The Pre-Election Economic and Fiscal Outlook reveals virtually nothing new compared to Labor's Economic Statement. Now it's over to the Coalition.
Labor has reached for the razor to keep its surplus promise, grabbing revenue from non-politically sensitive groups. The "economy in transition" mantra was strong in Chris Bowen's response.
The government has unveiled its pre-election mini-budget, aiming to raise revenue and cut spending to return to forecast by 2015-16. But it's going to be a painful journey.
The recovery from 2008 may not have in fact occurred, there is no real growth to speak of in the global economy.