Gillard mustn't bruise a budget surplus

In light of favourable polls, Labor may be tempted to soften its budget stance. This would be a mistake for many reasons, not least the flow-on effect of higher interest rates.

Labor must not use its recent recovery in the polls to alter its big picture macroeconomic policy agenda of tight and targeted spending and a return to budget surplus.

With the polls showing Labor closing in on the Coalition, there might be a temptation for some in the government to flick the economic policy switch to some populist agenda to try to build on this favourable political news.

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