This budget summary is presented in an environment of political uncertainty. We have a federal election in the next 2 weeks and in the event of an A.L.P. victory, it is likely that they will develop a “mini budget” in June to incorporate some of their stated policies.

An electoral cycle of three years is not a lot of time to implement economic policy and in the event the A.L.P. are successful, we expect them to hit the ground running.

Note that this budget is handed down in a politically charged atmosphere – as such we stress that at all times, we strive to be apolitical while paying due respect to the government of the day.