Alan Kohler is one of Australia’s most experienced commentators and journalists. Alan is the founder of Eureka Report, Australia’s most successful investment newsletter, and Business Spectator, a 24-hour free business news and commentary website. He also hosts Inside Business, a half-hour Sunday programme on the ABC, is the finance presenter on the ABC News - and producer of the nightly graph (or two).

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Lack of federal budget transparency has allowed profligacy on both sides of politics, and while the Coalition has a plan for reform its hopes for a revenue jump are shaky.

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Comments on this article
Comments PolicyWhat do you think about banks keeping things off book? I suspect not very much after the GFC (Swan and Hockey's fiscal furphies, January 29).
Yes all these non core promises aimed at winning votes on the one day event called the Federal Elections and then the winner becomes an elected dictator if it has an outright majority in seats can then do what it pleases during the next term (Swan and Hockey's fiscal furphies, January 29).
The NBN saga will be very interesting because presumably the spending could be turning into an asset which could be sold off just as Telsta was privatised not so many years ago, so the Libs might need to reconsider their plans to trash the $billions already spent on a potential saleable asset or continue with the ALP plan and then sell it off on completion?
Has anyone ever asked Malcolm Turnbull or his party my question?
Has anybody else noticed the Labor MPs suggesting spending initiatives now that Swan has given up all hope of a surplus (Swan and Hockey's fiscal furphies, January 29). At least while Labor was promoting a surplus there was some hope for fiscal restraint. Now it wouldn't surprise me if the budget deficit blows out even further, especially when you consider the amount of spending that was pulled forward into last financial year or deferred into the future.
Well done on talking about the GDP potentially falling and talking about an Abbott hatchet job at the same time. It will be interesting to see how much the GST take has fallen in Qld since Newman swung away with his axe. Lower aggregate demand is bad for the economy not good for it (Swan and Hockey's fiscal furphies, January 29).
Lower GDP also as another follow on effect, because a significant part of GDP is consumption, the amount of GST declines (Swan and Hockey's fiscal furphies, January 29). So more wining from States, more cuts of Public Servants. Increase pressure on Federal Budget as it as to fund the miserable Unemployment benefit. More cuts and around and around we go. Do any of our Politicians read History or Macroeconomics or are they all dumbed down Lawyers?
Rob, spending cuts are staring Labor in the face, it's just that Labors socialist policies and union demands don't allow them to happen (Swan and Hockey's fiscal furphies, January 29).
The NBN for example, all "off budget",as they call it, items have to be paid for out of tax payer funds. Recouping these costs are long term and reliant on fees and charges leved on us for the service. Their early predictions indicate that the cost will not be much more than what we pay for the internet now, making the assumption that it is going to be a very long time before the network is in the black. My problem is the dictorial approach taken by this government. It's the NBN or nothing, forcing many Australians already facing economic hardship into more debt as they struggle to retain a facility that is part of the 21st century. The coalition policy basically retains fibre optic technology but offers an option of retaining copper wiring from node to home. All this at a fraction of the cost. Sure the speed won't be supersonic, as some have said, but will still be 10 times faster than what we already have.
Both the carbon tax and MRRT are costing tax payers, not generating revenue, as we were told. Changes to the "Fair Work" act and removal of union workplace dominance will free up business creating employment and productivity. Who knows Australia may once again become competitive.
As for those that are still complaining about our public service, it's time you woke up. Successive state Labor governments and our current commonwealth Labor government used the public service to keep unemployment figures down. These jobs didn't exist in the first place, consequently costing the Australian tax payer billions of dollars, as they bloated the service. We had to pay for these jobs, that were invented by a government that saw it's own vanity as more important than the welfare of Australians.