Business decays while Rudd delays

Delaying the election date is a dangerous game for Kevin Rudd. Soon voters will start to see the seriousness of Australia's business activity decline.

Australian business activity is starting to slide rapidly. Whoever wins the next election will face revenue falls that are steeper than treasury’s current estimates. The almost certain August interest rate cut is likely to be followed by more reductions, as NAB reiterated today, and the dollar may fall further. The government should have called an election late August, before the community understood the depth of the business decline. However I now realise an August election was never on the Rudd agenda, especially as he would not have known the depth of despair spreading through the business community.

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