Brokers' Budget response

by Mackenzie McCarty15 May 2013

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.

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  • by Keith 15/05/2013 11:00:26 AM

    They couldnt run a brothel how can one a government have any credibility on backdrop of predicting a surplus 12 months ago to an amazing deficit ...and it goes on for 2016/17 and on based on tax receipts which are questionable!

  • by Frank 15/05/2013 11:11:35 AM

    How can anyone believe what this government has to say regarding the budget or anything for that matter. The forecast deficit for the 2012 budget was 22 billion and ended up being $44 billion. The same with this budget. Forecast to be in surplus then 19.4 billion. Any fool who believes a word these economic incompetents say believes in santa clause and the easter bunny.

  • by Just a battler 15/05/2013 12:23:17 PM

    Do they thing the Australian people are morons?
    Ten years to bring the books back in the black?
    If I ran my business like this Government run our country, then I would be out of business in very quick time.
    Swan can make all the excuses he likes, but the truth be known, they have stuffed up