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Commodities won't help budget, Cormann

AAP logoAAP 17/12/2016

Finance Minister Mathias Cormann has suggested the mid-year budget review will show a deterioration in the bottom line since May as revenues from a surge in Australia's key commodity prices won't be enough to offset a decline in tax receipts.

"The recent increases in commodity prices are not enough to offset the effect of low wage inflation, and in particularly income tax receipts, and the low growth in company profits generally," Senator Cormann told Sky News Sunday.

Senator Cormann and Treasurer Scott Morrison will hand down the budget update on Monday.

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