okay here are a few articles
- australia-news/commentisfree/2022/oct/25/six-budget-2022-graphs-you-need-to-see-october-labor-economy-predictions-revenue-wage-gdp-growth-unemployment-inflation-australia
- everything-you-need-to-know-about-labors-first-budget-in-6-charts
- the-beginning-of-something-new-how-the-2022-23-budget-does-things-differently
- jim-chalmers-2022-23-budget-mantra-whatever-you-do-dont-fuel-inflation
Just a few points. They inherited a structural deficit of around $ 30-40b. ( you cannot be precise about this term unfortunately.
Going to hard too fast given what the RBA is doing would guarantee a recession rather than a slowdown. Thus it is stuck between a rock and a hard place. As Wayne Swan found out if you need to cut structural deficit the RBA needs to cut interest rates.
It is very good they are banking most of the extra revenues. It is also good they are quite restrained on spending.
However more spending cuts were needed more so given the new priories the government has.
Why the government has not introduced a supernormal profits tax on energy companies because of the explosion on fossil fuel prices ( which is predicted to continue) is simply madness.
They could have done better bbut we wait fo the next budget next May.
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