Politics with Michelle Grattan: Josh Frydenberg ‘thinking about the budget’ over Christmas
Michelle Grattan speaks with Treasurer Josh Frydenberg about the mid-year budget update, his optimism about the economy and the election.
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Articles on MYEFO
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The dominant forces in the Coalition seem to have learnt their lesson: Australia’s economy still needs serious budget support.
The government budgets for the unannounced because it doesn’t want its projections to “blow out” during the campaign.This gives us an idea of how much, but not what, is in store.
Budget update shows the government has a big election war chest, and an optimist economic outlook
If you are aged 70 with a million dollar home you could get up to $308,000 per year from a little-known scheme with risks.
Politics with Michelle Grattan: Treasurer Josh Frydenberg on promising budget figures.
Michelle Grattan discusses MYEFO with Treasurer Josh Frydenberg.
The economic recovery is looking more and more V-shaped, the budget recovery will be much slower.
The federal government has announced A$850 million for 10,000 additional home-care packages, as part of $1 billion for aged care. Here’s why that’s not nearly enough.
The government will inject a further $1 billion into aged care, most of it for home care packages, in Thursday’s budget update.
He is trying to transition out of stage one while drawing up stage three.
I’d hoped to keep my absence nice and private, especially from those quiet Australians fighting fires. Regrettably, despite best efforts, my press office wasn’t able to keep a lid on the story.
Politics with Michelle Grattan: Mathias Cormann and Jim Chalmers on the mid-year budget update.
The Conversation, CC BY29.7 MB (download)
The figures indicate a worsening economy, but the government has sought to put a positive spin on the situation, saying the Australian economy is showing resilience.
MYEFO contains a long-overdue admission: that low wage growth is the new normal. It’ll take extraordinary spending restraint to make the surplus forecasts stick.
The treasurer has pulled out all stops to continue to forecast budget surpluses, but they are low, and don’t take account of several likely costs.
The projected surplus has been revised down from A$7.1 billion at budget time to $5 billion for this financial year.
With a budget surplus in sight, it makes no sense to cut funding from Australia’s research capacity.
When assessed by the government’s own rules, MYEFO fails. The government is spending the latest revenue windfall even though it promised not to.
The budget line known as “decisions taken but not yet announced” points to $9 billion of unannounced tax cuts.
The government is worried about a conference which is a highly managed affair where divisions are being contained and participants have their eyes firmly on the prize of Labor winning power next year.
History suggests the government will spend most of the extra $10 billion per year that the MYEFO will reveal on Monday. The only problem is, those riches won’t last.
Top contributors
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Professorial Fellow, University of Canberra
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Professor of Economics, UNSW Sydney
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Professor of Institutional Economics, RMIT University
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Professorial Fellow in the Department of Economics, The University of Melbourne
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Honorary Enterprise Professor, School of Population and Global Health, and Department of General Practice, The University of Melbourne
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Professor of Economics and National Senior Teaching Fellow, Griffith University
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Deputy Program Director, Grattan Institute
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Chief executive officer, Grattan Institute
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Industry Professor, University of Technology Sydney
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Professor, Department of Economics, The University of Melbourne
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Director and Professor, Australia-China Relations Institute (ACRI), University of Technology Sydney
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Professor, The University of Melbourne
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Professor, Monash University
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Professor of Economics, University of Sydney
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Lecturer, Department of Economics, Federation University Australia
