Quote of the day

I could write about the Crown accounts here being almost $1bn ahead of Treasury forecasts for the first 11 months of last fiscal year and how this means a surplus may have in fact been recorded. But outside of political circles where people look for attack points it is meaningless to your business. Only if the data get a lot lot better or a lot lot worse should we start thinking in terms of fiscal policy changes with growth implications. We are nowhere near that point yet and talk of easing fiscal policy to offset the loss of dairy income is just plain ridiculous. One wonders if the same people calling for it could be the same ones criticising the lack of fiscal surplus. How on earth to reconcile those two positions?Tony Alexander

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