Australians have grown accustomed to politicians with deep pockets, prepared to woo voters with their big-spending election promises. But in 2010 the latest fad is not to spend. This may be admirable, writes Jessica Irvine, but will good policy fall victim to fashion?
Back in the 2009/10 budget, Treasury forecast that unemployment in Australia would hit 8.25% around June 2010. Possum Comitatus charts that against what actually happened, showing two very different Australias.
The predictable consequence of the Government intervening in the financial market to guarantee loans and deposits – that those not afforded the same guarantee are competitively disadvantaged – didn’t take long to emerge, writes Bernard Keane.
Taxation revenue increases as economies grow. But similarly, Indigenous affairs budgets should increase in both real and percentage terms as government budgets grow. Under Costello, they shrunk, writes Chris Graham.
The expected interest rate hike in November will be the result of the tax cuts announced in the May Budget, together with other well documented issues that are adding to inflation, writes Stephen Koukoulas.
Peter Costello was back in the Parliament pushing the big lie yesterday – that the Commonwealth under John Howard “reduced its debt from $96 billion to zero”. In fact, they owe $50 billion, writes Stephen Mayne.