THE DISTILLERY: Budget balderdash

Jotters largely pan Canberra's budget update, with one labelling the revenue argument a 'rhetorical scam' and highlighting poor Treasury forecasts.

Prime Minister Julia Gillard did some groundwork yesterday for the pain that will have to be inflicted with the upcoming budget. Where once there was a tiny surplus, now there is a large and widening deficit. Australia's business commentators quite simply tear into Gillard and the Labor government for the explanations offered as to why, after six years, they have read the tea leaves so badly.

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