Australians voted an inexperienced government in to handle a financial crisis.
Looks like they have blown it in 6 months.
"$40 billion Budget hole
Treasurer Wayne Swan said today there was no point trying to sugar coat the impact of the global crisis on Australia.
"The global financial crisis has smashed a $40 billion hole in the Budget,'' he said.
Part of that hole will be caused by an expected drop in tax revenue. The share market turmoil is partly to blame for this, with capital gains tax expected to fall dramatically. "
They have just given away 10 billion and are going to cancel 5 billion in scheduled tax cuts. People who earn the money know best how to spend it.
