Leading economists have expressed unease about a budget change that would allow the government to all but eliminate the deficit within two years while borrowing to help build projects including a rail link to Sydney’s second airport and a rail line from Melbourne to Brisbane.
The change, unveiled by Treasurer Scott Morrison on Thursday, will prioritise a measure known as “net operating balance”, which excludes borrowing for infrastructure, and is on track to fall from a deficit of $37.5 billion in 2016-17 to $1.3 billion in 2019-20.
Infrastructure will be a major feature of the May 9 budget, but it will only con…
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