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This was published 10 years ago

Federal budget 2015: Joe Hockey delivers the budget

Stephanie Peatling
Updated ,first published
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And there I will leave you.

What happened?

  • Treasurer Joe Hockey delivered a budget that urged people to look on the economic bright side;
  • it contained a lower than expected deficit and lots of goodies for families and small business;
  • the government says it is fair and responsible but the Opposition says much of the nastiness of last year's budget remains, and
  • the talk of an early election has begun.

My usual thanks to Andrew Meares and Alex Ellinghausen for their work.

Thank you to you for your company throughout the day and evening.

Alex, Andrew and I will be back in the morning.

See you then.

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Earlier on I was saying the talk inside the budget lock up was that this budget had the hallmarks of an early election budget.

The Sydney Morning Herald's political editor, Peter Hartcher, writes that the budget is all about election style promises.

"Abbott seeks absolution for his last budget and appreciation for this budget," Hartcher writes.

"If he sees any evidence of it in the polls in the weeks and months ahead, he will be sorely tempted to call an early election to forestall any possible leadership challenge from his own side and to catch the other side off guard."

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And one more, I can't help myself.

Government MP Philip Ruddock kisses Melissa Babbage, Joe Hockey's wife.

Treasurer Joe Hockey with his children Ignatius, Xavier and Adelaide Hockey after handing down the budget on Tuesday.Alex Ellinghausen
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Like father, like son.

Treasurer Joe Hockey and his son Xavier Hockey in the House of Representatives on Tuesday.Alex Ellinghausen
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More nice Hockey family pictures.

The Treasurer's family Xavier Hockey, Ignatius Hockey, Melissa Babbage and Adelaide Hockey listen to the budget reply speech in Parliament on Tuesday.Alex Ellinghausen
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The independents are, understandably, not giving too much away about their budget positions.

David Leyonhjelm thinks the government is spending too much and doing too much.

Nick Xenophon is happy with the small business package but upset that the government did not commit to build the new fleet of submarines in South Australia (remember that hoary chesnut).

Jacqui Lambie is also giving a thumbs up to the small business initiatives but it concerned that the government has not done anything on higher education this time around. She remains opposed to the family tax benefit changes that were part of last year's budget.

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A few titbits I picked out of the budget papers while I was in the lock up:

  • $131.3 million for telecommunications companies to meet the costs of the government's new data retention regime;
  • five new diplomatic posts will be opened - the single largest expansion of the diplomatic network in 40 years,
  • a new Australian Border Force; and
  • a "myth busting communications campaign" around the issue of vaccination.
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And:

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How will this year's budget fare Senate wise?

The instant reaction does not looking promising.

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For now the job of commenting on the budget for the Opposition goes to treasury spokesman Chris Bowen.

Mr Hockey wants people to feel confident about the economy and to spend.

Mr Bowen disagrees.

"Economic confidence is lower because of Joe Hockey's actions and words," Mr Bowen tells ABC television.

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