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The Sydney Morning Herald | FEDERAL|

Gillard and Abbott jump on the spending cuts bandwagon

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?

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Crikey Blogs | ECONOMY|

What if unemployment was as forecast?

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.

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Clumsy but ruthless — why Rudd is clearing the decks now

The Government is using a brief lull in the political cycle to junk everything that will get in the way of its re-election strategy. Maybe Caucus will have other ideas?

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New economic data: no damn good for a government trying to frame a Budget

New economic data suggests an economy marking time — not what the government needed to hear as it works out how heavily to slash expenditure in the Budget.

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Yes, we ARE out of the woods … now let’s focus on the Budget

Today’s GDP growth figure shows an economy moving from stimulus-supported growth to private-led growth, which frees up the Government to get back to managing a growing economy.

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We’re not out of the woods … yet

With the stimulus packages fading, it’s not at all clear that the economy is going to spring back to normal growth. Good luck framing the next budget.

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The Courier-Mail | QLD|

Queensland’s depression-era Budget

In one word: jobs. With its Budget, the Bligh government is doing nothing more than what governments the world over are having to do to keep their economies ticking over, says Craig Johnstone.

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Never mind ABC programs, feel our values

Managing Director of the ABC Mark Scott sent this email to ABC employees this morning…

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ABC staff hit by global financial crisis?

The ABC has withdrawn a 4% pay increase offer made to staff, citing a “dramatic change to economic conditions”, writes Margaret Simons.

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This year the cut and thrust of the Budget is for real

This will be the toughest budget to frame since, probably, the recession budgets of the early 1990s, writes Bernard Keane.

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Rudd’s stimulus package divides the pack

We’re in the middle of the most perverse economic debate in years, writes Bernard Keane.

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NSW Premier’s mini-budget is a mega-spin

Laughably, Premier Nathan Rees’s NSW Government is calling it a “mini-budget”, It’s more like a MEGA budget, writes Alex Mitchell.

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What was the RBA advice on guaranteeing deposits?

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.

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The reckless stimulus package we didn’t need

What on earth is the Rudd Government doing blowing $10 billion in largely unproductive welfare payments? asks Stephen Mayne.

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Costello’s appalling record on Indigenous spending

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.

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Time again for the debt truck?

The financial pages made for gloomy reading today and there’s one disturbing theme across the litany of bad news: excessive debt, writes Stephen Mayne.

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The spin starts here: a “fixing the roof” budget

Treasurer Wayne Swan says that tonight’s budget will be “unashamedly” about the “long-term”. Politicians talk “long-term” when the “short-term” looks ugly, writes Trevor Cook.

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Conflicted Keating’s retro-analysis does him no favours

Although he is a national living treasure, Paul Keating has done himself no good by weighing into the war between Premier Morris Iemma and the NSW Labor Party, writes Alex Mitchell.

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This razor gang might just be a cut above the rest

The warning that carers’ bonuses may be scrapped in the Budget is only the first of what are likely to be a number of razor slash stories between now and Budget night, writes Bernard Keane.

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John Winston Howard: The highlights

Howard biographer Wayne Errington lays out the highs and lows of a remarkable political career.

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Tax promise will have no impact on the November rate rise

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.

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Brent: Cut tax then wait six weeks

Handing down tax policy on day one of the campaign is a novel approach. What’s that about? Here’s one possible explanation, writes Peter Brent.

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Exposing the federal and state accounting rorts

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.

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Rates are up – you never had it so good

The Prime Minister and the Treasurer have told us this morning that interest rates simply had to rise because the economy is so good. Nice spin, writes Christian Kerr.

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Costello: Man of principle, gutless wonder

Sulkpot Petey Poo Nag-Nag is on firmer ground when he whinges about Howard’s record as treasurer.

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