Treasury secretary John Fraser will appear before a Senate estimates committee, where he is expected to elaborate on his recent warning about the federal budget. Fraser cautioned cabinet earlier this month that if the government's spending cuts remain stalled in the Senate, the budget may never return to surplus.
Fraser and Reserve Bank governor Glenn Stevens took the unusual step of briefing cabinet on the February 3 official cash rate cut. The Treasury head reportedly highlighted the risks of the budget failing to achieve surplus if the proposed spending cuts are not passed by parliament.
Fraser, who succeeded Martin Parkinson in January, is not entirely new to the Senate estimates process. He previously served as deputy Treasury secretary more than 20 years ago under treasurer Paul Keating, before moving to the private sector where he became chairman of UBS Global Asset Management.
