The 2015 Australian Federal Budget was the eight in a row which contained a budget deficit. The deficit grew 7% to $37.4 billion. A $4.4 billion family aid package, a $5.5 billion small business package and slowing mineral exports were the largest contributors to the increased deficit. The largest cuts were made to foreign aid which decreased by 29% from 2014. Proponents of deficit reduction argue that governments who do not control budget deficits and debt are at risk of losing their ability to borrow money at affordable rates. Opponents of deficit reduction argue that government spending would increase demand for goods and services and help avert a dangerous fall into deflation, a downward spiral in wages and prices that can cripple an economy for years.
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Response rates from 470k Australia voters.
Trend of support over time for each answer from 470k Australia voters.
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Trend of how important this issue is for 470k Australia voters.
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Unique answers from Australia voters whose views went beyond the provided options.
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No, because reducing spending means someone going without. Govt needs greater revenues so we can pay down more debt AND fund programs people want and need. For example, dental in Medicare.
So, yes, end tax evasion, close loopholes, make corporations pay a fairer share and ditto the higher earners, but NOT a progressively greater tax, which discourages hard work, innovation and people getting ahead.
Maybe implement death duties, exempting the family home up to a value commensurate with the average home, so like $2 mill or thereabouts, indexed. Set it low enough that people don't feel the… Read more
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