Editor's note

If the government was really committed to budget repair it would be more realistic and conservative in its budget forecasts, the Grattan Institute argues.

There are more than a few examples of where Treasury forecasts have overestimated movements in Australia’s economy and the effect of policies. So it’s time to reduce the error margin.

And are you worried about how the changes to HELP student loans will affect you? Ittima Cherastidtham has written a helpful explainer so you know exactly what to expect.

Jenni Henderson

Editor, Business and Economy

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If wages just grow at the rate of the last 12 months, rather than at the higher growth in the budget forecasts, income tax collections will be A$7 billion less for 2019-20. Joel Carrett/AAP

Why biased budget forecasts make poor politics

John Daley, Grattan Institute; Danielle Wood, Grattan Institute

Wonky forecasts show it's time for a new approach that adopts more conservative forecasts, and makes a genuine commitment to budget repair.

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