The Wire

Many economists are challenging the very premise Treasurer Joe Hockey has built his first budget around – that Australia has a debt crisis. While debt has been on the rise and our population is ageing, economists and politicians like Clive Palmer are questioning the need to cut so deeply at the foundations of Australia’s health, welfare and education systems. Cuts that the states will bear the brunt of – a move that is likely to seem them push for an increase in the GST.