Things not been this bad since global crisis, says Treasury head

By Peter Martin
Updated February 15 2013 - 7:13am, first published 6:23am
Martin Parkinson said he will be able to produce a final figure for the cash balance before the election.
Martin Parkinson said he will be able to produce a final figure for the cash balance before the election.

A PROFITS squeeze of historic proportions lies behind the government's deteriorating budget position, according to the federal Treasury, which says things have not been as bad since the global financial crisis.

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