7am The election budget: What's in it for you?
Mar 25, 2025
In this engaging discussion, Paul Bongiorno, a columnist for The Saturday Paper and political analyst, delves into the nuances of the Labor government’s election budget. He highlights unexpected tax cuts and substantial investments in healthcare, aimed at easing the cost of living. Paul analyzes how this budget, set against a backdrop of soaring public debt, could influence the upcoming elections and the political strategies at play. Expect insights on how these fiscal moves may resonate with voters and shape the government’s re-election prospects.
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Keating's Budget Ritual
- In 1988, Treasurer Paul Keating listened to Richard Wagner's four last songs before delivering the budget.
- Paul Bongiorno, reflecting on his 35 budgets covered, shared this anecdote.
Australian Debt in Context
- Australia's gross public debt, peaking at 37% of GDP, is comparatively low globally.
- Higher energy prices and lower commodity prices explain the shift from surpluses to deficits.
Labor's Message to Voters
- Labor's overarching message is that they are supporting Australians during tough times.
- The budget includes measures like bulk billing, energy bill relief, and a surprise tax cut.