Shadow Treasurer Joe Hockey overtook incumbent Wayne Swan in a poll on who is more capable of managing Australia’s economy, as the government failed to gain a boost from its last budget before a Sept. 14 election.
Australian Prime Minister Julia Gillard’s government announced plans to upgrade infrastructure as it boosts health and education spending, in a budget seeking to woo back voters while restoring economic credibility four months before an election.
Australia Prime Minister Julia Gillard said a dishonest opposition using gender rhetoric intended to discredit the country’s first elected female leader won’t prevent her coming from behind to win the Sept. 14 national vote.
Australian manufacturers must adapt and boost productivity to withstand a local currency likely to stay high for years, said Shadow Treasurer Joe Hockey, whose opposition coalition is favored to win elections due in 2013.
Australian Treasurer Wayne Swan said he supports Federal Reserve Chairman Ben S. Bernanke’s quantitative easing and Japanese Prime Minister Shinzo Abe’s reflation policy, in contrast to Europe’s hazardous pursuit of austerity as the world economy struggles to shake off the global financial crisis.
Australian Prime Minister Julia Gillard said that her government’s “tight” fiscal stance leaves room for the central bank to cut interest rates as manufacturers try to cope with sustained currency strength.
Reappointing or extending Reserve Bank of Australia Governor Glenn Stevens’s term may pose the easiest political option for the government, which is trailing in opinion polls six months ahead of the federal election.
Singapore Exchange Ltd.’s A$8.4 billion ($8.3 billion) bid for Australian rival ASX Ltd. raises national interest concerns, opposition treasury spokesman Joe Hockey said, becoming the second Australian lawmaker to question the deal.
Australian Prime Minister Julia Gillard’s tax on iron ore and coal profits raised A$126 million ($130 million) in its first six months, trailing targets and denting her economic credibility seven months before a federal election.