BUDGET 2014/15 – ANU EXPERTS RESPOND

Treasurer Joe Hockey has delivered the Abbott Government's first budget, announcing higher taxes for the wealthy and on petrol, new fees to visit the doctor, tighter welfare rules and cuts to health and education spending. ANU experts have responded, and discuss the budget and its implications for Australia. POLITICS - PROFESSOR JOHN WANNA - Australian New Zealand School of Government "After all the fuss and the kite-flying, and pretending it was going to be a tough budget, the 2014-15 budget was fairly underwhelming. If the government stands by its decisions, most are long term and do not repair the deficit in the short term. Much of the government's initiatives are simply winding back measures that the Howard, Rudd and Gillard Governments put in place over the past 14 years. "It will probably be regarded as a lost opportunity to make more fundamental changes, despite business escaping the Treasurer's clutches." ECONOMICS AND TAX DR PAUL BURKE - Crawford School of Public Policy - ANU College of Asia & the Pacific "The re-indexing of fuel excise to the consumer price index just means the excise will stay the same in real terms. What was a shrinking tax rate will now be a stable tax rate.