Tax hike on the wealthy passes lower house
Although highly criticial of the budget, Labor has helped pass one of its key measures - the temporary tax hike on the wealthy.
Although highly criticial of the budget, Labor has helped pass one of its key measures - the temporary tax hike on the wealthy.
"The age of entitlement is over. It has to be replaced, not with an age of austerity, but with an age of opportunity," Hockey says as he delivers his maiden federal budget.
Treasurer Joe Hockey expects his first budget to be criticised if people just look at their own interest rather than for the good of the nation.
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.
Tony Abbott says that when it comes to fixing the federal budget, everyone has to chip in and do their bit.
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