Without real reform, Hockey’s budget pain will be for nothing

Peter Costello is right to discredit the government's proposed GP co-payment. Far more rigorous reform in healthcare, aged care and tax is necessary to avoid long-term fiscal catastrophe.

Treasurer Joe Hockey believes the federal government has an overarching plan that will balance the books and avoid a fiscal crisis. Unfortunately, the steps taken in the budget are inadequate and will fail to address our most pressing fiscal challenges. In light of that, the Coalition should take the advice of former Treasurer Peter Costello and dump the $7 GP co-payment.

A lot has been written about the fairness of the budget but relatively little attention has been given to whether it will meet the Coalition’s two fundamental goals: returning the budget to surplus and avoiding a long-term fiscal crisis.

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