expecting an improved budget bottom line as a result of the surge in coal prices in recent months, prepare to be disappointed when Treasurer Scott Morrison hands down his mid-year review in December.
Budget watcher and economist Chris Richardson says while coal spot prices have touched $US300 per tonne and may be good for the budget, 'much else isn't'.
Treasury had assumed a coking coal price of just $91 per tonne in the May budget.
'The good news on coal is only an offset to even worse news on wages,' the Deloitte Access Economics economist says in a new report released on Monday.
SOurce:SKyNews.com