Business columnist Terry McCrann says he does not see the budget ever getting to surplus, due to the amount of debt from the COVID-19 pandemic.

“Any prospect of tax reform, serious tax reform, real tax reform, was looking very dubious before we got into the COVID mess, before we blew the budget right over the cliff, before we headed for that trillion dollars of debt,” Mr McCrann told Sky News host Peta Credlin.

“And budget deficits basically for the rest of our lives; I don’t see the budget ever getting back to surplus even though we will continue to see the governments taking more and more tax revenues.

“So, the bottom line is it’s a good idea to talk about tax reform, it’s obviously urgent, it’s obviously fundamental … to building a successful future but unfortunately we’re not going to see it.”

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