There is NO fiscal responsibility

 Neither party has adopted a fiscal responsible position.

Australia is at full employment. By any measure this is when budget repair should be going on BUT no party has any plan to reduce the structural deficit. The improvement in the deficit has purely come frrom improvements in the cyclical deficit because we are now at full employment ( because of very low immigration.)

This is now the time to take aggressive action on the structural deficit as it does improve the growth rate for the economy. It is the public sector making room for the private sector as it should and as Keynes recommended. It is why Keynesian economics is far tougher than classical economics in good times. classical economics only desires a balanced budget. ( this is why it is expansionary in good times and contractionary in bad times. it is pro-cyclical!)

Politically I see no way for the current government to change. The only was for the ALP to change would be to sat the cupboard is bare like Abbott did way back in 2013. It was a lie then and it would be a lie now because of PEFO.

In a related matter I despair at the socalled housing policies. housing prices need to fall over an extended period of time otherwise you get a recession. NO party will own up to this at all.