All right.
In your report entitled, Budget 2022: Issues for parliamentarians, you state, "…the private sector forecast of nominal GDP…has been revised up by $41 billion per year, on average, over 2021 to 2026, due almost entirely to higher GDP inflation in the near term."
I have two questions here.
What's your opinion on this upward revision? Is it optimistic, realistic or pessimistic?
In the medium term, if inflation lasts longer than anyone can predict, how will that affect the budget? What should we expect?