Australia - Turn on Sky News right now and hear Chris Richardson - TopicsExpress

Australia - Turn on Sky News right now and hear Chris Richardson from Access Economics talk about our budgetary problems. Bulk of commodity price falls are more permanent than temporary (e.g. coal and iron ore). So with changes in permanent revenue, we need to be making changes to the permanent spending promises that have been made. On the effect of the budget cuts announced in the Coaltion budget, they only amounted to $2B in this year and $6B next year, but are minuscule in a $1.6B economy. Baby steps meaning we will have to make much larger cuts that what weve seen so far.

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