How soon we forget! “One of the biggest giveaway budgets on record has failed to deliver an electoral bounce to the Coalition, although it was one of the best-received in 15 years,” Dennis Shanahan writes in The Australiantoday.

Thanks Den. The Budget was last week – but the week before that? The Wednesday? Remember back 13 days ago? What happened there? Riiiiiight! Interest rates went up.

Oddly, Shanahan and his colleague Matt Price seem to have forgotten about this in their interpretations of the latest Newspoll findings – the Coalition’s primary vote up just 1%, Labor’s up 2%, Kimbo’s approval up three points.

There may be a bit of chagrin out there in punterland. Voters may feel that the tax cuts will not offset the rate rise. Nor, indeed, the next one – the rate rise that was widely spoken about and priced into the markets within hours of the Treasurer’s speech.

Peter Fray

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