Federal Budget 2014: What Treasurer Joe Hockey says and what he really means

TREASURER Joe Hockey’s budget speech was predictably full of spin and buzz words. But this is what Joe was really saying on budget night.

THERE might be lots of numbers and tables and graphs, but budgets are also full of one other big thing: spin.

Joe Hockey’s first Budget is certainly no exception.

Touching on grand ideas of prosperity and patriotism, the Treasurer’s speech to Parliament urged all Australians to “contribute and build”.

REVISIT: Shadow treasurer Chris Bowen joined our experts to take questions on all things Budget-related. See how it unfolded.

It warned the pain is about the “national interest” and “modest contributions” will be needed.

Big concepts like “growth plans’ and “action strategies” featured and even peculiar words like “catalyse” were in there.

You might also wonder what on earth a “sustainable source of future productivity-enhancing road funding” is.

So what does it all mean when you cut to the chase and strip away all the spin?

“Growth plans” ... Treasurer Joe Hockey works on his Budget papers with Finance Minister Mathias Cormann at Parliament House.

“It is time, for all of us, to contribute and build.”

Put simply we all are going to feel pain in the hip pocket.
Whether it is paying $7 extra to see the doctor or more each time you fill up at the bowser, the government’s Budget decisions will mean your family budget will take a hit.

But this is what is needed, it says, if you want to see things like new roads and new jobs.

“This Budget is about the national interest.”

What they mean here is don’t just think of yourself, as hard as it may be.

Even though the increased charges for fuel and medical services and the changes to welfare might seem cruel, consider the country and future generations.

Grin and bear it.

“The age of entitlement is over.”

This isn’t the first time Joe Hockey has used this now famous phrase.

Don’t believe the handouts will continue coming, is what the Treasurer means.

If you currently receive welfare or the pension and can work you should.

Deal with it ... You know the age of entitlement? It’s well and truly over, says Treasurer Joe Hockey.

“The days of borrow and spend must come to an end.”

As a country we can’t keep shelling out the cash and then going back to the bank for more.

Instead the Coalition is looking at ways to raise money, through the debt levy, a GP co-payment and fuel excise hike, to help pay for things.

No more using the government credit card.

“There is no easy way to repair the Budget.”

Sorry this is not going to be pain free.

If you earn more than $100,000 no more Family Tax Benefit Part B.

If you’re a high income earner get ready to pay a deficit levy.

If you drive, petrol is going up.

“A smaller, less interfering Government won’t need as many public servants.”

Thousands of jobs will go.

At least 16,500 to be exact.

The government believes there is currently too many people working in the public service and too many agencies doing the same job.

Shaking things up ... the Treasurer warns pain is in the “national interest” and “modest contributions” will be needed.

“Australians under 30 years of age should be earning or learning.”

We won’t keep giving you money when you could have a job.

The government believes too many young people are sitting on their hands, when they could be putting them to good use.

So from now on those under 30 will have to wait six months until getting the dole.

“Health services have never been free to taxpayers so patients are being asked to make a modest contribution towards their cost.”

You’re going to pay $7 extra to see a GP.

You might have thought the doctor’s visit was free before, but think again.

The bill has always been picked up by taxpayers, but that can’t continue.

“The 2014-15 Budget marks a major step by the Government to transform the role of government in people’s lives.”

In other words we’re shaking things up.

No longer will welfare be a given, or those who can work able to sit on their hands.

There will be a bit of tough love, but only so the government can afford to continue funding services.

Slash and burn ... this Budget was never going to be pain-free.

“Growth package.”

This is all about building things. Big things.

Roads, rails, ports and airport infrastructure.

Which means one thing: jobs.

“Economic Action Strategy.”

This is simply a fancy way of saying this is our grand plan and the budget is part of it.

Tough love ... Joe Hockey says every Australian will be hit in the hip pocket.

“Catalyse nationwide infrastructure.”

This can be translated into kickstarting building.

Australians will see work starting on projects like the WestConnex in Sydney and East West Link in Victoria from next year.

“Establishing a sustainable source of future productivity-enhancing road funding.”

You’re going to pay more when you fill up your car, so you can then drive on new roads.

The government is reintroducing the twice yearly fuel excise hikes, previously frozen under John Howard.

The increase will raise $2.2 billion over the next four years to help pay to build and upgrade roads.

Originally published as Federal Budget 2014: What Treasurer Joe Hockey says and what he really means