Whatever you might wish to call this budget (we toyed with “neoliberal-Keynesian”), this is a Liberal budget delivered with three clear goals in mind: ward off mass unemployment through private sector hiring; boost economic growth via broad-based tax cuts; get reelected in 18 months or so on the back of the first two.
It is a budget for and about big government. Four years out from now, government spending will still be a heroic 27% of GDP -- a remarkable figure to lay at the feet of a Coalition government.
As we have noted in Crikey many times, if such figures had emanated from Labor, certain sections of the media and the commentariat would have gone nuts. But these are extraordinary times.