(from the article)...“Remember all the times shadow treasurer Joe Hockey furrowed his brow, shook his jowls and growled that Australia had a budget crisis? Turns out he was only joking. Either that or his “costings” disclosure is a joke. Or both. After all the huffing and puffing, Hockeynomics is only proposing a $6 billion improvement in the budget’s cash bottom line over four years. In light of the past four years of hyperbolic fiscal posturing, this is genuinely astounding. Even if you take year three and four budget projections seriously (and you really can’t, as everyone should now know), that works out to be an average improvement of $1.5 billion a year on a $400 billion budget – all of 0.375 per cent. It’s not even a rounding error. A half-decent Queensland storm can blow that away in half an hour. What we’ve been promised during this miserable election campaign is actually no improvement at all, just slightly different priorities – more entitlements for some new car buyers, maternity leave takers and the makers of Cadbury’s chocolates, fewer entitlements for the parents of school children, “clean energy” proponents and small businesses.”
Posted on: Thu, 05 Sep 2013 05:52:10 +0000
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