At first blush, the reaction to Treasurer Jim Chalmers’ third budget was that of indifference and a little scepticism., a vital part of Labor’s pitch for a second term, the budget had two main political aims: to help further with the cost of living; and, in doing so, buy a pre-election interest rate cut.The government added $7.
In helping people again this year, the government sought to buy the rate cut by ladling out $3.5 billion in power bill discounts for households and small business, which will mechanically reduce headline inflation by half a percentage point.The voters were not convinced. The poll showed just 11 per cent thought the budget decreased the prospect of another rate rise while 39 per cent, perhaps more convinced by the increased spending in the budget, feared it could push up rates.
We are now a year or less from the next federal election and at some stage, the government needs to stop spinning its wheels and gain some traction. Labor’s two-party vote, which was 52.1 per cent at the last election, has been stuck at 51 per cent or 50 per cent since September last year and this month is no different.The budget was not a disaster. Budgets hang around. This one pretty much lasted a day and half and was forgotten about.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: FinancialReview - 🏆 2. / 90 Read more »
Source: FinancialReview - 🏆 2. / 90 Read more »