Sky News contributor Nicholas Reece says the federal Liberals and Nationals have promised “eight surpluses and then delivered eight deficits”.

“You would think the Morrison Government would be adopting a prudent approach to budgeting,” Mr Reece said.

“But instead, Treasurer Frydenberg used the announcement of a record deficit to open the door to income tax cuts.

“Rather than playing Santa Claus, the Treasurer should have been talking about a responsible plan to erode those deficits and pay back the debt.”

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