BUDGET 2013: The slow road to the black

Labor has entrenched programs it hopes to be remembered for, and put off deficit reduction after being burnt by overly upbeat Treasury projections.

What is almost certainly the Gillard government’s last budget delays the attack on the deficit and concentrates on entrenching “legacy” programs, for which Labor hopes to be remembered.

Dealt a difficult hand in revenue write-downs and a continuing high dollar, the budget expects virtually no improvement in the bottom line between this financial year and next.

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