The finance sector knows better than most about the importance of good fiscal policy.
So when finance brokers approve of the Federal Budget the government has to be doing something right.
Chief executive of the industry’s peak body, the Finance Brokers Association of Australia, Peter White has given the budget the “thumbs-up”.
“I’m not saying it’s brilliant,” he said. “It could be a lot worse.”
He said although many of the deep funding cuts, the introduction of an indexed fuel excise and GP co-payments are all tough pills to swallow for many individuals, the debt has to be repaid.
“A $657 billion debt with an interest bill that would make your heart stop isn’t easy to get rid of,” he said.
“Although there are areas of the budget which are not the most desired, this is the Government’s plan to pay off their debt, like all of us have to pay off ours.
“There are many areas where money should be spent and increased costs should not apply, but, until the books are balancing out, the belts need to be tightened.”
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