Treasury to release fiscal update today

A look at the government's books today will reveal how realistic the Government's aim of returning to surplus by 2014/15 actually is.

Treasury will release the Half Yearly Economic and Fiscal Update this afternoon.

All signs are the books will reveal a slowing down of the economy, with tax revenue down in the most recent financial updates.

That makes the all-important surplus target even further out of reach, but the government will stick to the goal of even a tiny surplus - that may mean further cuts to spending.

And Treasury's certainly moving with the times, people will be able to receive the financial update on their smartphones or tablets through an app, once the embargo is lifted at 12.30pm.

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