This briefing paper is an attempt to dig beneath vague claims about economic competence and friendliness to business, and consider more concrete indicators of economic progress.

Labor Opposition Senate Leader Penny Wong claims the Government has tripled the budget deficit in two years, and increased net debt by $100 billion since coming to office.

This study quantifies the macroeconomic and welfare effects of three proposed fiscal measures to eliminate Australian government budget deficits and to reduce public debt by 2030, namely: (i) temporary income tax hikes; (ii) temporary consumption tax hikes (increases in the GST rate); and (iii) temporary transfer payment cuts.

Treasurer Joe Hockey has warned that Australia is at a tipping point and living beyond its means.

Treasurer Joe Hockey claims the Government is paying one billion dollars every month in interest on the debt that Labor left.