The Budget we had to have

It’s the Federal Budget the Albanese Government didn’t want to have. Just days before the Prime Minister was planning to swing by the Governor General’s residence, Mother Nature had other plans. Labor faced a far more fierce competitor than the Coalition – a natural disaster called Alfred. As the ex-tropical cyclone ripped through South East Queensland, it also turned the lights out on Labor hitting the go button for an April election.

This left the party powerless against the highly undesirable, but unavoidable, necessity of delivering a budget directly before an election during a cost-of-living crisis. A tall order for the finest of political operatives.

Both Prime Minister Anthony Albanese and Opposition Leader Peter Dutton have been touring the nation since January in a pre-election campaign curtain raiser for the real event. Labor’s been strategically trickling out its budget pledges for months to maximise media mileage and bang for its budget buck. The Coalition has been following suit.

In his fourth budget, Treasurer Jim Chalmers delivered a stirring address to parliament as his boss sat silently behind him, hoping his treasurer hit the right notes to secure him a second term.

There was only one major announcement the government kept under wraps before budget night – income tax cuts for all Australian workers. The $17.1 billion spend means a saving of $5 per week, per person, which will barely buy a loaf of bread. But ‘tax cuts for everyone’ has a real election ring to it.

The Coalition’s not missing the marketing opportunity to slap slogans on policies it opposes. It labelled Labor’s central shopping spree item ‘a cruel tax hoax’ as it voted against it in parliament on March 26. In his budget reply, Peter Dutton added fuel to the fight, pledging a $750 annual saving for drivers by halving the petrol excise.

In an era when the world is tightening its fiscal belt to fight inflation and curb cash flow, both sides are dabbling in some serious retail therapy.

It began with the $7.2 billion upgrade to the Bruce Highway, with Peter Dutton quick to match the plan for his home state.

Then there was the $8.5 billion injection into health, with nationwide focus groups indicating investment in bulk billing would resuscitate Labor’s weakening pulse in the polls. The Coalition gave the policy a clean bill of health and backed it in also.

In mid-March the Prime Minister announced a $150 energy rebate for households and small businesses. Again, no argument from the Coalition. Refusing voters energy bill relief would send shockwaves through any Coalition candidate or incumbent in a marginal seat.

The federal government will provision an extra $1.2 billion towards recovery after ex-Tropical Cyclone Alfred. But Alfred’s inconvenient timing could cost Labor a lot more than that. Polls point to the PM keeping his job, but several of his colleagues may not be so fortunate. Delaying the election meant delivering a budget before voters go to the polls, having a campaign over Easter school holidays, and a week of budget estimates. This was a gift from the political gods for the Opposition.

Election promises from both sides are now backed in as budget measures, which begs the question: What sweeteners are left for the actual campaign? When it comes to big figures, the highest ones may arguably be the number of times the Coalition labels Labor’s key policy ‘a tax tweak’ and Labor returns fire with ‘Peter Dutton’s secret cuts’. If the national coffer earns a dollar every time these catch phrases are spouted over the election campaign, it’ll be back in the black by election day.