Newspoll; Chief Scientist Finkel
In yesterday’s Commentary I said that, while an early election as suggested by Terry McCrann would risk the Morrison government being portrayed as a “cut and run” attempt at winning and avoiding outstanding issues, it would have the potential to bring the Liberal party closer together and take advantage of various issues on which Morrison seems actually or potentially head of Shorten, including the now near absence of Turnbull as a policy maker. In particular, an election in March would “lock in” the likely favourable budgetary and economic forecasts in the MYEFO publication (next Monday) and prevent any significant change in the Pre-Election Economic and Fiscal Outlook (PEFO) which is made by Treasury before an election.
An Early Election?
In Thursday’s Commentary I referred to the view of The Australian’s political editor (Dennis Shanahan) that Morrison still has a “last chance” of winning the election. In Weekend Australian Shanahan acknowledges that “the Liberal Party is in a mess” but also points out that “Labor finished the last week of parliament for the year on the back foot over national security and border protection, giving Morrison a reprieve from the dismal Liberal outlook. The Prime Minister was able to declare there would be a budget surplus next year, he changed Liberal leadership rules, intervened to stop a preselection brawl, asserted his authority over Turnbull and avoided an embarrassing defeat on the floor of parliament”
Disappointing Budget Assessment
A huge amount has been written about the 2018-19 Budget presented on Tuesday by Treasurer Scott Morrison as a 7 year plan to make personal income tax “lower, simpler and fairer” (see Morrison on Effect of Tax Cuts). But the proposed changes in the structure of the income tax system are not worth considering other than as possible thoughts for future budgets. There will be at least three more elections by 2025 and many thoughts raised or proposed about the structure. It is already apparent that the proposed changes in the tax treatment of those on high incomes will not get through the Senate and neither will the already proposed further reductions in company tax.
Newspoll & Policy Deficiences; Budget Outlook; Melbourne Killer
Following my Commentary of 10 December my computer became unusable for over a week and I missed the opportunity of commenting on the final Newspoll for 2017 on 18 December. Despite inclinations in some media that the Coalition might improve, its TPP remained at 47/53 and, although the “Better PM” indicator lifted Turnbull’s to a poor 41 (from 39), Shorten’s also rose to 34 (from 33). Both leaders’ performances were left at a miserable 32 “Satisfied”. Various events/decisions by the Leaders seem to have cancelled each other out and the swing of 5% against the Liberals in the 16 December Bennelong election can be regarded as “normal” for a by-election . But the deficiencies in Coalition policy stances remained extant and the Coalition needed a much better than normal outcome.
Time for a Long Summer Holiday?
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