Xenophon: New mini-Budget will be needed

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From the ABC comes news we can all look forward to:

The Prime Minister Tony Abbott will head to Indonesia this morning to begin almost a fortnight overseas, leaving his senior colleagues with the unenviable task of trying to increase support for the budget.

The Independent Senator Nick Xenophon is predicting the Government might be forced to announce a mini-budget later this year, because it’s struggling to find enough Senate votes for some crucial measures.

Another Independent, the Tasmanian MP Andrew Wilkie is so opposed to the Government’s economic plan that he’s calling for the parliament to block supply, which could bring on a new election.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.