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Story summary
- The budget posted a $6 billion deficit improvement, with $4.6 billion from higher tax receipts.
- Tax receipts rose to 24.1% of GDP, near the Howard-era record, driven by investment and super taxes.
- Analyst Chris Richardson said the budget’s structural deficit is 1.6% of GDP.
- Centre for Policy Development proposed temporary superannuation contribution increases to reduce demand more fairly than rate hikes.