Introduction
The State budget released yesterday is carefully crafted around
delivering on election promises made in the course of last
year's election campaign, and sustaining ongoing infrastructure
investment, especially in transport. It is sobered by reductions in
revenue (primarily from reduced stamp duty returns because of a
lower transaction volumes and prices).
There are a few pain points, most notably required reductions in
public service expenditure, and increases in stamp duty surcharges
for certain property transactions.
Perhaps the most re-assuring aspect of the Budget is its
consistency with what has gone before, demonstrating a commitment
to stay the course, which has proven so far to be both economically
and electorally successful.
