Hockey will inherit none of Swan's luck

The end of the commodities boom should be good news for Australia's non-mining economy, but likely treasurer in waiting Joe Hockey faces a much unhappier revenue reality.

Just when we’re getting used to one reality, everything changes. At the time of writing, yesterday’s sell-off in Australian equities due to poor economic data from China looks set to be exacerbated today by global uncertainty flowing from the shocking news of the bombing of the Boston marathon.

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