Initially I thought I would give readers of this blog a summary of what Budget measures were announced in last night’s 2015 Federal Budget, but every news website and newspapers do that adequately so this is about my opinion on the budget.
There are some good things in the Budget: stimulating small business is always a positive for example.
I don’t understand where the economic apocalypse has gone. Just 12 months ago Joe Hockey was telling the nation that the “Age of Entitlement” was over. He articulately told us that the nation was living beyond it’s means and that unless there was some tough economic medicine handed out then we were going to cripple future generations with debt. We all cried at the thought of the children….not the children crippled with debt.
But the Economic Apocalypse has been replaced by an Electorate Apocalypse and so the Federal Budget is a political document not an economic one. It is aimed at electoral repair more than fiscal repair, which in light of the Reserve Bank of Australia’s easing of interest rates to record lows, should concern every Australian. Our economy is in trouble and this budget is about buying votes and screwing those who don’t vote: which is a reference to the reduction in Foreign Aid by $1 billion dollars. (We are currently the 12th largest economy in the world and should be doing our bit in terms of helping the poor, oppressed and vulnerable in our world).
Clearly this is a budget that is setting the electorate up for an election this year.