The Morning Edition
Inside Politics: The best and worst of 2024
Dec 19, 2024
Join David Crowe, the Chief Political Correspondent, for a deep dive into Australian federal politics. He discusses the unexpected twists in the Mid-Year Economic Update and the Coalition's nuclear energy plans, projecting a staggering cost of $331 billion. David sheds light on the looming budget deficit and political maneuvering ahead of the election. He also navigates complex topics like the Israel-Gaza conflict and how they affect public perception of Prime Minister Albanese's leadership amidst a cost of living crisis.
19:04
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Quick takeaways
- The Mid-Year Economic and Fiscal Outlook highlights significant budget deficits and lack of a compelling plan, risking the government's electoral strength.
- The coalition's nuclear energy proposal faces scrutiny over economic viability and price implications, raising doubts about its potential electoral success.
Deep dives
Mid-Year Economic Update Insights
The Mid-Year Economic and Fiscal Outlook reveals significant budget deficits and a heightened debt burden, estimating a future debt load of $1.2 trillion. Despite an overall improvement of $200 billion since the government was elected, the report lacks a clear vision to present to voters, leading to concerns about the government's ability to effectively campaign for the upcoming election. Opposition comments indicate frustration with the government's spending, with claims that a typical Australian family could be $2,000 worse off by Christmas, as no relief measures are evident in the update. The government will need to present a more compelling policy plan early in 2025 to counteract the backlash and strengthen its electoral position.
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