budget 2012

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Review of the Economics Society of Australia’s Budget Night

Budget analyses in the media consist of a scramble to tell  readers whether or not the government has kept or broken promises and above all else,  to tell us who has won and lost out of the budget, as well as who would have won and lost had the opposition been in power.

What never fails to escape the focus of the media hurricane is the extent to which this budget addresses the deeper issues facing the country as a whole and what measures are being taken now to combat the medium to long term pressures that the country faces.

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2012-13 Federal Budget – Beyond Robin Hood and Carbon Tax Bribes

It’s Budget time! On Tuesday May 8th, Treasurer Wayne Swan handed down his fifth budget to an eager and expectant crowd of media commentators following a significant lead-up of leaks and speculation. This crowd has since devoured the budget’s contents and embarked upon a reporting frenzy that has been nothing short of what’s expected. There has been tremendous coverage on the politics of this Budget, with the Government accused of playing the class warfare card to appeal to traditional Labor supporters.

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Federal Budget 2012 – A Preview

What is the Budget?

The Budget is the Government’s annual financial report. It outlines planned expenditure, and comprises the Treasurer’s speech, the main appropriation bills allowing the allocated spending of public money and other legislation to bring about financial proposals in the Budget Speech.

Producing a surplus is no easy feat. Photo: Alex Ellinghausen

Context

Treasurer Wayne Swan has promised a surplus in this year’s federal budget, fulfilling a pledge he made two years ago when growth forecasts favoured a 2012-13 surplus.

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