Sydney Morning Herald, 23 February 2009
Ross Gittins describes The Hammock’s ‘ Budget Time Bomb’:
... In other words, in its last five years, the Howard government brought about a major change in the structure of our tax system, greatly increasing our reliance on company tax and greatly reducing our reliance on income tax.
That would have been fine had the rise in commodity prices and hence company tax receipts been permanent. But we now know how temporary they proved to be.
... This is the budget time-bomb John Howard and Peter Costello left for their Labor successors. Not quite the good budget managers they keep telling us they were.
http://business.smh.com.au/business/rud ... ml?page=-1
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