Last night’s Budget announcement has been labelled many things over the past twelve hours, but what does it actually mean for brokers and their clients?
Loan Market broker, Marios Rokka, says he was impressed by the level of honesty portrayed in the state of the nation, but that he was surprised by the deficit and the fact that Australia won’t likely see a surplus until 2016/17.
“The way the budget was delivered spoke volumes about our economy…This clearly shows that we are not in a strong economic position and although we are not in a weak position either, the government is telling us that this is just where we are at. With some structure and no-nonsense cuts, we will not worsen the economic position of the country.”
Independent Mortgage Planners managing director, Craig Morgan, largely agrees, but says he’s not convinced the cut-back measures go far enough.