Budget 2009 - Instant rection

Well geez that was boring! One of the things about all the Budget leaks is that there aren't really any surprises.

My reaction? It wasn't as 'tough' as I thought it would be. Raising the pension age to 67? Pfft; I've already realised I'll probably be going till I'm 70!

I'm disappointed they're continuing with the first home buyers grant a the current rate for another 3 months. I think they should go back to the old rate for buyers, and keep the current rate for those who build.

Aside from that, I'll have to read the papers to work out what happened.

The instant reaction from the newspaper web sites is interesting (I won't link as it's just to the front pages and they'll change soon):

The Australian: "The Worst of Economic Times - Swan's Tough Budget Lifts Pension Rates"
The Herald Sun: "Swan Gets Tough - Retirement Hopes Slashed"
The Daily Telegraph: "Scissorhands Swan"
The Courier Mail: "You'll Work Harder For Longer"
The Advertiser: "Rough Budget For Tough Times"
Perth Now: "Retirement Age Rises to 67"
SMH: "Tough Budget and Times"
The Age: "Hard Budget, Hard Times"
ABC: "Budget 09: Wayne's World of Pain"

All of which suggests the early reports are going with the Government's line that tough decisions have been made - not surprising the Govt would have media releases all good to go, and journalists will always use the media release first and then come up with something else later (or not, if they are lazy). Will these still be the headlines in the morning? I'll have a check around tomorrow and see.

Turnbull gets to respond on Thursday night. He'll ratchet up his Churchilian mode and most likely come out with nothing. Given his very poor performance in Question Time today, and Press Gallery lunch speech last week, I don't expect anything good.

Ross Gittins gives his intitial response from inside the Budget lock-up - very interesting to see how they work out their response and analysis (am trying to get the video to work - if not go to it here):