Economics Update: The 2014/15 Budget

May 15, 2014

On Tuesday night, the Coalition government released their budget for 2014/15.

This is one of their fiscal policy tools that they can use to manage the economy.

The budget effects the level of economic activity, resource allocation and income distribution. It can also influence the achievement of the government’s objectives of economic growth, internal and external balance.

There have been mixed responses from this budget with students, families, education and health expected to take some cuts.

Below are some useful articles on responses to the budget.

This is the Budget Papers as released by the Commonwealth Government.

  •  ABC “Winners and Losers”

A simple compression of key areas of spending and cuts made in the budget

http://www.abc.net.au/news/2014-05-13/budget-winners-and-losers/5433178

  • The Australian

The responses from State governments about the budget and how it will effect them

http://www.theaustralian.com.au/national-affairs/states-prepare-for-battle-over-budget-cuts-to-schools-hospitals/story-fn59niix-1226917083021

These articles and analysis are an awesome thing to include in short and extended responses to get you those band 6 results!

 

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The upcoming April school holidays present a fantastic opportunity—not just to catch up, but to get ahead of what’s to come. 
For Year 12 students, the next Term is particularly intense, with a race to complete all course content before the Trial Exams. Students who do very little over the break will find themselves under more pressure during the term, especially alongside school, sport, co-curricular and social commitments. 
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