you need to think outside the box, page-10

Looks like fiscal controls to offset loose monetary policy are on the way as I posted previously.

IMO the Libs are getting in, but I bet they will also undertake the same approach, albiet instead of increasing taxes they will slash and burn spending.

http://www.news.com.au/money/cost-of-living/david-bradbury-fails-to-rule-out-tax-increases-to-plug-8-billion-revenue-shortfall/story-fnagkbpv-1226687306929

AUSTRALIANS could be slugged with tax increases as Labor looks for ways to plug its revenue black hole ahead of the looming election.
Assistant Treasurer David Bradbury would not rule out increases to tax levels as the government's razor gang prepares to meet in Canberra today.
"We will be releasing the details of any of our deliberations in due course and I am not going to speculate on particular issues or in the general," Mr Bradbury told ABC radio when asked specifically to rule out tax increases.
"Obviously we are facing some revenue write downs and all of this is occurring against a backdrop of sluggish global growth and of course the mining sector.
"The mining boom is moving into a new phase … and that presents its own challenges for the economy as well."
Labor is facing a predicted $8 billion slump in revenue and still remains committed to bringing the budget back to surplus in 2016/17.
Mr Bradbury's comments come as the government's expenditure review committee - of which he is a part - meets today in Canberra to look at ways to deal with revenue shortfalls and maintain its commitment to bring the budget back to surplus.
It will deliberate before a full meeting of cabinet also in Canberra today.
An updated economic outlook - the pre-election fiscal outlook - is due to be released this week and will unveil the true state of the nation's finances.
The PEFO is generally released before the election campaign.
It now looks unlikely that Australians will go to the polls before September, with an August 31 election all but ruled out.
If Prime Minister Kevin Rudd was to call a late August poll he would need to ask the Governor-General Quentin Bryce to issue the writs before 5pm today.
September 7 is firming up as a more likely date. This is despite the G20 leader's meeting in Russia being held on that weekend.
But it is thought if Mr Rudd boycotts that meeting he will show that he is truly a changed man and is more interested than running the country than strutting the world stage.
Deputy Prime Minister Anthony Albanese this morning said parliament would resume on August 20 if an election campaign was not already underway by that date.
Asked about the return of parliament Mr Albanese said: "of course" it would convene on August 20.
"That's the reason why you put out the timetable," he told ABC radio.
Legally the election could be held as late as November 30.