Budget commentary... ...in the context of a $400 billion annual budget, the net impact of spending cuts and tax increases next financial year is only $1.7bn, rising to $5.9bn in 2015-16. Savings are meant to rise thereafter...(but) Deutsche Bank chief economist Adam Boyton has calculated that the Coalition would have had to tighten fiscal policy by $12.5bn and $20bn, respectively, to match the severity of Peter Costello’s first budget in 1996. Budgets of Harold Holt in the 1960s and Paul Keating in the 1980s were far tougher again... The government funds 263 million free GP and similar appointments each year under Medicare. It pays $32.70 or more for each visit. As the population ages, a point must come when the load has to be lightened.
Posted on: Fri, 16 May 2014 06:08:30 +0000
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