If wages just grow at the rate of the last 12 months, rather than at the higher growth in the budget forecasts, income tax collections will be A$7 billion less for 2019-20. Joel Carrett/AAP

Why biased budget forecasts make poor politics

Wonky forecasts show it’s time for a new approach that adopts more conservative forecasts, and makes a genuine commitment to budget repair.
Economic reality has intruded on rosy budget predictions for years now and the Pre-election Economic and Fiscal Outlook may soon challenge Treasurer Scott Morrison’s forecasts. AAP/Mick Tsikas

Three critical tests for Budget 2016: how does it fare?

Budget repair was put off till later, and the net impact of decisions in the budget was small, but it will be easier to defend in the coming election campaign than some other recent efforts.
Will Treasurer Scott Morrison revive the Ghosts of Budgets Past in this year’s budget speech? AAP/Mick Tsikas

Where are they now? Tracking down the promises of budgets past

Having made a commitment to reduce spending, the federal government will have its work cut out with this year’s budget, which may require revisiting policy ideas that have caused it pain in the past.
The competition policy review is just another difficult conversation for the Abbott government. Gary Schafer/AAP

Government writing reform cheques it’s unlikely to cash

Big reforms in taxation and competition policy are on the table for the Abbott government, but has it spent too much political capital to get any of them across the line?
Many stubbornly believe a bigger pot of GST revenues, like the magic pudding, will regenerate. PeraCultured/Flickr

Selling a GST rise will be easier if we can follow the money

Australia’s latest GST debate may be the political version of The Magic Pudding. We stubbornly believe that a bigger pot of GST revenues will regenerate – in whatever flavour is desired – like Alfred the…
Australia’s children and grandchildren will not enjoy the fruits of the country’s prosperity as much as their parents. Mate Marschalko/Flickr

Young Australians set to pay for government policy mistakes

Having enjoyed continuously increasing prosperity since the Second World War, Australians have come to expect that each generation will live a better life than the last. But this steady progress may be…

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