Budget week in Canberra highlighted the economic constraints facing an Abbott government — and gave a hint that the Coalition may be Labor lite when it comes to future budgets. Crikey deputy editor Cathy Alexander talks with Canberra correspondent Bernard Keane.
READ MOREAbbott budget reply: mind the gap between rhetoric and reality
Tony Abbott’s budget reply speech suggests that, despite a “budget emergency”, a Coalition government’s fiscal policy would be broadly similar to Labor’s. His rhetoric is austere, but his promises are not.
READ MOREMorning Market Report
US year-on-year housing starts were down 16.5% to 853,000 — well below expectations of 985,000.
READ MOREThe rise and fall of UGL’s $26m man Richard Leupen
Engineering and mining contractor UGL has slashed its profit forecasts by 40% this week. But chief executive Richard Leupen remains in the chair long after his contract expired.
READ MOREA free kick for Abbott? Carbon accounting for Direct Action
A change to the way Australia’s emissions are accounted for could make it a lot easier for us to meet our 2020 emissions reduction target. It may prove to be a big gift to the Coalition.
READ MOREAbbott’s budget reply: yes, you can have substance without risk
This year has demonstrated that the Opposition can produce policy without too much risk. The budget reply is an opportunity to continue that.
READ MOREMorning Market Report
US industrial production was -0.5% in April, missing the forecast of +0.1%, with March’s gain revised down to 0.3%.
READ MOREDoom and gloom for Bloom: pressure mounts over snooping
JPMorgan continue to press Bloomberg on allegations of invasion of privacy. For many in the markets, the snooping scandal is a big worry — and the company has a work to do to restore its reputation.
READ MORESwan’s mixed legacy as an economic and fiscal manager
If Wayne Swan had had a couple more budgets like last night’s, he might have faced a different electoral fate.
READ MOREWhere does the economic power now lie: Canberra or Sydney?
The Reserve Bank’s surprise rate cut in May is likely to prove the most significant economic event of the year, not the budget. Glenn Dyer and Bernard Keane report.
READ MOREBroadcasting and arts: boost for ABC, SBS and Conversation
Crikey examines how media and culture organisations fared in this year’s budget. The ABC and SBS are smiling — and the ghost of Simon Crean lives on.
READ MOREClimate: sweeping cuts to programs — and more to come?
The budget has axed $2.4 billion from climate programs as the government compensates for a likely big drop in revenue from the carbon price from 2015. And there might be much bigger cuts to come next year.
READ MOREMorning Market Report
The budget is largely irrelevant, the story is that the prospect of a further fall in the A$ is seeing international equity investors sell to avoid the currency risk.
READ MOREForecasts: how wrong will Treasury get it this year?
Treasury always gets it wrong — but is the margin of error acceptable? History shows it has a variable record, and suggests what Wayne Swan’s deficit might end up being.
READ MOREWelfare and families: has Labor screwed over the poor?
The baby bonus is gone and the record of this Labor government robbing from the poor is a profoundly disappointing one. There wasn’t much for those struggling in the federal budget.
READ MOREBudget delivered on the wings of the dollar
A new-found conservatism in Treasury estimates means the economy could grow faster than expected, especially if the Australian dollar continues to fall. Former Labor economic adviser Stephen Koukoulas comments.
READ MOREInside the budget lock-up: pies and sneaky fags
What went down in the press gallery lock-up for the budget? Crikey joined the pack of journalists hungry for budget news — and party pies.
READ MOREBaby bonus dumping a ‘sensible, calm and responsible’ cut
The baby bonus has been thrown out with the bath water, as part of Treasurer Wayne Swan’s “sensible, calm and responsible” cuts.
READ MORECommunity broadcasting: no cash for digital radio stations
The digital community radio sector needed $1.4 million in funding from the federal budget, but all it got was radio silence.
READ MOREWhat the Treasurer said: Wayne Swan’s budget speech
A transcript of the speech Wayne Swan delivered to Parliament in handing down the 2013-14 federal budget.
READ MOREJournos jostle for air time at Swan’s press conference
Wayne Swan jostled with journalists at the traditional budget lock-up press conference. Crikey was there to see who asked what — and how the Treasurer hit back.
READ MORECommentary wrap: how the gallery is calling it
What do the political and economic analysts make of the 2013 federal budget? Crikey wraps the commentary from the websites and newspapers.
READ MOREPublic servants to be cramped and sacked in grim budget
The government is turning the screws on bureaucrats, reducing office space as part of savings measures in the 2013-14 federal budget.
READ MORESpace debris, a pot plant tax and bullet experts: budget quirks
At least the Treasurer is protecting Australia from UFOs. Crikey dug deep into the budget papers to find the detail you won’t read in the papers.
READ MOREBudget 2013-14 at a glance: the key numbers
Crikey looks at the key 2013-14 budget numbers: unemployment, GDP growth, inflation, the deficit and more…
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