Jul 9, 2026 – 7.23pmThe head of the Parliamentary Budget Office has issued a rare public criticism of the approach governments take to producing the budget, saying it creates a bias for optimistic fiscal projections and has the potential to obstruct good policy development.The PBO is an independent budget watchdog that parliamentarians use to cost their policies. PBO chief Sam Reinhardt, who normally remains behind the scenes, also took aim at the simplistic way media organisations divide groups into “winners and losers” after the budget is released.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
PBO chief warns on government ‘optimism bias’ and budget transparency
Independent fiscal watchdog highlights the tactics governments use to make their budgets look better than they are, and says this masks the true state of affairs.
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