SKIP TO MAIN CONTENT

[Editorial Analysis] The SMH: Morrison erases just enough of Abbott-Hockey

Treasurer Scott Morrison (L) and Prime Minister Malcolm Turnbull
Treasurer Scott Morrison (L) and Prime Minister Malcolm Turnbull Source: AAP

The SMH argues in its recent editorial that the Treasurer has passed this test - not with flying colours, but with a steady enough hand to minimise the chance of a voter revolt or economic slump.


Published

By Euna Cho

Source: SBS



Skip to podcast episode content

The SMH argues in its recent editorial that the Treasurer has passed this test - not with flying colours, but with a steady enough hand to minimise the chance of a voter revolt or economic slump.


Absent is the unfair punishment of the weak - and dangerous university deregulation. No more attempts to strip the dole off jobless youth for six months, either.

In their place in this first budget of Treasurer Scott Morrison are a commendable program of internships with a benefits top-up and incentives for employers.

The Treasurer has started the winding back of superannuation tax breaks for top earners. These efforts deserve praise.

We welcome the crackdown on tax avoidance and the plan for lower corporate taxes too.

Realistically, though, thorough budget repair through tax reform will have to wait. This budget offers ad hoc changes with an eye to the election and employment.

Government payments as a share of the economy are falling modestly from 25.8 per cent in 2015-16 to 25.2 per cent in 2019-20.

What's more, the Coalition had a supposed "unity ticket" on Gonski school funding then reneged. In addition, this budget includes $13 billion in savings measures and $1.5 billion in revenue measures not yet passed by the Senate, whose post-election make-up is unknown.

With barely 60 days until July 2, the politics of backlash against this budget remains possible. The Coalition is still exposed in education - despite pledging $1.2 billion to make up for cuts to Labor's promises on Gonski, and on key areas in health policy.

Mr Turnbull and Mr Morrison are exposed, too, for offering nothing to the three in four income taxpayers who earn less than $80,000.

 


Latest podcast episodes

Follow SBS Korean

Download our apps

Listen to our podcasts

Get the latest with our exclusive in-language podcasts on your favourite podcast apps.

Watch on SBS

Korean News

Watch it onDemand

Stream now