{"id":23436,"date":"2015-05-12T00:00:00","date_gmt":"2015-05-12T00:00:00","guid":{"rendered":"https:\/\/cms.fiveaa.com.au\/uncategorized\/treasurer-to-deliver-make-or-break-budget\/"},"modified":"2015-05-12T00:00:00","modified_gmt":"2015-05-12T00:00:00","slug":"treasurer-to-deliver-make-or-break-budget","status":"publish","type":"post","link":"https:\/\/cms.fiveaa.com.au\/news\/treasurer-to-deliver-make-or-break-budget\/","title":{"rendered":"Treasurer to deliver make-or-break budget"},"content":{"rendered":"<h3>Treasurer Joe Hockey will deliver his second budget on Tuesday, with families and small businesses set to be the biggest winners.<\/h3>\n<p>In a bid to erase the memory of last year&#8217;s effort which destroyed business and consumer confidence while doing little to curb the ballooning deficit, the government has assured Australians this budget will be &#8220;dull&#8221;.<\/p>\n<p>It&#8217;s scrapped unpopular plans like indexing the pension to inflation, while announcing sweeteners such as tax cuts for small businesses and its centrepiece multibillion dollar childcare package that would leave most working parents better off.<\/p>\n<p>But already it appears the government might have trouble getting some of its new plans through the Senate.<\/p>\n<p>Labor and the Greens say they won&#8217;t support a 2014 budget measure to cut family tax benefits in order to fund the new childcare measures.<\/p>\n<p>And then there&#8217;s the budget deficit, which economists expect will blow out to $41 billion in the next year &#8211; more than double that forecast in last year&#8217;s budget &#8211; with no surplus in sight until next decade.<\/p>\n<p>Economists say it&#8217;s crucial the government gets the balance right in supporting the struggling economy in the short term while making progress on fixing the budget in the long term.<\/p>\n<p>They say it needs to be a budget that lifts confidence and supports jobs amid rising unemployment, while preserving Australia&#8217;s AAA credit rating as falling commodity prices eat away at government revenue.<\/p>\n<p>This year&#8217;s budget is make-or-break for the prime minister and his treasurer, following last year&#8217;s deeply unpopular measures, many of which are dead or locked in the Senate.<\/p>\n<p>Both came close to being shown the door at February&#8217;s Liberal party room spill and continue to face pressure, amid reports Mr Hockey&#8217;s colleagues have called for him to be replaced if this budget flops.<\/p>\n<p>The Labor caucus and coalition joint party room will meet on Tuesday morning to discuss their budget strategies.<\/p>\n<p><strong>SEE ALSO: <a href=\"https:\/\/cms.fiveaa.com.au\/news\/federal-budget-2015\">2015 FEDERAL BUDGET COVERAGE<\/a><\/strong><\/p>\n<p><strong>SEE ALSO: <a href=\"https:\/\/cms.fiveaa.com.au\/news\/hockey-puts-multinationals-on-notice\">HOCKEY PUTS MULTINATIONALS ON NOTICE<\/a><\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>Treasurer Joe Hockey will deliver his second budget on Tuesday, with families and small businesses set to be the biggest winners. In a bid to erase the memory of last year&#8217;s effort which destroyed business and consumer confidence while doing little to curb the ballooning deficit, the government has assured Australians this budget will be [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":23437,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[144],"tags":[],"geo_market":[],"class_list":["post-23436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Treasurer to deliver make-or-break budget - FIVEAA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.fiveaa.com.au\/news\/treasurer-to-deliver-make-or-break-budget\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Treasurer to deliver make-or-break budget\" \/>\n<meta property=\"og:description\" content=\"Treasurer Joe Hockey will deliver his second budget on Tuesday, with families and small businesses set to be the biggest winners. 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