Federal Treasurer, Dr Jim Chalmers, has announced a budget surplus, but, in spite of reports, it’s not the first time in 15 years. Plenty of governments over that period have announced budget surpluses, says our regular economics commentator, University of Melbourne Professor Neville Norman, but few have actually delivered one. Is this budget going to worsen inflation? Will interest rate increases pause and will Australia avoid a recession? Prof. Norman addresses all these issues and more, as well as explaining how Dr Chalmers’ Ph.D. might just prove to be helpful.