If Treasurer Joe Hockey’s first budget was the Texas Chainsaw Massacre, the sequel seems from most media coverage to be more like On Golden Pond. Wealthy retirees were one of the few groups to take a hit, but you would suspect that losing a part pension is far less concerning than a big hit to superannuation concessions, the elephant that remains undisturbed in the corner, happily munching through billions in foregone tax revenue. Is superannuation going to be one of the very few contested areas of policy at the next election? Or will the Opposition bottle it? Paid parental leave was the only other major "bad news" story out of the budget, with a fairly large reversal from the original Abbott government view of PPL being a salary-related benefit to now a "one size fits all" welfare payment.
The media coverage was all over the place, with some claiming it was a ‘Labor lite’ budget, others praising it for having far better designed policy measures than last time, while some accused it of fiddling at the edges while fiscal Rome burns. All– all-in-all probably the expected mixed response, again, unlike last time.