The not so lucky country

Australian Treasurer Wayne Swan delivered a deficit budget and a plan that will take four years to return to surplus.

The Federal Government has taken a swipe at so-called middle-class welfare by abolishing the baby bonus in a deficit budget that delivers almost no traditional election-year sweeteners.

Instead Treasurer Wayne Swan says there will be “targeted, sustainable” cuts to bring the budget back into the black in four years’ time.

“We haven’t approached this budget in relation to opinion polls. We’re in this for the long run – the long-run reforms,” he said. . .

We were in Queensland last year. Closed shops and cafes with lots of empty tables pointed to a slowing economy.

Tomorrow’s Budget is expected to be much more optimistic though we should take no pleasure in signs that Australia is now the not so lucky country.

It’s still our major trading partner  and the source of most of our tourists. If people there aren’t feeling so well off they will be less willing to buy our produce and travel here.

2 Responses to The not so lucky country

  1. Neil says:

    You can expect a socialist party to run an economy down. Bob Hawke and Keating did ok in Australia but todays Labor guys have no ideas- big spending and then hitting the middle class in an election year. Gillard knows she is down and out and wants to leave Tony Abbot with little room to manouevre.
    Unfortunately most of our NZ taxpapers couldn’t tell the difference between debt and a surplus. A lot love the simple bribe and promise. That’s how those stupid Greens operate !!!
    Good to hear on RNZ that the IMF give the thumbs up to govt in the way it is running the economy. That probably will e in a patsy question on Question time today in the house.
    Look for a positive reaction to Bill’s budget tomorrow night. Not enough spending for the Lab/Greens.

  2. Armchair Critic says:

    Exactly Neil. Look at what that terrible socialist George Bush did to the USA.
    What are those migration figures looking like Ele? And looking back to about 2009, have we “caught up” with Australia yet?

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