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New estimates of the structural budget balance sit poorly with opposition claims about the Gillard government’s poor fiscal mismanagement. Turns out things might not be so bad after all …

What’s in for me? Today’s Essential Report finds a curious response from voters to last week’s budget — voters think they’ll be worse off from the budget, but want the government to do more to cut spending.

The Coalition’s sudden enthusiasm for spending cuts is rather hypocritical — but a welcome embrace of fiscal responsibility. Both major parties are lifting their game, improving the dire standards in political debate.

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.

If Wayne Swan had had a couple more budgets like last night’s, he might have faced a different electoral fate.

A key graph from the budget papers explains the challenge Wayne Swan has faced as Treasurer — one he has failed to address despite having the power to, writes Australia Institute executive director Richard Denniss.

Is the Treasurer serious when he says he wants to spend more, tax less and get the budget back into surplus as quickly as possible? Australia Institute executive director Richard Denniss investigates.

As in previous budgets, a huge chunk of Wayne Swan’s savings are actually tax rises or the closure of tax loopholes. He’s also targeted some relatively painless areas — big companies, public servants — for squeezing.

Treasurer Wayne Swan’s 2013-14 budget reflects his time as Treasurer: great economic outcomes, but delivered in a confused and incoherent way, writes Bernard Keane.

Wayne Swan’s sixth and likely final budget charts a path to surplus, but fails to take enough tough decisions to rein in spending, writes Bernard Keane.

Behind the apparent fiscal chaos, the government is doing what it always does before its federal budget — announcing the nasties beforehand. Will there be goodies on budget night?

Yesterday’s surprise rate cut is designed to address both the strong dollar and a domestic economy struggling as governments slash spending, say Crikey writers Glenn Dyer and Bernard Keane.

Big writedowns in revenues are a problem, but a slow path back to budget sustainability can be found by curbing big spending and tax items. Crikey’s political correspondent draws up his fantasy budget.