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Sky News Political Editor Andrew Clennell says Josh Frydenberg had predictions of a spot price for iron ore of $US55, and we saw it hit $230.
“The current iron ore spot price is $94 a tonne, not 55, and the current thermal coal price is the US $387, not $114 or $100 a barrel. And so on,” Mr Clennell said.
“So, things are well ahead of budget forecasts – couldn’t that remain the case in the rest of the forward estimates?
“I guess the biggest dangers to them are interest rates continuing to go up to tackle inflation.”
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