{"id":24348,"date":"2014-12-16T05:14:41","date_gmt":"2014-12-15T18:14:41","guid":{"rendered":"http:\/\/nofibs.com.au\/?p=24348"},"modified":"2019-04-16T13:31:24","modified_gmt":"2019-04-16T03:31:24","slug":"climate-environment-boards-slashed-by-joe-hockey-in-myefo-says-takvera","status":"publish","type":"post","link":"https:\/\/archive.nofibs.com.au\/climate-environment-boards-slashed-by-joe-hockey-in-myefo-says-takvera\/","title":{"rendered":"Climate, Environment Boards, Foreign Aid slashed by Joe Hockey in #MYEFO says @Takvera"},"content":{"rendered":"

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\nThe Abbott Government slashing of climate change infrastructure continues in the latest Midyear Economic Forecast by the Treasurer Joe Hockey, where it was announced the Commonwealth deficit has blown out to more than $40 billion and forecast not to return to surplus until 2019-20 at the earliest.<\/p>\n

Hockey attributed this budget blowout<\/a> to reduced commodity prices particularly revenue from iron ore and coal, low wage growth with larger than expected family payments and other government benefits expenditure.<\/p>\n

Joe Hockey was quick to criticise Labor’s budget deficits and promises to return to surplus, but it seems he may never deliver a surplus<\/a>, according to Peter Martin, Economics Editor of The Age<\/em>. Hockey pledged after Labor’s 2012 budget that, “based on the numbers presented last Tuesday night we will achieve a surplus in our first year in office and we will achieve a surplus for every year of our first term”. Being in Government it seems, is not as easy as it seems.<\/p>\n

Wayne Swan was quick to compare the budget deficit forecasts by Labor against the current Liberal deficit forecasts:<\/p>\n

\n

Lib deficit blowout mainly caused by trashing talking the econ, tax cuts to big polluters\/miners & tax rorters #MYEFO<\/a> pic.twitter.com\/8CWvgEUcvP<\/a><\/p>\n

— Wayne Swan (@SwannyQLD) December 15, 2014<\/a><\/p><\/blockquote>\n