Canberra Times Opinion: It’s Budget Time!

by ericknight

The Government has been leaking all kinds of things about the budget. It comes out next week. Most of what is being leaked isn’t very attractive. In the spirit of Flight of the Concords, they’re putting out the recycling which isn’t part of the foreplay but it’s very important. (Incidentally if you miss this reference check out their song It’s Business Time).

It’s impossible to know what’s fact or fiction until budget night. But some of the most alarming leaks have been around cuts to medical research funding and re-structuring welfare-to-work programmes. You have to wonder why Gillard would focus on these areas. The rumours don’t make any economic sense, as I try to argue in this piece in the Canberra Times from just before Easter.

The more likely scenario might be playing politics. Gillard thinks she can probably take votes from employees in the education and social sectors for granted. It’s for you to decide if she’s right. But if the market’s anywhere near efficient it might take a longer view of history.

I’ll be off regular posts and editorials for the next 6 weeks. The book is taking my full attention and I’ll but online after then. Meanwhile, I have a longer essay in the June edition of The Monthly which may interest. It’s about an untold Australian story of one of this country’s richest men. You probably won’t have heard of him.

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