• Advertise
  • About us
  • Terms and Conditions
  • Contact us
Monday, March 23, 2026
Australian Times News
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
  • Lifestyle
    • Entertainment
    • Horoscopes
    • Health & Wellness
    • Recipes
  • Travel
  • Expat Life
  • Move to Australia
No Result
View All Result
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
  • Lifestyle
    • Entertainment
    • Horoscopes
    • Health & Wellness
    • Recipes
  • Travel
  • Expat Life
  • Move to Australia
No Result
View All Result
Australian Times News
No Result
View All Result
Home News

Abbott concedes there will be budget pain

Prime Minister Tony Abbott says it'll be "pain with a purpose" in the budget as a new survey shows consumer confidence at its lowest in five years.

Colin Brinsden, AAP Economics Correspondent by Colin Brinsden, AAP Economics Correspondent
13-05-2014 04:40
in News

Tony Abbott concedes his government’s first budget will inflict pain on Australians, but insists it will be for a purpose.

The prime minister describes it as a problem-solving budget for a nation that has debt and deficit stretching “as far as the eye can see”.

“Yes there’s got to be short-term pain, but it’s pain with a purpose,” he told Macquarie Radio in Sydney on Tuesday.

“But it’s also a nation-building budget.”

Mr Abbott will seek to calm backbench nerves about the budget at a coalition party room meeting on Tuesday morning, as a new survey showed consumer confidence tanking to its lowest level in five years.

The budget is expected to include co-payments when visiting the doctor, a temporary levy on high income earners, a future rise in the pension age to 70, the reintroduction of indexation on fuel excise and big cuts to the public service.

Treasurer Joe Hockey believes it is a “terrific” budget that will shape the destiny of the nation.

AlsoRead...

Design Without Compromise: Where Gutter Protection Meets Modern Architecture

Design Without Compromise: Where Gutter Protection Meets Modern Architecture

20 March 2026
The Rise of This Lead Generation Workshop Across Australia

The Rise of This Lead Generation Workshop Across Australia

13 February 2026

“If you are only looking in the budget for your own interest then you may be disappointed,” Mr Hockey told reporters in the traditional pre-budget walk-in to parliament house.

“But if you are looking for the national interest you’ll be cheered.”

He said there will be an economic growth package in the budget with innovative workforce participation measures that will help create the jobs that are so necessary.

But Opposition Leader Bill Shorten expects it will be a mean budget that will impact on the cost of living of all Australians.

“This is a broken promise budget full of bad news and Australians deserve better,” he told reporters in Canberra.

The budget will also include the commonwealth’s biggest ever spending on infrastructure.

Mr Abbott confirmed new roads will in part be funded through the increase to the fuel excise, the first rise since indexation was frozen by the Howard government in 2001.

The Australian Greens have confirmed they support the move, ensuring it will get through the Senate.

But Greens Deputy Leader Adam Bandt says they will oppose a temporary debt levy on high earners, arguing it should be a permanent one.

Labor backbencher Kelvin Thomson is thankful the budget is finally being brought down, given speculation of its contents has hit consumer confidence.

The ANZ-Roy Morgan consumer confidence index has fallen a further 2.4 per cent in the past week and a hefty 11 per cent in three weeks to its lowest level since May 2009.

“I think it is unfortunate that the government has allowed so many hares to be set running during the pre-budget period,” Mr Thomson told reporters.

Junior treasury minister Steven Ciobo believes people will always reward a government that makes tough decisions if they are in the long-term interests of the country.

“The party’s stopped. Labor’s reckless spending has come to an end.”

Tags: Australia budgetAustralian economyAustralian politicsdeficit levyNews in AustraliapoliticsTony Abbott
DMCA.com Protection Status

SUBSCRIBE to our NEWSLETTER

[mc4wp_form id=”2384248″]

Don't Miss

Design Without Compromise: Where Gutter Protection Meets Modern Architecture

by Fazila Olla-Logday
20 March 2026
Design Without Compromise: Where Gutter Protection Meets Modern Architecture
Business & Finance

Design without compromise by integrating gutter protection seamlessly into modern architecture. Discover how innovative gutter systems enhance your home’s aesthetics...

Read moreDetails

How WageSafe Secured Australia’s Most Reputable Retail Business Among Its Premium Clients

by Fazila Olla-Logday
12 March 2026
How WageSafe Secured Australia’s Most Reputable Retail Business Among Its Premium Clients
at

Learn how WageSafe helps businesses stay compliant with payroll and wage regulations through reliable monitoring, risk management, and expert support—protecting...

Read moreDetails

Zakeke AI Agent Studio Removes the E-Commerce Content Bottleneck With Outputs in Seconds

by Fazila Olla-Logday
3 March 2026
Zakeke AI Agent Studio Removes the E-Commerce Content Bottleneck With Outputs in Seconds
at

Zakeke AI Agent Studio removes the e-commerce content bottleneck by generating product content and visuals in seconds, enabling brands to...

Read moreDetails

Empire Traveller launches to give Small and Medium Businesses Enterprise-Level Travel rates

by Pauline Torongo
20 February 2026
Empire Traveller launches to give Small and Medium Businesses Enterprise-Level Travel rates
Travel

Empire Traveller suggests the travel sector may be entering a more inclusive phase — one where advantage is shaped less...

Read moreDetails

Is Feng Shui Master Xu Really A Modern Genius?

by Fazila Olla-Logday
19 February 2026
Is Feng Shui Master Xu Really A Modern Genius?
at

Is Feng Shui Master Xu truly a modern genius, or simply a master of timeless wisdom? Blending ancient Feng Shui...

Read moreDetails

The Rise of This Lead Generation Workshop Across Australia

by Pauline Torongo
13 February 2026
The Rise of This Lead Generation Workshop Across Australia
Business & Finance

“Where U?”, is a two-day in-person lead generation workshop that teaches Australian business owners how to build their own acquisition...

Read moreDetails

Lyca Mobile Australia’s Customer-First Overhaul Pays Off with Finder Award Win

by Fazila Olla-Logday
2 February 2026
Lyca Mobile Australia's Customer-First Overhaul Pays Off with Finder Award Win
Technology

Lyca Mobile Australia’s customer-first overhaul has earned a Finder Award, recognising its improved value, service, and stronger focus on Australian...

Read moreDetails
Load More

Copyright © Blue Sky Publications Ltd. All Rights Reserved.
australiantimes.co.uk is a division of Blue Sky Publications Ltd. Reproduction without permission prohibited. DMCA.com Protection Status

  • About us
  • Write for Us
  • Advertise
  • Contact us
  • T&Cs, Privacy and GDPR
No Result
View All Result
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
  • Lifestyle
    • Entertainment
    • Horoscopes
    • Health & Wellness
    • Recipes
  • Travel
  • Expat Life
  • Move to Australia

Copyright © Blue Sky Publications Ltd. All Rights Reserved.
australiantimes.co.uk is a division of Blue Sky Publications Ltd. Reproduction without permission prohibited. DMCA.com Protection Status

No Result
View All Result
  • News
    • Weather
    • Sport
    • Technology
    • Business & Finance
      • Currency Zone
    • Lotto Results
      • The Lott
  • Lifestyle
    • Entertainment
    • Horoscopes
    • Health & Wellness
    • Recipes
  • Travel
  • Expat Life
  • Move to Australia

Copyright © Blue Sky Publications Ltd. All Rights Reserved.
australiantimes.co.uk is a division of Blue Sky Publications Ltd. Reproduction without permission prohibited. DMCA.com Protection Status