With a larger than forecasted budget deficit and no expectation of returning to a surplus for at least three years, what might this mean for the upcoming election? Here's Harry Frost again with more insights.
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00:00There were few surprises in today's budget, with the vast majority of measures having
00:07already been announced in the weeks leading up to today.
00:09And when it comes to major infrastructure projects, further surprises appear pretty
00:14unlikely.
00:15That's because the existing list of projects, including things like light rail stage 2A
00:19from the City to Commonwealth Park, are considered by the Government to have put industry at
00:23100 per cent of its capacity already.
00:26With an election looming, stability and continuity is the picture the Government wants to project.
00:31In contrast, the Opposition wants to act like Rail to Woden and take a different approach
00:35to issues like cost of living relief, health and housing.
00:39But far from signalling an end to spending announcements for the immediate future, from
00:43today announcements and rhetoric will only ramp up as the major parties work to win over
00:48voters in the lead up to the October poll.