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Myefo: Scott Morrison reveals budget deficit to blow out by $26bn over four years – politics live Myefo: Scott Morrison reveals budget deficit to blow out by $26bn over four years – politics live
(8 days later)
6.41am GMT06:41 5.41pm AEST06:41
Good night, Merry Christmas, and don't eat all the prawnsGood night, Merry Christmas, and don't eat all the prawns
That’s all folks. It really is goodbye from Politics Live now for 2015.That’s all folks. It really is goodbye from Politics Live now for 2015.
Let’s wrap the main points of MYEFO, apart from my take home analysis, which I shared by reader request in the last post.Let’s wrap the main points of MYEFO, apart from my take home analysis, which I shared by reader request in the last post.
[Politics Live theme music, roll credits.][Politics Live theme music, roll credits.]
Here are the known knowns.Here are the known knowns.
Thank you all for your support and your brick bats throughout 2015. I appreciate both – although some days I probably appreciate the support more than the brickbats if I’m completely honest.Thank you all for your support and your brick bats throughout 2015. I appreciate both – although some days I probably appreciate the support more than the brickbats if I’m completely honest.
Thanks to my colleagues, who fuel the blog when I can’t manage another word – and to Gabi and Mike, my partners in live blogue crimes against the Guardian Australia readership and politicians of all stripes.Thanks to my colleagues, who fuel the blog when I can’t manage another word – and to Gabi and Mike, my partners in live blogue crimes against the Guardian Australia readership and politicians of all stripes.
See you in February.See you in February.
6.29am GMT06:29 5.29pm AEST06:29
As you asked, the objective lesson of MYEFOAs you asked, the objective lesson of MYEFO
Some readers have asked me what is the objective lesson of the day given I didn’t buy Bill Shorten’s lesson of the day: that this MYEFO contained harsher cuts than Tony Abbott and Joe Hockey’s handiwork.Some readers have asked me what is the objective lesson of the day given I didn’t buy Bill Shorten’s lesson of the day: that this MYEFO contained harsher cuts than Tony Abbott and Joe Hockey’s handiwork.
The objective lesson of the day in my mind is pretty simple.The objective lesson of the day in my mind is pretty simple.
Fixing the budget will be a tough task. It will require raising additional revenue (whatever Scott Morrison might say), as well as ensuring efficiency in government expenditures. It will certainly require a more comprehensive approach than building in quickie paper savings from welfare crackdowns (that may or may not eventuate), or chasing savings in health that you pretend won’t hit the consumer when, self evidently, they will hit the consumer.Fixing the budget will be a tough task. It will require raising additional revenue (whatever Scott Morrison might say), as well as ensuring efficiency in government expenditures. It will certainly require a more comprehensive approach than building in quickie paper savings from welfare crackdowns (that may or may not eventuate), or chasing savings in health that you pretend won’t hit the consumer when, self evidently, they will hit the consumer.
This budget update has the distinct sound of desperate chasing of rats and mice in the hope that the budget trend will look vaguely credible. Sorry, it still doesn’t look credible. Much more work to do.This budget update has the distinct sound of desperate chasing of rats and mice in the hope that the budget trend will look vaguely credible. Sorry, it still doesn’t look credible. Much more work to do.
Not only substantial policy work, also framing work. The government is trying to move past the mess of Tony Abbott and Joe Hockey, who came into government with thunderous over statements about the perilous state of the books, while peddling the fantasy the budget could be fixed without pain. But if the reboot is just folksy analogies about back seat drivers getting angsty about budget strategy – that ain’t going to cut it. Australians comprehensively rejected the agenda laid out in the 2014 budget, and the vehemence of the rejection has forced the government to go back to first principles at a time when it needs to be making a case for re-election.Not only substantial policy work, also framing work. The government is trying to move past the mess of Tony Abbott and Joe Hockey, who came into government with thunderous over statements about the perilous state of the books, while peddling the fantasy the budget could be fixed without pain. But if the reboot is just folksy analogies about back seat drivers getting angsty about budget strategy – that ain’t going to cut it. Australians comprehensively rejected the agenda laid out in the 2014 budget, and the vehemence of the rejection has forced the government to go back to first principles at a time when it needs to be making a case for re-election.
So what’s the summary?So what’s the summary?
The objective lesson of MYEFO is it’s about time the political conversation about fiscal sustainability and economic reform got serious, because we’ve about had it with the quick fixes and sugar hits and the nasty surprises that appear random because they are random.The objective lesson of MYEFO is it’s about time the political conversation about fiscal sustainability and economic reform got serious, because we’ve about had it with the quick fixes and sugar hits and the nasty surprises that appear random because they are random.
The objective lesson of MYEFO is the government – in budget terms and reform terms – has blown its first two years in government. Whether it blows a third remains to be seen.The objective lesson of MYEFO is the government – in budget terms and reform terms – has blown its first two years in government. Whether it blows a third remains to be seen.
5.51am GMT05:51 4.51pm AEST05:51
How could I have missed the capping of the green army?How could I have missed the capping of the green army?
The government will achieve savings by capping the number of green army projects at 500 per annum.The government will achieve savings by capping the number of green army projects at 500 per annum.
Saving? $317.5m.Saving? $317.5m.
The environment minister Greg Hunt will be very sad but pretending he is perfectly happy because that’s his form.The environment minister Greg Hunt will be very sad but pretending he is perfectly happy because that’s his form.
5.48am GMT05:48 4.48pm AEST05:48
Slight walk back in progressSlight walk back in progress
We’ve had a few iterations today about the impact of the MYEFO health savings on people. Mathias Cormann said, rather uniquely, earlier on today that the changes to bulk billing incentives was not expected to have an impact on people.We’ve had a few iterations today about the impact of the MYEFO health savings on people. Mathias Cormann said, rather uniquely, earlier on today that the changes to bulk billing incentives was not expected to have an impact on people.
Health minister Sussan Ley isn’t quite going that far. This is her formulation.Health minister Sussan Ley isn’t quite going that far. This is her formulation.
We do not expect the changes to affect the majority of consumers due to the high level of competition in the sector, and will ensure some of these services are better aligned with other medical and health providers, such as GPs.We do not expect the changes to affect the majority of consumers due to the high level of competition in the sector, and will ensure some of these services are better aligned with other medical and health providers, such as GPs.
It’s also important to note bulk billing incentives are paid direct to the pathology or diagnostic provider, not the patient. Patients with high out-of-pocket medical costs will also continue to be covered by the Medicare Safety Net protections.It’s also important to note bulk billing incentives are paid direct to the pathology or diagnostic provider, not the patient. Patients with high out-of-pocket medical costs will also continue to be covered by the Medicare Safety Net protections.
5.39am GMT05:39 4.39pm AEST05:39
Agility, anyone?Agility, anyone?
5.32am GMT05:32 4.32pm AEST05:32
Communications minister Mitch Fifield.Communications minister Mitch Fifield.
The government has announced it will not proceed with the Book Council of Australia. This decision is reflected in the mid-year economic and fiscal outlook. I will be consulting widely with the literary community about alternative sector-led mechanisms for representation and promotion. I thank those who had indicated their willingness to serve on the council, particularly Louise Adler AM, who had agreed to be chair, and the many people who have generously shared their views on Australian writing and reading.The government has announced it will not proceed with the Book Council of Australia. This decision is reflected in the mid-year economic and fiscal outlook. I will be consulting widely with the literary community about alternative sector-led mechanisms for representation and promotion. I thank those who had indicated their willingness to serve on the council, particularly Louise Adler AM, who had agreed to be chair, and the many people who have generously shared their views on Australian writing and reading.
5.29am GMT05:29 4.29pm AEST05:29
This comparison isn’t like for like but it is illustrative. Just one little cameo from the arts portfolio.This comparison isn’t like for like but it is illustrative. Just one little cameo from the arts portfolio.
Readers might remember earlier this year the government announced it would kick in $47.3m for two Hollywood blockbusters – Alien: Covenant and Thor: Ragnarok. There was much excitements and if memory serves, Ridley Scott beamed in from somewhere or other to be thrilled.Readers might remember earlier this year the government announced it would kick in $47.3m for two Hollywood blockbusters – Alien: Covenant and Thor: Ragnarok. There was much excitements and if memory serves, Ridley Scott beamed in from somewhere or other to be thrilled.
But today the government pulled $52.5m from the communications and arts portfolio. The savings include imposing a 3% efficiency target on cultural and collecting agencies (reaping $36.8m), pulling back $9.6m from arts programs, including ending the Book Council of Australia, and pulling $6m from the department.But today the government pulled $52.5m from the communications and arts portfolio. The savings include imposing a 3% efficiency target on cultural and collecting agencies (reaping $36.8m), pulling back $9.6m from arts programs, including ending the Book Council of Australia, and pulling $6m from the department.
As was once sung in a popular musical, nothing comes from nothing, everything has got a little price.As was once sung in a popular musical, nothing comes from nothing, everything has got a little price.
5.14am GMT05:14 4.14pm AEST05:14
Be alert, not alarmed 2.0Be alert, not alarmed 2.0
I’m still working carefully through the fine print. Despite all the belt tightening, the government has found $10m for a national security awareness campaign for this financial year.I’m still working carefully through the fine print. Despite all the belt tightening, the government has found $10m for a national security awareness campaign for this financial year.
The campaign is designed to encourage the public to report suspicious activity to the national security hotline and will use television, radio, print, outdoor and online media.The campaign is designed to encourage the public to report suspicious activity to the national security hotline and will use television, radio, print, outdoor and online media.
5.03am GMT05:03 4.03pm AEST05:03
Co-payment by stealthCo-payment by stealth
Shalailah MedhoraShalailah Medhora
The Australian Medical Association has slammed the decision to reduce incentives for bulk-billing pathology and diagnostic services, saying the measure made up part of the now defunct GP co-payment proposal.The Australian Medical Association has slammed the decision to reduce incentives for bulk-billing pathology and diagnostic services, saying the measure made up part of the now defunct GP co-payment proposal.
“Despite Tony Abbott saying that the measures are dead, buried and cremated, it appears that the hand of the co-payment component is reaching out beyond the grave,” the AMA president, Brian Owler, told Guardian Australia.“Despite Tony Abbott saying that the measures are dead, buried and cremated, it appears that the hand of the co-payment component is reaching out beyond the grave,” the AMA president, Brian Owler, told Guardian Australia.
Reviving the measures “came out of the blue”, Owler said, adding that the health minister, Sussan Ley, had not flagged the policy with the AMA or with pathology and diagnostics experts. The Myefo announcement “makes a mockery” of Ley’s clinician-led Medicare review, he said.Reviving the measures “came out of the blue”, Owler said, adding that the health minister, Sussan Ley, had not flagged the policy with the AMA or with pathology and diagnostics experts. The Myefo announcement “makes a mockery” of Ley’s clinician-led Medicare review, he said.
Cutting bulk-billing incentives “creates a false economy”, as it often shifts costs in the health system from primary care to the much more expensive public hospital system, Owler warned. “A significant proportion of the population will not proceed with medical tests,” he said. “That could be very dangerous for the patient.”Cutting bulk-billing incentives “creates a false economy”, as it often shifts costs in the health system from primary care to the much more expensive public hospital system, Owler warned. “A significant proportion of the population will not proceed with medical tests,” he said. “That could be very dangerous for the patient.”
Updated at 5.25am GMT Updated at 4.25pm AEST
4.38am GMT04:38 3.38pm AEST04:38
Now some key social services savings measures:Now some key social services savings measures:
Updated at 5.28am GMT Updated at 4.28pm AEST
4.10am GMT04:10 3.10pm AEST04:10
While I chase welfare, another chart from Nick Evershed.While I chase welfare, another chart from Nick Evershed.
4.08am GMT04:08 3.08pm AEST04:08
Further and betters on the health measuresFurther and betters on the health measures
It’s worth outlining the health-related measures in a degree of detail.It’s worth outlining the health-related measures in a degree of detail.
Some of these measures are quite specific and others are quite vague. Speaking of vague, I’ll look at welfare next.Some of these measures are quite specific and others are quite vague. Speaking of vague, I’ll look at welfare next.
Updated at 4.25am GMT Updated at 3.25pm AEST
3.51am GMT03:51 2.51pm AEST03:51
Bill ShortenBill Shorten
The lesson of today’s Myefo statement is that Malcolm Turnbull and Scott Morrison are proposing cuts which are harsher than those of Tony Abbott and Joe Hockey.The lesson of today’s Myefo statement is that Malcolm Turnbull and Scott Morrison are proposing cuts which are harsher than those of Tony Abbott and Joe Hockey.
(Objectively, no, that is not the lesson of today.)(Objectively, no, that is not the lesson of today.)
Updated at 4.25am GMT Updated at 3.25pm AEST
3.49am GMT03:49 2.49pm AEST03:49
Chris Bowen, warming to the theme of let’s have an Myefo analogy-off.Chris Bowen, warming to the theme of let’s have an Myefo analogy-off.
Of course, the biggest save is increase compliance when it comes to social welfare. Well, of course, Scott Morrison is a one-trick pony. We have heard it all before. When it comes to finding savings, he’s got one trick and he rolls it out every time. And that is increase compliance when it comes to social security.Of course, the biggest save is increase compliance when it comes to social welfare. Well, of course, Scott Morrison is a one-trick pony. We have heard it all before. When it comes to finding savings, he’s got one trick and he rolls it out every time. And that is increase compliance when it comes to social security.
Well, Scott Morrison can talk up a storm, but he delivers a light shower.Well, Scott Morrison can talk up a storm, but he delivers a light shower.
Updated at 4.26am GMT Updated at 3.26pm AEST
3.45am GMT03:45 2.45pm AEST03:45
The Labor leader, Bill Shorten, is holding a press conference in Sydney. He’s unhappy about the cuts.The Labor leader, Bill Shorten, is holding a press conference in Sydney. He’s unhappy about the cuts.
Instead of looking at multinational taxation, or superannuation tax concessions, the Liberals are at it again. They are proposing the harshest cuts to the people least able to protect themselves.Instead of looking at multinational taxation, or superannuation tax concessions, the Liberals are at it again. They are proposing the harshest cuts to the people least able to protect themselves.
The shadow treasurer, Chris Bowen, wonders what is the point of the Turnbull government.The shadow treasurer, Chris Bowen, wonders what is the point of the Turnbull government.
Today’s midyear economic update is a report card on the progress of the Liberal government in meeting their promises when it comes to the economy. And the report card is a great big failure.Today’s midyear economic update is a report card on the progress of the Liberal government in meeting their promises when it comes to the economy. And the report card is a great big failure.
We know that according to the government’s own figures, we face a future of higher deficits and lower growth. What we are seeing is two years of economic and budget mismanagement by the Liberal government.We know that according to the government’s own figures, we face a future of higher deficits and lower growth. What we are seeing is two years of economic and budget mismanagement by the Liberal government.
Now, deficit reduction and returning to surplus was at the heart of this Liberal government, and it begs the question: if they have no plan to return to balance, what is the point of the Turnbull government?Now, deficit reduction and returning to surplus was at the heart of this Liberal government, and it begs the question: if they have no plan to return to balance, what is the point of the Turnbull government?
Updated at 4.30am GMT Updated at 3.30pm AEST
3.36am GMT03:36 2.36pm AEST03:36
Introducing a new price for pathology will not help improve primary care services and will discourage early diagnosis: Consumers Health ForumIntroducing a new price for pathology will not help improve primary care services and will discourage early diagnosis: Consumers Health Forum
The first run reaction to the pathology savings measure seems to confirm my first run reasoning – how do patients not face higher out-of-pocket costs as a consequence of this?The first run reaction to the pathology savings measure seems to confirm my first run reasoning – how do patients not face higher out-of-pocket costs as a consequence of this?
The Consumers Health Forum says the measure raises the prospect of a fresh cost barrier that could dissuade patients from undergoing important tests.The Consumers Health Forum says the measure raises the prospect of a fresh cost barrier that could dissuade patients from undergoing important tests.
Consumers Health Forum chief, Leanne Wells.Consumers Health Forum chief, Leanne Wells.
Many patients requiring pathology tests would face out-of-pocket costs for the first time under these budget measures, if pathology practices fail to absorb the impact of reduced Medicare benefit payments. Pathology tests for the most part have not attracted any out-of-pocket charges in the past.Many patients requiring pathology tests would face out-of-pocket costs for the first time under these budget measures, if pathology practices fail to absorb the impact of reduced Medicare benefit payments. Pathology tests for the most part have not attracted any out-of-pocket charges in the past.
The government’s saving measure however poses a new hurdle in the way of patients whose GP has referred them for what could well be a significant test. CHF appreciates the very difficult challenges faced by the government in the latest economic forecasts, but we need to keep the impacts on the health budget to a minimum.The government’s saving measure however poses a new hurdle in the way of patients whose GP has referred them for what could well be a significant test. CHF appreciates the very difficult challenges faced by the government in the latest economic forecasts, but we need to keep the impacts on the health budget to a minimum.
Australia needs to be strengthening its primary care services, as shown in a recent international survey and as canvassed widely by the government’s Primary Health Care Advisory Group’s recent consultations on how we can better respond to people with complex and chronic conditions.Australia needs to be strengthening its primary care services, as shown in a recent international survey and as canvassed widely by the government’s Primary Health Care Advisory Group’s recent consultations on how we can better respond to people with complex and chronic conditions.
Introducing a new price for pathology will not help improve primary care services and will discourage early diagnosis. Worryingly the government will extract another $1bn in cuts over four years from aged care and health workforce funding when so many services are already stretched.Introducing a new price for pathology will not help improve primary care services and will discourage early diagnosis. Worryingly the government will extract another $1bn in cuts over four years from aged care and health workforce funding when so many services are already stretched.
Updated at 5.17am GMT Updated at 4.17pm AEST
3.30am GMT03:30 2.30pm AEST03:30
My colleague Nick Evershed is head down working up charts, bless him. Down, down, projections are down.My colleague Nick Evershed is head down working up charts, bless him. Down, down, projections are down.
3.22am GMT03:22 2.22pm AEST03:22
While I’m delving, the finance minister is continuing to insist the removal of bulk billing incentives in both pathology and in medical imaging scans won’t hit patients. I’ll be interested to hear what the Australian Medical Association has to say about this, because on the face of it, if you remove a bulk billing incentive there will be more out of pocket costs faced by patients.While I’m delving, the finance minister is continuing to insist the removal of bulk billing incentives in both pathology and in medical imaging scans won’t hit patients. I’ll be interested to hear what the Australian Medical Association has to say about this, because on the face of it, if you remove a bulk billing incentive there will be more out of pocket costs faced by patients.
Cormann has just told the ABC there shouldn’t be any impact on patients in need of the sort of support that is provided as a result of bulk billing incentive payments.Cormann has just told the ABC there shouldn’t be any impact on patients in need of the sort of support that is provided as a result of bulk billing incentive payments.
He adds:He adds:
Incidentally, the $650m saving helps us to pay for the $621m in additional expenditure that we’ll be incurring in relation to various drugs in the context of cancer treatments that have been listed on the Pharmaceutical Benefits Scheme. So the money has been redirected within the health system.Incidentally, the $650m saving helps us to pay for the $621m in additional expenditure that we’ll be incurring in relation to various drugs in the context of cancer treatments that have been listed on the Pharmaceutical Benefits Scheme. So the money has been redirected within the health system.
Updated at 3.23am GMT Updated at 2.23pm AEST
3.16am GMT03:16 2.16pm AEST03:16
During my live coverage of the press coverage I referenced a measure about the China FTA which I wasn’t across and did not want to garble.During my live coverage of the press coverage I referenced a measure about the China FTA which I wasn’t across and did not want to garble.
Having consulted the Myefo tome, essentially the government is estimating it will lose $4.2bn in revenue from tariffs over the forward estimates courtesy of signing the free trade deal with China. According to the explanation, the government had already accounted for the cost to revenue (presumably in the contingency reserve) but now there was full accounting.Having consulted the Myefo tome, essentially the government is estimating it will lose $4.2bn in revenue from tariffs over the forward estimates courtesy of signing the free trade deal with China. According to the explanation, the government had already accounted for the cost to revenue (presumably in the contingency reserve) but now there was full accounting.
From the measure description.From the measure description.
Going forward the government has decided not to offset the revenue impacts of free trade agreements. This decision has been taken because the government believes there should not be domestic tax increases or reductions in domestic spending to offset the revenue impact of free trade agreements that provide benefits to Australian business and consumers.Going forward the government has decided not to offset the revenue impacts of free trade agreements. This decision has been taken because the government believes there should not be domestic tax increases or reductions in domestic spending to offset the revenue impact of free trade agreements that provide benefits to Australian business and consumers.
Updated at 3.22am GMT Updated at 2.22pm AEST
3.03am GMT03:03 2.03pm AEST03:03
Just while I’m delving, my colleague Lenore Taylor has filed some commentary. She makes the excellent point that the government’s “let’s get serious about budget repair” timetable is about to collide into the political cycle – an election year.Just while I’m delving, my colleague Lenore Taylor has filed some commentary. She makes the excellent point that the government’s “let’s get serious about budget repair” timetable is about to collide into the political cycle – an election year.
Here’s Lenore:Here’s Lenore:
Even taking into account treasurer Scott Morrison’s slightly tortured holiday road trip metaphor to explain the patient road back to surplus (the careful route of restraining expenditure and trying to boost growth, rather than the potentially destructive shortcut of slashing spending – and voters should not get impatient and start asking ‘Are we there yet?’ from the back seat) the government knows it has to explain how it will speed things up in the budget next May and its pre-election manifesto.Even taking into account treasurer Scott Morrison’s slightly tortured holiday road trip metaphor to explain the patient road back to surplus (the careful route of restraining expenditure and trying to boost growth, rather than the potentially destructive shortcut of slashing spending – and voters should not get impatient and start asking ‘Are we there yet?’ from the back seat) the government knows it has to explain how it will speed things up in the budget next May and its pre-election manifesto.
But Tony Abbott already did a pre-election budget last May, a desperate attempt to climb out from underneath the political disaster of his first budget and get ready for a possible national-security focused election early next year.But Tony Abbott already did a pre-election budget last May, a desperate attempt to climb out from underneath the political disaster of his first budget and get ready for a possible national-security focused election early next year.
The good news for Turnbull is that the change of prime ministership has given the Coalition the political capital to spend.The good news for Turnbull is that the change of prime ministership has given the Coalition the political capital to spend.
The latest Newspoll shows the Coalition ahead 53% to 47% on two-party-preferred terms and Turnbull the preferred prime minister of 60% of the nation.The latest Newspoll shows the Coalition ahead 53% to 47% on two-party-preferred terms and Turnbull the preferred prime minister of 60% of the nation.
His big judgment now is how to balance those political numbers against the worsening economic ones in the budget.His big judgment now is how to balance those political numbers against the worsening economic ones in the budget.
Updated at 3.12am GMT Updated at 2.12pm AEST
2.56am GMT02:56 1.56pm AEST02:56
The press conference is over now. Give me a minute to burrow and I’ll be back with further and betters.The press conference is over now. Give me a minute to burrow and I’ll be back with further and betters.
2.50am GMT02:50 1.50pm AEST02:50
Lots of fun times under way about the car, I see.Lots of fun times under way about the car, I see.
@LightheartedDan @stilgherrian @murpharoo I think Scott might be hoping Australia just stops asking and falls asleep pic.twitter.com/l8ZQLr0GuY@LightheartedDan @stilgherrian @murpharoo I think Scott might be hoping Australia just stops asking and falls asleep pic.twitter.com/l8ZQLr0GuY
Updated at 3.13am GMT Updated at 2.13pm AEST
2.48am GMT02:48 1.48pm AEST02:48
Peering into Scott Morrison's back seat. Yes, we need to.Peering into Scott Morrison's back seat. Yes, we need to.
More Morrison, and the back seats of cars.More Morrison, and the back seats of cars.
We need to look at this carefully.We need to look at this carefully.
I’m pleased that this year’s budget position as forecast will be better than last year and better the year after that. That shows we are making progress towards our destination. We are not there yet but we are not going to take detours or shortcuts. We are not going to put the safety of the passengers at risk.I’m pleased that this year’s budget position as forecast will be better than last year and better the year after that. That shows we are making progress towards our destination. We are not there yet but we are not going to take detours or shortcuts. We are not going to put the safety of the passengers at risk.
Those passengers are growth and jobs of Australians. That’s why we will remain very focused on this workmanlike approach to delivering on this task. That’s what Australians expect of the government. They don’t think there is any magic solution to this. They don’t think there is one save or tax that will solve this problem because their situations are just as complex and they don’t see simple answers to the things they face.Those passengers are growth and jobs of Australians. That’s why we will remain very focused on this workmanlike approach to delivering on this task. That’s what Australians expect of the government. They don’t think there is any magic solution to this. They don’t think there is one save or tax that will solve this problem because their situations are just as complex and they don’t see simple answers to the things they face.
With the Australian people, we are very much on the same page. I don’t think they would like to see more extreme positions adopted in how we deal with this issue. They would very much appreciate the very patient approach we are taking to this because that is what, at the end of the day, is going to preserve jobs and increase growth.With the Australian people, we are very much on the same page. I don’t think they would like to see more extreme positions adopted in how we deal with this issue. They would very much appreciate the very patient approach we are taking to this because that is what, at the end of the day, is going to preserve jobs and increase growth.
This language is all very well. Sensible in fact. But it begs two highly pertinent questions: why did the Coalition radically oversimplify the budget challenge in the effort to secure government in 2013? And why did it adopt extreme positions during its first budget in 2014?This language is all very well. Sensible in fact. But it begs two highly pertinent questions: why did the Coalition radically oversimplify the budget challenge in the effort to secure government in 2013? And why did it adopt extreme positions during its first budget in 2014?
Updated at 3.15am GMT Updated at 2.15pm AEST
2.42am GMT02:42 1.42pm AEST02:42
Q: What sort of proportion of the new measures you announced today will you need to get through the Senate?Q: What sort of proportion of the new measures you announced today will you need to get through the Senate?
Scott MorrisonScott Morrison
There are a variety which are administrative and executive matters and also legislation.There are a variety which are administrative and executive matters and also legislation.
They’ll be presented as we go back into parliament next year and so you’ll see that very plainly at that time.They’ll be presented as we go back into parliament next year and so you’ll see that very plainly at that time.
Updated at 3.15am GMT Updated at 2.15pm AEST
2.41am GMT02:41 1.41pm AEST02:41
Scott Morrison, on the health savings:Scott Morrison, on the health savings:
We are applying the same targeting that applies to doctors and bulk billing of doctors to this area. The previous government allowed this program to get out of control and to go beyond what we would consider was its original design. When you are dealing with the budget, you need to make sure not just that your revenue is fit for purpose but your expenditure is fit for purpose.We are applying the same targeting that applies to doctors and bulk billing of doctors to this area. The previous government allowed this program to get out of control and to go beyond what we would consider was its original design. When you are dealing with the budget, you need to make sure not just that your revenue is fit for purpose but your expenditure is fit for purpose.
There are clear purposes around bulk-billing incentives. When they are out of alignment with the way the rest of the system works, that’s how you bring your budget back to balance.There are clear purposes around bulk-billing incentives. When they are out of alignment with the way the rest of the system works, that’s how you bring your budget back to balance.
Updated at 3.16am GMT Updated at 2.16pm AEST
2.39am GMT02:39 1.39pm AEST02:39
Pathology nasties not expected to impact on people: CormannPathology nasties not expected to impact on people: Cormann
There’s a question about a China FTA measure which I’m not yet fully across. Rather than garble my explanation I will check that after the press conference and explain it to you properly.There’s a question about a China FTA measure which I’m not yet fully across. Rather than garble my explanation I will check that after the press conference and explain it to you properly.
Q: A big picture question: in the press release, it talks about adding $400m to the bottom line over four years. That’s the net saving. At a time when the commonwealth spends about $400bn a year, is it really not possible to find any other waste to scale back in the federal government?Q: A big picture question: in the press release, it talks about adding $400m to the bottom line over four years. That’s the net saving. At a time when the commonwealth spends about $400bn a year, is it really not possible to find any other waste to scale back in the federal government?
David, this is a budget update, it is not a budget. The budget will be the next time when we work through these measures again.David, this is a budget update, it is not a budget. The budget will be the next time when we work through these measures again.
Q: I wonder if you could explain the decision. There is a $650m saving in the Medicare benefit schedule changing to diagnostic and imaging services. That will have a significant impact on people and on savings. What’s behind that policy?Q: I wonder if you could explain the decision. There is a $650m saving in the Medicare benefit schedule changing to diagnostic and imaging services. That will have a significant impact on people and on savings. What’s behind that policy?
Mathias CormannMathias Cormann
It is not expected to have an impact on people.It is not expected to have an impact on people.
What we are seeking to do here, in the main, is make the benefit arrangements consistent with those that apply in the context of benefits for GP services so there is what is described as a bulk-billing incentive payment in relation to GP services that is limited to concession cardholders, children under 16 years of age and so on. In relation to the bulk-billing incentive payment for diagnostic imaging services, we are essentially making it entirely consistent with that. We thought that was an anomaly here.What we are seeking to do here, in the main, is make the benefit arrangements consistent with those that apply in the context of benefits for GP services so there is what is described as a bulk-billing incentive payment in relation to GP services that is limited to concession cardholders, children under 16 years of age and so on. In relation to the bulk-billing incentive payment for diagnostic imaging services, we are essentially making it entirely consistent with that. We thought that was an anomaly here.
In relation to pathology services, we are removing the bulk-billing incentive payment because there is a very strong competitive sector here; there is about 89%, 90% bulk billing takes place as we speak in relation to services provided through the pathology service providers so there is essentially not the additional benefit provided by continuing that arrangement in place. That is essentially the main driver.In relation to pathology services, we are removing the bulk-billing incentive payment because there is a very strong competitive sector here; there is about 89%, 90% bulk billing takes place as we speak in relation to services provided through the pathology service providers so there is essentially not the additional benefit provided by continuing that arrangement in place. That is essentially the main driver.
Updated at 3.18am GMT Updated at 2.18pm AEST
2.31am GMT02:31 1.31pm AEST02:31
A GST WA question. When in Perth ...A GST WA question. When in Perth ...
Then to the nasties.Then to the nasties.
Q: Can you explain what the health workforce programs are that will save over half a billion dollars?Q: Can you explain what the health workforce programs are that will save over half a billion dollars?
Mathias CormannMathias Cormann
There is a range of workforce-related programs across government in relation to health and the aged care sector in particular. What we found is there is a level of duplication and inefficiency and our focus has been on removing duplication wherever we can, on making sure that all government spending, in particular and including this area, is as efficient and effective and targeted as possible and the details are there in the measure description.There is a range of workforce-related programs across government in relation to health and the aged care sector in particular. What we found is there is a level of duplication and inefficiency and our focus has been on removing duplication wherever we can, on making sure that all government spending, in particular and including this area, is as efficient and effective and targeted as possible and the details are there in the measure description.
(I haven’t looked yet. I will look when we get through this.)(I haven’t looked yet. I will look when we get through this.)
Updated at 3.18am GMT Updated at 2.18pm AEST
2.28am GMT02:28 1.28pm AEST02:28
Q: The price of US$39 a tonne in this document, is that realistic?Q: The price of US$39 a tonne in this document, is that realistic?
Mathias CormannMathias Cormann
It is based on the four-week average – which is the methodology used by treasury. This is an update; this is where it was struck at the time of finalising this document. There will be a budget next year.It is based on the four-week average – which is the methodology used by treasury. This is an update; this is where it was struck at the time of finalising this document. There will be a budget next year.
Updated at 3.18am GMT Updated at 2.18pm AEST
2.26am GMT02:26 1.26pm AEST02:26
Q: The deficits is now far worse. You are not putting off difficult decisions into the future?Q: The deficits is now far worse. You are not putting off difficult decisions into the future?
Scott MorrisonScott Morrison
This is Myefo – this isn’t a budget. This is an update on the budget. It contains savings and other measures that more than account for the spending decisions that have been taken since the last budget.This is Myefo – this isn’t a budget. This is an update on the budget. It contains savings and other measures that more than account for the spending decisions that have been taken since the last budget.
We will go to a budget next year and we will look further to what needs to be achieved.We will go to a budget next year and we will look further to what needs to be achieved.
Q: Is there a plan B if the Senate doesn’t cooperate with the savings ... you have counted here or if the iron ore price continues to fall? Currently it is below the price that’s in this document. Senator Cormann, the narrative of jobs and growth does not ring true in WA at the moment. So how bad is it going to get in WA?Q: Is there a plan B if the Senate doesn’t cooperate with the savings ... you have counted here or if the iron ore price continues to fall? Currently it is below the price that’s in this document. Senator Cormann, the narrative of jobs and growth does not ring true in WA at the moment. So how bad is it going to get in WA?
Mathias CormannMathias Cormann
Firstly in relation to your question about the Senate, our budget and now updated in this budget update is our plan. That’s the plan we are putting forward, openly and transparently forward for all to see to assess and scrutinise. The budget is our plan. Of course we have been, as the treasurer has been saying, been making significant progress in getting our budget through the Senate. We are continuing to work our way through this.Firstly in relation to your question about the Senate, our budget and now updated in this budget update is our plan. That’s the plan we are putting forward, openly and transparently forward for all to see to assess and scrutinise. The budget is our plan. Of course we have been, as the treasurer has been saying, been making significant progress in getting our budget through the Senate. We are continuing to work our way through this.
The price for iron ore, the price we are able to achieve in global markets in iron ore went from a high of $180 a tonne to $38-$39 a tonne at the moment. When iron ore is about 20% of our national export income, of course you’d expect that to flow through. But the good news is that the economy, including here in WA, is actually transitioning quite well.The price for iron ore, the price we are able to achieve in global markets in iron ore went from a high of $180 a tonne to $38-$39 a tonne at the moment. When iron ore is about 20% of our national export income, of course you’d expect that to flow through. But the good news is that the economy, including here in WA, is actually transitioning quite well.
Updated at 3.20am GMT Updated at 2.20pm AEST
2.20am GMT02:20 1.20pm AEST02:20
There was more scene setting but I’ll recap later. Questions now.There was more scene setting but I’ll recap later. Questions now.
Q: Is the promise made by Tony Abbott about a return to 1% budget surplus of GDP dead? If the economy is gaining momentum as you have just mentioned, why have you been forced to slice your forecast GDP, household consumption, dwelling investment, non-mining investment and terms of trade?Q: Is the promise made by Tony Abbott about a return to 1% budget surplus of GDP dead? If the economy is gaining momentum as you have just mentioned, why have you been forced to slice your forecast GDP, household consumption, dwelling investment, non-mining investment and terms of trade?
Finance minister Cormann says the failure to deliver on Abbott’s surplus promise is not a new development.Finance minister Cormann says the failure to deliver on Abbott’s surplus promise is not a new development.
Mathias CormannMathias Cormann
Previous budgets and budget updates have clearly spelt out the fact we are facing additional global economic head winds. We are facing additional challenges given what’s been happening to our terms of trade. Everybody knows the price for iron ore is much lower now than what it was when we came into government. I think you’ll find the question you asked today does not relate to a new development in our half-yearly budget today. It is something we have previously readily acknowledged.Previous budgets and budget updates have clearly spelt out the fact we are facing additional global economic head winds. We are facing additional challenges given what’s been happening to our terms of trade. Everybody knows the price for iron ore is much lower now than what it was when we came into government. I think you’ll find the question you asked today does not relate to a new development in our half-yearly budget today. It is something we have previously readily acknowledged.
Scott MorrisonScott Morrison
It may well be that things may improve more than what we have said in this document. That would have the obvious positive impact, but what we have in this document, I think, is a very realistic and honest outlook. We know where the destination is and we know how we’re going to get there and we will arrive there when expenditure is less than revenue.It may well be that things may improve more than what we have said in this document. That would have the obvious positive impact, but what we have in this document, I think, is a very realistic and honest outlook. We know where the destination is and we know how we’re going to get there and we will arrive there when expenditure is less than revenue.
2.15am GMT02:15 1.15pm AEST02:15
More on the virtue of patience and responsibility when it comes to deficit reduction.More on the virtue of patience and responsibility when it comes to deficit reduction.
Scott MorrisonScott Morrison
Despite revenue write downs of almost $34bn caused by falling commodity prices, a declining terms of trade, weaker global growth and the adoption of more realistic domestic growth outlook, we continue patiently and responsibly on the path to budget balance.Despite revenue write downs of almost $34bn caused by falling commodity prices, a declining terms of trade, weaker global growth and the adoption of more realistic domestic growth outlook, we continue patiently and responsibly on the path to budget balance.
I want to stress those words: patiently and responsibly.I want to stress those words: patiently and responsibly.
2.13am GMT02:13 1.13pm AEST02:13
The car does beg the question: who are the nagging deficit obsessed kids in the backseat? It used to be the two men currently at the microphone. But I digress.The car does beg the question: who are the nagging deficit obsessed kids in the backseat? It used to be the two men currently at the microphone. But I digress.
2.10am GMT02:10 1.10pm AEST02:10
Scott Morrison addresses reporters in PerthScott Morrison addresses reporters in Perth
The treasurer has opening the rhetorical batting on Myefo with the predictable language about the economy rebalancing.The treasurer has opening the rhetorical batting on Myefo with the predictable language about the economy rebalancing.
He then chooses a holiday analogy to explain deficit reduction.He then chooses a holiday analogy to explain deficit reduction.
Yes, he did.Yes, he did.
Scott MorrisonScott Morrison
As we go into this summer season and Christmas season, many Australians will jump in the car and they’ll head off to their favourite holiday destination.As we go into this summer season and Christmas season, many Australians will jump in the car and they’ll head off to their favourite holiday destination.
They know where they’re going and they know how to get there, there are no short-cuts, there may be some delays on the way with roadworks or things like this – there will be plenty of people in the back seat, which often happens when I’m driving, the family saying: “Are we there yet? Are we there yet?”.They know where they’re going and they know how to get there, there are no short-cuts, there may be some delays on the way with roadworks or things like this – there will be plenty of people in the back seat, which often happens when I’m driving, the family saying: “Are we there yet? Are we there yet?”.
That’s natural. The path back to budget balance is similar to that. We need to take a safe and careful route and one does not put at risk our jobs and growth.That’s natural. The path back to budget balance is similar to that. We need to take a safe and careful route and one does not put at risk our jobs and growth.
Updated at 2.29am GMT Updated at 1.29pm AEST
2.05am GMT02:05 1.05pm AEST02:05
Pathology and other nasties ..Pathology and other nasties ..
My colleague, Daniel Hurst, on the nasties.My colleague, Daniel Hurst, on the nasties.
The new cuts include $650m over four years through changes to bulk-billing incentives.The new cuts include $650m over four years through changes to bulk-billing incentives.
The government says it will remove incentives for pathology services and reduce the incentive for MRI services. It says it will align incentives for diagnostic imaging services to the ones that apply to GP services, with incentives continuing to apply for patients with concession cards and children under 16.The government says it will remove incentives for pathology services and reduce the incentive for MRI services. It says it will align incentives for diagnostic imaging services to the ones that apply to GP services, with incentives continuing to apply for patients with concession cards and children under 16.
Morrison is also banking on $1.3bn by expanding the welfare payment integrity measure announced in the last budget, which was already slated to achieve $1.7bn.Morrison is also banking on $1.3bn by expanding the welfare payment integrity measure announced in the last budget, which was already slated to achieve $1.7bn.
The government says the new measure will focus on recovering money from a greater number of people where discrepancies exist between the employment income they declare to Centrelink and the “pay as you go” information provided to the tax office.The government says the new measure will focus on recovering money from a greater number of people where discrepancies exist between the employment income they declare to Centrelink and the “pay as you go” information provided to the tax office.
2.02am GMT02:02 1.02pm AEST02:02
MYEFO at a glanceMYEFO at a glance
Here are your key points, via my colleague Lenore Taylor.Here are your key points, via my colleague Lenore Taylor.
Updated at 2.26am GMT Updated at 1.26pm AEST
1.55am GMT01:55 12.55pm AEST01:55
One other quick refresh before we get the new material. Some of the news reports in the lead up to MYEFO have indicated the government will seek savings today through strengthening the integrity of welfare payments, rather than going after people’s current entitlements. If correct, this is an attempt to make budget savings look painless.One other quick refresh before we get the new material. Some of the news reports in the lead up to MYEFO have indicated the government will seek savings today through strengthening the integrity of welfare payments, rather than going after people’s current entitlements. If correct, this is an attempt to make budget savings look painless.
But big “integrity” savings seems pretty ambitious when you consider the May budget’s second biggest savings measure was a $1.7bn proposal to strengthen the integrity of welfare payments. That particular saving was number two after the changes to social security assets tests and taper rates ($2.4bn). The budget’s welfare crackdown measure was seen as a rather large saving to book at the time given the description of the measure in the budget papers wasn’t all that specific. I’ll be interested to see what emerges today.But big “integrity” savings seems pretty ambitious when you consider the May budget’s second biggest savings measure was a $1.7bn proposal to strengthen the integrity of welfare payments. That particular saving was number two after the changes to social security assets tests and taper rates ($2.4bn). The budget’s welfare crackdown measure was seen as a rather large saving to book at the time given the description of the measure in the budget papers wasn’t all that specific. I’ll be interested to see what emerges today.
1.47am GMT01:47 12.47pm AEST01:47
Let's refresh our memory on key forecastsLet's refresh our memory on key forecasts
A quick reminder of some of the key budget forecasts before we get the fresh material.A quick reminder of some of the key budget forecasts before we get the fresh material.
1.38am GMT01:38 12.38pm AEST01:38
Earlier, I mentioned the government walking away from the florid budget emergency rhetoric it used so volubly in opposition. It’s all about rebalancing now. Here’s a small case study of that.Earlier, I mentioned the government walking away from the florid budget emergency rhetoric it used so volubly in opposition. It’s all about rebalancing now. Here’s a small case study of that.
This is from an interview the finance minister Mathias Cormann did this morning with Virginia Trioli on ABC news breakfast. It doesn’t need me to set it up, the back and forth will be clear if you read on.This is from an interview the finance minister Mathias Cormann did this morning with Virginia Trioli on ABC news breakfast. It doesn’t need me to set it up, the back and forth will be clear if you read on.
Q: If the deficit comes in between $35 to $38bn will that be described as a budget emergency?Q: If the deficit comes in between $35 to $38bn will that be described as a budget emergency?
Mathias Cormann:Mathias Cormann:
Well, what you will see in the budget update today, as the government continues to make progress in putting Australia on a stronger economic and fiscal foundation for the future, our economy is transitioning from significant resource investment-driven growth to broader drivers of economic activity and when it comes to the budget, what we were able to see at budget time was that the budget position was improving over the forward estimates and that we were getting back into balance at an appropriate speed and of course since budget time there have been some additional headwinds. The price of iron ore has fallen further. Everybody knows that that does have flow-on consequences. The government’s focus has been on policies to strengthen growth such as the innovation statement released last week but also on controlling expenditure – and what the budget update to be released today will show is wherever we are to incur additional payment they have been more than offset by reductions in expenditure in other parts of the budget and so that overall expenditure in this budget update is lower than what was forecast at budget time.Well, what you will see in the budget update today, as the government continues to make progress in putting Australia on a stronger economic and fiscal foundation for the future, our economy is transitioning from significant resource investment-driven growth to broader drivers of economic activity and when it comes to the budget, what we were able to see at budget time was that the budget position was improving over the forward estimates and that we were getting back into balance at an appropriate speed and of course since budget time there have been some additional headwinds. The price of iron ore has fallen further. Everybody knows that that does have flow-on consequences. The government’s focus has been on policies to strengthen growth such as the innovation statement released last week but also on controlling expenditure – and what the budget update to be released today will show is wherever we are to incur additional payment they have been more than offset by reductions in expenditure in other parts of the budget and so that overall expenditure in this budget update is lower than what was forecast at budget time.
Q: That’s a good speech but it doesn’t answer my question which is whether that figure between $35 and $38bn would be described as a budget emergency. Let me ask it another way. If you were in opposition and the Labor government came back with that figure ... would that be acceptable to you?Q: That’s a good speech but it doesn’t answer my question which is whether that figure between $35 and $38bn would be described as a budget emergency. Let me ask it another way. If you were in opposition and the Labor government came back with that figure ... would that be acceptable to you?
Well, we are on a credible path back to surplus.Well, we are on a credible path back to surplus.
Q: That’s not my question. I’m going to jump in. That’s not my question and I’m happy you’re on a credible path and you believe that but we’ve had lot of rhetoric over the years about what’s acceptable and unacceptable when it comes to a deficit. If we hit the figure between $35 and $38bn, if you were on the other side, would you stand up and say, “Fair enough, good figure.”?Q: That’s not my question. I’m going to jump in. That’s not my question and I’m happy you’re on a credible path and you believe that but we’ve had lot of rhetoric over the years about what’s acceptable and unacceptable when it comes to a deficit. If we hit the figure between $35 and $38bn, if you were on the other side, would you stand up and say, “Fair enough, good figure.”?
Virginia, I’m happy for you to go into the politics and into the commentary.Virginia, I’m happy for you to go into the politics and into the commentary.
Q: That’s not the politics, minister, that’s how you’ve played it. You’ve played it very hard with strong rhetoric so does the rhetoric apply to you?Q: That’s not the politics, minister, that’s how you’ve played it. You’ve played it very hard with strong rhetoric so does the rhetoric apply to you?
Well, Virginia, you can go into the politics and you can try and get me into the commentary.Well, Virginia, you can go into the politics and you can try and get me into the commentary.
Q: How about trying to get you to answer a question?Q: How about trying to get you to answer a question?
Updated at 1.38am GMT Updated at 12.38pm AEST
1.25am GMT01:25 12.25pm AEST01:25
Here’s a sample of various MYEFO news previews this morning.Here’s a sample of various MYEFO news previews this morning.
In addition to those news pieces that are about to be overrun by events, Fairfax economics editor Peter Martin has also written a good column about why this MYEFO statement will be bad news, and why we need it to be bad news, because the government needs to “stop building unlikely Senate decisions into their forecasts and ... be honest about what is happening to revenue.”In addition to those news pieces that are about to be overrun by events, Fairfax economics editor Peter Martin has also written a good column about why this MYEFO statement will be bad news, and why we need it to be bad news, because the government needs to “stop building unlikely Senate decisions into their forecasts and ... be honest about what is happening to revenue.”
The commentary is timeless and might be one you bookmark for later. You can read Peter here.The commentary is timeless and might be one you bookmark for later. You can read Peter here.
Updated at 3.25am GMT Updated at 2.25pm AEST
1.10am GMT01:10 12.10pm AEST01:10
What was I saying before about red ink? Courtesy of David Uren, economics editor at The Australian (shared by his colleague David Crowe and now, me) – the top line of this chart is the official budget forecasts for the deficit. The red column is the blowout predictions of various market economists. Average blowout $33.3bn.What was I saying before about red ink? Courtesy of David Uren, economics editor at The Australian (shared by his colleague David Crowe and now, me) – the top line of this chart is the official budget forecasts for the deficit. The red column is the blowout predictions of various market economists. Average blowout $33.3bn.
Another budget cheat sheet for #MYEFO today, from David Uren's work on Monday. More online: https://t.co/qVZ6VGPFPV pic.twitter.com/D0DpD1uejfAnother budget cheat sheet for #MYEFO today, from David Uren's work on Monday. More online: https://t.co/qVZ6VGPFPV pic.twitter.com/D0DpD1uejf
1.00am GMT01:00 12.00pm AEST01:00
Dust off your calculators ..Dust off your calculators ..
Greetings and welcome to today’s live coverage of the midyear economic and fiscal outlook. Yes I know we folded Politics Live in the final sitting week of parliament but MYEFO beckons. I did hint we might be back, and boom, here we are. Boom. Yes, carrying on now.Greetings and welcome to today’s live coverage of the midyear economic and fiscal outlook. Yes I know we folded Politics Live in the final sitting week of parliament but MYEFO beckons. I did hint we might be back, and boom, here we are. Boom. Yes, carrying on now.
Regular readers will require no introduction to today’s festivities, but in case you are not a hard core politics tragic, merely curious, idly exploring the interwebs at your desk at a time of year when many people are now just pretending to work in order to fill up the hours ahead of the latest work Christmas lunch before bolting home early ... welcome to Myefo.Regular readers will require no introduction to today’s festivities, but in case you are not a hard core politics tragic, merely curious, idly exploring the interwebs at your desk at a time of year when many people are now just pretending to work in order to fill up the hours ahead of the latest work Christmas lunch before bolting home early ... welcome to Myefo.
Under the charter of budget honesty, the government is required to update the national economic and fiscal outlook six months after the release of the budget. As well as revising key forecasts, MYEFO accounts for all of the decisions taken since the budget that affect either spending or revenue.Under the charter of budget honesty, the government is required to update the national economic and fiscal outlook six months after the release of the budget. As well as revising key forecasts, MYEFO accounts for all of the decisions taken since the budget that affect either spending or revenue.
It’s a little early Christmas present that lobs about this time each year, generally content rich, with bonus charts.It’s a little early Christmas present that lobs about this time each year, generally content rich, with bonus charts.
MYEFO, December 2015 is not expected to be spectacular news for tidy souls who like their columns to add up and contain no red ink. Early mail suggests debt up, deficits up, growth down, and some pruning of expenditures in order to offset more than $5bn the government has spent since the budget.MYEFO, December 2015 is not expected to be spectacular news for tidy souls who like their columns to add up and contain no red ink. Early mail suggests debt up, deficits up, growth down, and some pruning of expenditures in order to offset more than $5bn the government has spent since the budget.
Remember that “budget emergency” the Liberals used to talk about when campaigning for government? Well, two years into their term in office, it’s still with us. But the official terminology has changed now that it’s the government’s budget emergency and not Labor’s budget emergency. Now the government talks about the challenges associated with the economy rebalancing, because that’s much more soothing.Remember that “budget emergency” the Liberals used to talk about when campaigning for government? Well, two years into their term in office, it’s still with us. But the official terminology has changed now that it’s the government’s budget emergency and not Labor’s budget emergency. Now the government talks about the challenges associated with the economy rebalancing, because that’s much more soothing.
A couple of procedural things before we set the scene and then embark on the live coverage.A couple of procedural things before we set the scene and then embark on the live coverage.
You don’t have to wait for any of us. The Politics Live comment thread is open for your business and you can find me on the twitters @murpharoo where I apparently share fan fiction and other regular insights, mainly about politics, and sometimes about my cat. These contributions are variously characterised as very helpful or not at all helpful, usually simultaneously. Feel free to join the conversation there. It’s generally a hoot.You don’t have to wait for any of us. The Politics Live comment thread is open for your business and you can find me on the twitters @murpharoo where I apparently share fan fiction and other regular insights, mainly about politics, and sometimes about my cat. These contributions are variously characterised as very helpful or not at all helpful, usually simultaneously. Feel free to join the conversation there. It’s generally a hoot.
So chop chop, let’s tune the analytical hamstrings. Refresh the teapot, help yourself to a dainty mince tart. Here comes MYEFO.So chop chop, let’s tune the analytical hamstrings. Refresh the teapot, help yourself to a dainty mince tart. Here comes MYEFO.
Updated at 3.26am GMT Updated at 2.26pm AEST