Back to surplus: Federal Budget 2010

Don’t get excited. That’s the message from Wayne Swan as he gets ready to deliver his third Budget tonight. The emphasis will be on reframing this government as one that can deliver, is economically responsible and understands how to plan for future prosperity.

Swan says that the Budget 2010 will be “light on politics and heavy on responsibility”. He told reporters at his traditional media pre-Budget doorstop, that the theme will be to “turn the success of the global recession into enduring gains for all Australians”.

The Age has reported that Swan is expected to announce a return to surplus by 2012-2013, three years earlier than predicted – and boosted by the Resource Super Profits Tax and the tobacco tax slug.

As the Government fights a growing backlash and protractors are portraying Rudd as an ineffective, poor decision-maker who fails to implement policy, Rudd and Swan will talk up their economic management through the downturn.

“What we did together during the global recession was produce the strongest growing advanced economy. We’ve got an unemployment rate of 5.3% – the envy of the world,” Swan says.

Tax payers will be reminded that tax cuts are on the way and there have been hints of further tax cuts to come.

So far there has been nothing for business – but we all live in hope. To find out how SMEs will be affected by the 2010 Budget, come back to SmartCompany after 7.30 tonight or check your inbox for our special Budget 2010 report from the lock-up.


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