SME response to budget changes mixed
The Henry Tax Review and the 2010 budget generated much coverage but little in the way of direct feedback from the small to medium-size enterprise community. What little has emerged is definitely colourful.
Faulkner falls short on budget transparency test
The Australian Strategic Policy Institute’s forensic analysis of the $27 billion defence budget uncovered a heady mix of obfuscation, weaselling and accounting tricks.
Renewables fund a last-minute blow-in
The Rudd government decided to set up its $652 million renewable energy “future fund” just days before the release of the federal budget, underlining the nature of policy formulation afflicting senior Labor ranks.
Opposition gets out knife
The coalition has scaled down one of its grandest election vows and junked others in a bid to cut its spending commitments to $4.8 billion and respond to Labor accusations that it has exaggerated its budget cuts.
Mum and dads wait to invest in broadband
Mum and dad investors will have to wait to buy a stake in the $43 billion high speed national broadband network (NBN), Australia's debt management agency says.
Abbott a risk to future, Gillard
Deputy Prime Minister Julia Gillard says she is "truly shocked" at opposition plans to shelve billions of dollars in government education programs.
Coalition returns economy to surplus ‘responsibly’
A coalition government would return Australia to surplus the responsible way not the lazy way, federal Opposition Leader Tony Abbott says.
Finance to reinvest $500m IT savings
Listed information technology services companies are among those breathing a sigh of relief after the federal government issued a long shopping list of projects to be funded from the billion-dollar savings generated by a review of Canberra’s IT spending.
Financial Review TV
2010 Budget analysis - Health Panel
Australian Medical Association President Dr Andrew Pesce and the Executive Director of the Consumers Health Forum of Australia Carol Bennett discuss the budget implications on health, specifically the large increases in funding towards the sector.
Blind faith in status quo
It took the Polish church 467 years to raise Nicholaus Copernicus from heretic to hero and to rebury him with honors appropriate to his greatness.
Silent partner tax plan is bad for business
The Labor government’s proposed resource super profits tax can be considered as a conflict between an insatiable desire for a quick fix a budget deficit in three years and an entrepreneurial spirit to exploit our natural resources.
Limit access to the purse
The single most important macro policy challenge facing governments and policy authorities today is fiscal consolidation. It is time to consider an independent fiscal authority.
By the numbers
See where the money’s coming from, and where it’s going to in the 2010 federal budget.
Winners and losers
Winners: taxpaying families, primary healthcare, sport, retirees, renewable energy. Losers: pharmacies, mental health, dental health, smokers, travelling politicians.
What they said
See what government, the opposition and business leaders had to say about the 2010 federal budget.
A lighter side of the budget
Enjoy Rod Clement’s, Ward O’Neill’s and David Rowe’s take on the 2010 federal budget with this collection of illustrations and cartoons.
Treasurer Wayne Swan’s speech in full
Delivered on 11 May 2010 on the second reading of the appropriation bill (no.1) by the Honorable Wayne Swan MP, Treasurer of the Commonwealth of Australia.
Budget cash position predictions
Economist forecasts for budget cash position and gross domestic product.
Mid-year economic and fiscal outlook
Catch up on the pre-budget state of play with the 2009-10 mid-year economic and fiscal outlook.
Economy
Abbott short on numbers
The Rudd Government has launched a direct assault on Opposition leader Tony Abbott after his budget-in-reply speech gave limited details of savings necessary to fund coalition policies.
Too soon to start saving surpluses: Tanner
The federal government has dismissed as premature calls to bank future surpluses in a fund to support investment.
Business
SME response to budget changes mixed
The Henry Tax Review and the 2010 budget generated much coverage but little in the way of direct feedback from the small to medium-size enterprise community. What little has emerged is definitely colourful.
Finance to reinvest $500m IT savings
Listed information technology services companies are among those breathing a sigh of relief after the federal government issued a long shopping list of projects to be funded from the billion-dollar savings generated by a review of Canberra’s IT spending.
Tax & Superannuation
Brumby hints at payroll tax relief
Reducing payroll tax will be a budget priority for a fourth-term Victorian government if economic conditions permit, Premier John Brumby says.
Brumby hints at payroll tax relief
Reducing payroll tax will be a budget priority for a fourth term Victorian government if economic conditions permit, Victorian Premier John Brumby says.
Health
$10b for health in Qld budget
The Queensland Health payroll bungle will cost $4 million to fix this year, taken from the department's corporate budget.
$16.4 billion earmarked for healths spending
Record health spending in the NSW budget allocates $16.4 billion for services and infrastructure, including funds to boost elective surgery procedures across the state.
Climate & agriculture
Abbott's climate plan to cost $30bn: Combet
The federal government has released figures it says show the opposition's direct action plan to tackle climate change would cost nearly 200 per cent, or $19.5 billion, more than originally claimed.
DuPont eyes solar shingle market
DuPont wants to integrate more solar technologies into building materials, a step that would heighten its rivalry with Dow Chemical.
Workplace & education
Labor backs unions on wages: bosses
Australia’s biggest employer group has accused the Rudd government of siding with unions in this year’s minimum wage review at the expense of about 500,000 small to medium businesses.
It’s the Gillard framework for me, says Abbott
Opposition Leader Tony Abbott has moved to counter accusations he would reintroduce WorkChoices if the Coalition wins at the next election, declaring he would work within the Labor government’s workplace relations regime to make any changes.
Opinion
Henry shouldn’t languish on the shelf
While Julia Gillard grapples with the resources tax, Ken Henry’s central proposals for Australia’s tax and transfer system have yet to be dealt with.
The mining tax message must sink in
Alan Mitchell | Julia Gillard is right: the government has to spend more time building a consensus in support of its tax reforms.