Mid-Year Budget Update

[Rorschach]

What we have here... is a failure to communicate.

Well apparently that's what Joe Hockey thinks.

Joe Hockey confirms bigger budget deficit; admits Coalition failures in communicating policies
Date December 12, 2014 - 3:08PM
Lisa Cox
National political reporter

The government will reveal a larger deficit when it hands down its mid year budget update next week, Treasurer Joe Hockey has confirmed, as well as a longer delay in returning the country's finances to surplus.

The Treasurer has also admitted the government "made a mistake" in communicating with voters earlier this year, conceding "we neglected the conversation" about some of the tough measures the May budget contained.

In an interview with Sky News on Friday, Mr Hockey said the budget had faced significant "headwinds" including a global economic slow down, falling iron ore prices and a hostile Senate.

He said Monday's update would reveal a deeper deficit and the return to surplus would be pushed back beyond 2018. A number of reports have anticipated a larger deficit in recent months, with analysts anticipating a budget hole of as much as $51 billion.

But the Treasurer defended the government's handling of the economy, saying whenever it had not had to rely on the Senate it had been able to offset expenditure with savings.

He laid some of the blame with Labor for not agreeing to pass savings measures, including some that it had supported in government.

"When you're dealing with people who are completely hypocritical in relation to their own savings and they have the power to block it and block your initiatives it becomes difficult," Mr Hockey said.

"But having said all of that, we have a better than expected result on Monday because we've faced significant headwinds in the Senate and we've faced significant headwinds with commodity prices.

"There's no doubt in my mind that the Australian economy has a good trajectory.

"We are saying that on Monday."

Mr Hockey conceded the government could have done more to market some of the unpopular budget measures it revealed in May – a $7 GP fee and changes to the dole for young people among them.

"We made a mistake," he said.

"I fully accept we could have done more marketing.

"We could have spent more time explaining what we were doing to the Australian people – and we should have.

"But we were so focused on getting the outcomes that strengthen the economy, that build more jobs that we neglected the conversation."

Mr Hockey said there would be more "modest" spending cuts announced next week, but would not comment on speculation that the money would be drawn from the foreign aid budget, which has already faced large cuts.

"There will be savings," he said.

"There has to be savings.

"But they will have no negative impact on the Australian economy."

[lisa jones]

It's always been a challenge for an incoming Liberal govt to fix the budget mess left behind by a previous Labor govt.

It'll get sorted though ... it always does.

[mantra]

When do you think the Coalition are going to accept responsibility for their failures? How long can they keep blaming Labor? People are getting sick of hearing the same old lame excuses.

[IQS.RLOW]

When labor finally admits their failures, you know, like wrecking the economy and blowing out the deficit to $48bn.

I guess thinking is beyond your limited capacity.

[mantra]

When labor finally admits their failures, you know, like wrecking the economy and blowing out the deficit to $48bn.

I guess thinking is beyond your limited capacity.

Labor lost the last election. That's a statement. The Coalition won office on a myriad of promises and have already broken 80% of them. The leadership is very unstable. At present Abbott is not running a cohesive government. It's obvious most of his ministers are insecure about what he will say or do next, including Hockey who seems to be getting little or no support.

[Rorschach]

When do you think the Coalition are going to accept responsibility for their failures? How long can they keep blaming Labor? People are getting sick of hearing the same old lame excuses.

When are you going to face reality that most of the budget problem is due to Labor.
1/ creating the debt.
2/ making unsustainable policy decisions creating more and ongoing debt.
3/ preventing the government from passing measures to address their debt and deficit issues.

[TheCult]

The troll never will, all it can due is live in ignorance that they are wrong because no one of any real substance agrees with its warped views. If you don't you get called names and it will just hang around shedding tears in anger with all its other transparent id's.

I am not sure what planet these rusted on left loopies live on but they seem to be strangely silent when their party screws the entire economy up and trashes a surplus on stupidity. Losers like this aren't worth the air they breath. At least it is burned in history that Labor and the greens are incapable of running a chook raffle let alone a country.

[TheCult]

Most people understand the huge mess Labor left us in. People are sick of hearing the lame fruitcakes living in ignorance trying to blame everyone else but themselves.