Australians hoping to see their wages grow noticeably in real terms will have to wait longer than expected, with the federal government's budget update showing higher-than-forecast inflation savaging the benefits of higher pay.
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The Mid-Year Economic and Fiscal Outlook (MYEFO) shows an extra $64.4 billion flowing to government coffers in the next four years but that likely won't be seen in household budgets in the next year.
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