TREASURER Peter Gutwein is no exception. All state Treasurers, no matter what party affiliation, will perpetuate four myths when a budget or a budget update is released.
Myth number one is if the state economy grows so too will state government revenue.
The second myth is the budget forward estimates for the years beyond the current year can be reliably estimated.
Myth number three is the misplaced focus on the general government rather than the total state sector which includes government businesses.
The fourth myth is budget sustainability is best measured using a flawed profit figure.