Wild ride as Frydenberg revolutionises the budget rules
This week’s free-spending budget marks a seismic moment in Australian politics – opening up dangerous traps for Labor and the Coalition.
All aboard for the ride. From left: Paul Keating, Wayne Swan, Joe Hockey, Scott Morrison, Josh Frydenberg, Anthony Albanese, Jim Chalmers. David Rowe
For the best part of the past quarter century, the fortunes of Australian treasurers have flourished or died by the iron ore price.
As this week’s budget demonstrated for anyone who had forgotten: revenue from China for the steel-making dirt and the rivers of federal taxes it generates is still the great wildcard of Australia’s political economy.
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