Thoughts on the budget
I’m on the opposite side of the world at the moment (Jerusalem — great city) and mostly out of touch with the political & economic debates of Australia. But the budget still gets me curious, so today I had a quick flick through the budget papers. A few things worth commenting on…
Big government? The Liberals are claiming that this is a big-government budget. The ALP are claiming that it’s better than what the Liberals did. Both are right. At first I thought this budget had actually cut tax & spending, albeit modestly. However, on closer inspection it seems that the ALP has actually increased tax and spending a bit.
The Law Of Unintended Consequences
“Across Australia, there is no greater source of financial stress for working families than housing. It is no exaggeration to say that in early 2008, housing affordability is the worst it has been in living memory.”
Kevin Rudd, March 2008
“For investors it [the First Home Saver Account] will be a case of strong prices and capital growth being maintained, and at the very least a consistent amount of demand pressure being applied to the property market, particularly under $700,000, across the nation.”
The Eureka Report, a subscription service for property and share investors.
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