$4B_Surplus, page-6

its now a year gone and certainly some of the legacy remains. I've not said though that the Lab Gov hasn't done anything. Now they truly are having ownership of the economic management.

just as new information can change the circumstances as well as beliefs, so too its a gradual process of taking over as the legacy of the last Gov fades.

they've now gone through the legacy failures and removed them from the equation.

but much of the windfall has come from the lower AUD:USD exchange rate, the record profits by exporters due to the foregoing and increasing demand from China, and added in are increasing wages PAYG and reduced unemployment benefit costs. So some of this is due to Lab management, some due to external factors and some due to getting rid of non-functioning waste legacy projects.

as such the Lib component of the current economy is reducing slowly to zero..... i.e. whatever failings occur are all down the Labs.

I've noted a few failures, errors of judgement and poor reactions to media.... nothing major so far as I can see. but I have to admit I admire their restraint and fiscal discipline.