Graham this notion that money does not grow on trees and a scorched earth economic policy that brings in austerity is absolute rubbish.

Money is like oil to an engine. It facilitates the smooth interaction of its parts. The big differenced being, money costs nothing to produce but our system charges us a fortune to use it.

When even our inflationary money gets created as debt,any advantages in growth are quickly eroded. We are paying to have our currency depreciated via inflation and even our growth gets expressed as debt by the private banking system. It is total economic slavery.

Unless we move back to Govt own banks, we will never pay off the debt as China has slowed and strategically they want suppliers not aligned with an imperialist USA/West. Even our Ex PM Malcolm Fraser say we need to grow up and become independent.

Abbott has done the Greens and Clive Palmer a big favour. The Major Parties will have less power.

re: Abbott has done the Greens and Clive Palmer a big favour. The Major Parties will have less power.

Yes. Bring it on. Australia needs an Idi Amin to collapse the whole ediface and then re build the country by some other party.

Graham, your analysis while interesting is perhaps tinged with a degree of optimism for the future of the Liberal Party that it will struggle to achieve. I commend to your attention the comment by Hugh McKay in yesterday's SMH. He points out how this budget fails on a number of perspectives. Perhaps most importantly it betrays a vision of a future Australia that is at odds with the type of country most of us would wish it was.

Few of your respondents refer to "lies" or "broken promises" because we have come to see that as the norm for politicians.

There is and was scope for radical changes in our financial structure, but this Budget gave no hint that the government was willing to grasp the necessary levers. Instead, we have seen a mean spirited attack on the most vulnerable groups in our society, while the privileged minority continue to get a blessed ride.

I would add that the medical research grant that is being much trumpeted does not disguise the fact that this government is the most anti-science retrograde government in living memory. No money (or even mention of climate science) but $250 million for school chaplains! Give us a break.

Call for Election Action over manifestly unfair budget 2014. Would you support this or not?

The 2014 budget is manifestly unfair for the vast majority of Australian voters and could even cause a recession.

Unless the following are addressed we voters will campaign in the 2016 Federal election to replace each federal MP (regardless of party) who votes for the budget as it is or for any expansion of GST, with priority given to the most marginal seats:

1. Whilst it needs to be rectified sensibly, the national debt & deficit were justified as well recognised economic strategies for fending off the Global Financial Crisis
2. It is quite okay for our children and grandchildren to help clear debt that was created in protecting their interests and providing assets they will use, like schools, hospitals and roads.
3. Companies are separate legal entities just like people and should be taxed accordingly. The tax rate on companies earning under the personal threshold of $18,000 should be nil and on those earning over $200,000 should be 45%, just as for individuals, not a mere 30% (the rate paid by individuals over $37,000 p.a.) as now. This would vastly increase debt-clearing tax revenue.
4. Companies should remit all GST collected to the ATO instead of keeping most of it for themselves as they do now. They already get a tax deduction for GST paid on income earning expenditure (as should all individuals) but should not be able to offset GST paid against GST collected for the ATO.
5. Tax minimisation and minimisation advice should be outlawed.

Voterland, Call for Election Action over manifestly unfair budget 2014. Would you support this or not?

YES

Graham. thank you for your article. My own personal opinion is that over the past six years Australia has been governed by a government that would do anything to stay in power, anything. What I wanted out of the new government was stability and honesty whilst re-building the economy. I did not want to look up the news daily to see what was happening to day. It seems to me that too many decisions were made by an unstable government on the run.
What I expected from the present government was stability, honesty and well thought out plans that would suit the entire nation not just specific areas or easy marks. There is a whole range of areas where savings could be made before attacking medicare and the poor. For instance nobody has mentioned capturing the cash economy, trusts and superannuation where the rich can do whatever they want to.
I know $2.00 co payment is going to medicare but I would like to ask where the $5.00 co payment is going - is this money going to private research facilities? Who will own any patents that come from this research, the taxpayers of Australia or the private research companies? Medical research patents are worth millions, has anyone in government discussed this?