Budget rundown
The federal budget will be unveiled tonight with many economists eagerly anticipating how the predicted surplus of up to $13 billion dollars will be spent. While speculation on tax cuts has been rampant, Treasurer Peter Costello has been silent on the issue, instead promising welfare reform to encourage more people back into the workforce and leaking details on plans to meet skills shortages in child care. One plan already leaked involves government grants for parents to upgrade their homes to accommodate small child care groups, which aims to provide more day care places and encourage mothers back into the workforce. However, much is yet to be revealed. Paul Drum, from accounting lobby group, CPA Australia, spoke to the Wire’s Bill Birtles from Canberra earlier today about what’s in store: