Federal Budget 2014

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Running Time: 4:39

Date: 01/06/2014

The Federal Budget 2014 is now behind us, but what does it really add up to? Let's ask the good Professor.

We've had a couple of weeks to digest the Abbott Government's first budget, so let's seek Professor Neville Norman's opinion on whether the Treasurer took up his challenge to "take the bull by the horns".

By failing to move more quickly on tax reform, Neville tells us the Government's missed a big opportunity to reduce the deficit in a shorter time span.

Beyond that, Neville says, the effect on exchange rates and interest rates will be very little, the door has opened for discussions on increasing GST, and the budget repair levy creates a number of tax planning options.

Professor Neville Norman, Melbourne University