Budget under scrutiny in final week of parliament

Budget under scrutiny in final week of parliament

Federal parliament begins its final sitting week today, with the Abbott government’s budget set to come under further scrutiny.

One of Australia’s most experienced budget analysts, Deloitte Access Economics, has today released its preview of the government Mid-Year Economic and Fiscal Outlook.

The government must release it’s MYEFO before the end of the year, and Deloitte is forecasting a deficit of $34.7 billion dollars for the 2014-15 financial year.

That’s $4.9 billion dollars higher than Treasurer Joe Hockey’s original forecast.

Deloitte Economist Chris Richardson says the Senate’s blocking of budget measures promised by the Abbott government is one reason for this.

“We have big deficits that are not going to go away unless ‘political Australia’ manages to reach some compromises around this,” he told the ABC

The budget is also set to come under attack as one of the reasons behind the defeat of the Victorian coalition government over the weekend.

But the government says it is confident of getting its changes to higher education passed through the Senate before the end of the year.

Meanwhile, the Federal Government is also coming under increasing pressure to improve its pay offer to the Australian Defence Force.

The have been reports over the weekend, the Abbott government is considering re-instating existing leave entitlements for ADF personnel, but the 1.5 per cent pay rise would remain unchanged.

Newly Independent Senator Jacqui Lambie is calling on the government to improve its offer, but says Prime Minister Tony Abbott has postponed a scheduled meeting with her.

The Opposition has also reminded the government, today is the final chance for the government to write to the Defence Force Remuneration Tribunal.

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Libby Dreyer
Libby Dreyer 1729 posts

Libby has worked as a Senior Journalist at National Radio News since February 2011. She graduated with a Bachelor of Journalism from the University of Canberra in December 2010.

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