We learnt yesterday that consumer confidence has bounced back from the budget lows.
But things might have been different if Treasurer Joe Hockey had been able to deliver the budget he wanted.
The AFR reports this morning that the Treasurer believes the budget was not tough enough and incredibly, given the crash in the polls that has accompanied the budget, Hockey holds Prime Minister Tony Abbott responsible “for taking a more cautious approach to appease voters”.
Quoting from an upcoming biography of the Treasurer, the AFR says Hockey wanted a lower threshold for the deficit levy than the $180,000 the Government settled on. He also wanted changes to the pensions to kick in early than the current 2016.
The AFR notes that Hockey, who is in New Zealand at the moment, is holding firm on his view the budget should be tougher and the Senate needs to pass his measures.
“If you need any evidence at all of the benefits of undertaking reform look no further than what’s happened in New Zealand where they are getting to surplus and they have a growth trajectory and a jobs trajectory that Australians could be jealous of.”
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