Why did Joe Hockey move to a ‘real’ budget scare this week?

Clime Investment Management

Clime Investment Management

Treasurer Joe Hockey earlier this week warned that the iron ore price plunge could tear a $25 billion hole in the budget over the next four years. But Hockey also said the Government ‘wasn’t going to chase the fall in revenue’; i.e. the Government wasn’t going to hit Australians with new taxes to plug the revenue gap. What Hockey was saying was simple and blunt: Australia will now face a huge and ongoing budget deficit. Previously the Government said this was possible, but now it is real. This change to a ‘real budget scare’ is an important shift in how the Government is running the taxation debate. (VIEW LINK)

Clime Investment Management
Funds Management & Stock Research
Clime Investment Management

The Clime Group is a respected and independent Australian Financial Services Company, which seeks to deliver excellent service and strong risk-adjusted total returns, closely aligned with the objectives of our clients.

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