Sky News Australia | Real budget black holes loom The Australian SURPRISE post-election "budget black holes", in quotation marks, have been largely rendered an historical curiosity of the 1980s and 90s by Treasury's PEFO and, more generally, Peter Costello's Charter of Budget Honesty which created that mandatory ... Budget documents show $18.8 billion deficit in 2012/13 Final figures show last year's budget deficit $543m lower than expected Budget deficit of $18.8 billion |