A high Australian dollar and slowing global economy has certainly impacted heavily on Labor's sixth budget, with the Government giving up any hope of a return to surplus in favour of funding the main Labor initiatives of the Gonski school reforms, the DisabilityCare program, the National Broadband Network (NBN), and the Nation Building Projects (Road and Rail).
Businesses eagerly awaited to see whether the Government was able to come up with a visionary plan for the future to help the economy grow and to turn around the declining revenue collections. Other than the incidental stimulus from the above four initiatives there was nothing major to kick business along. The crackdown on perceived loopholes that are supposedly being exploited by multinationals (such as the thin cap reform) will be a drag on business
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FULL BUDGET ANALYSIS_Moore Stephens 2013 Federal Budget
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