When you strip away the spin, the Budget figures reveal:
- Government spending as a proportion of GDP is the highest in four decades, excluding the peak of Covid-19 spending.
- No improvement in the budget position compared to forecasts made at the last election, despite an unexpected tax revenue windfall of nearly $400 billion.
- Spending growth is unsustainable, significantly outpacing both economic growth and inflation. This year, spending is forecast to rise 6% above inflation.
- The federal bureaucracy continues to grow by another 3,400 positions next year and totalling 41,000 new roles since the last election.
Despite these challenges, counterproductive policies abound:
- We have a productivity crisis yet the Government persists with retrograde IR policies such as abolishing the ABCC (despite analysis showing CFMEU militancy adds 30% to construction costs).
- We have an energy crisis yet the Government blindly pursues a renewables-only agenda, covering the consequences with short-term handouts rather than sustainable policy solutions.
- Business investment is stagnant, yet the Government is phasing out the successful instant asset write off which helps small businesses invest and grow.
Vote Liberal/NP/.In most cases put Greens and/or Teals last.
David Boyd's Blog 