The wealthy and corporations got a visit from Santa Claus, but the rest of us got Scrooged again on Budget night.
A windfall in tax income — derived in part from higher than expected royalties and corporate taxes in the mining sector, owing to higher prices for iron ore, coal and oil — provided ideal conditions for the government’s pre-election budget.
There was never a chance that Treasurer Scott Morrison would use this windfall to boost social spending — that just wouldn’t accord with the Malcolm Turnbull government’s “trickle down” economics.