The Coalition’s budget has ensured that its neoliberal agenda remains in intact. It has deepened cuts to social spending while given tax breaks to high income earners and greedy corporations.
The likelihood of Australia meeting its obligations under the 2015 Paris Climate agreement to cut emissions by 26–28% by 2030 (compared with 2005 levels) is becoming a vain hope if budget provisions are any indication.
While federal Treasurer Scott Morrison was spruiking low and middle income families as the “winners” in the federal budget, unnoticed among the biggest “losers” was the Australian Securities and Investment Commission (ASIC).
Labor Opposition leader Bill Shorten delivered his budget reply speech on May 10, promising to deliver a “bigger, better and fairer tax cut for 10 million working Australians”.
Victorian Treasurer Tim Pallas unveiled his election year state budget on May 1, with highlights including increased investment in public transport, health and education, with more than $172 million dollars allocated to make TAFE free for 30 priority courses.