So the first Hockey MYEFO came out today. For all the talk about cutting spending etc. again the evidence is simply not there. After the May budget I superimposed the spending from the last Swan MYEFO on the spending from the budget and found a very small difference (I’m being polite here).
So I thought I’d do the same thing again – superimpose the spending from Swan’s last MYEFO on Hockey’s first budget and the MYEFO data from today.
Can you see the blue line that represents the spending that Swan had planned? No. Me neither – it is entirely covered by the spending that Hockey has planned. In other words, there has been no cut to spending, simply spending rearranged. In the next picture I’ve placed markers on the blue to illustrate the point.
So the next time you hear a politician talking about cuts to spending be sure to ask them, “What cuts are those?”