FROM THE DESK OF Roland Rocchiccioli – May 2, 2019

Many were left shaking their heads when Federal Treasurer,
Josh Frydenberg, delivered his maiden budget speech. For safe Labor seats, Ballarat and Bendigo, it was a stinker! Not a farthing!

APPEARING on ABC 7.30, Mr. Frydenberg crowed triumphantly the national budget was now in surplus. When Leigh Sales proposed the 2018-19 budget (and we are still in that financial year) remained in deficit to the tune of $4.2 billion, Frydenberg disagreed. The surplus estimate was, he contended, a credible trajectory for the financial year 2019-20, and beyond. The current deficit was implacably ignored. Estimating budget surpluses is an inexact science. The numbers are based on credible guesstimates of the prevailing fiscal elements in forward financial years. An unenviable, challenging task.

Former Treasures, Joe Hockey and Wayne Swan, overestimated, disastrously.

If, as polling suggests, the Coalition suffers a devastating routing (and a much-needed generational clean-out) on 18 May, it matters little since, tax cuts notwithstanding, Labor is unlikely to accept any part of Mr. Frydenberg’s budget, which many commentators have savaged in the roundest possible terms, even suggesting pork barrelling – a metaphor for the appropriation of government spending for localised projects to attract voter support in marginal seats; which brings us directly to the Liberal seat of Corangamite. The incumbent, Sarah Henderson, is being challenging by Labor candidate, Libby Coker. According to the Australian Electoral Commission, recent changes to electoral boundaries eroded the Liberal margin from 3.1% to 0.03% in favour of Ms Henderson, and making it a speculative Labor gain. Ms Henderson has a fight to hold-on, however, having won the seat from Labor in 2013, no-one could question her commitment and vigour. Conversely, after speaking-out against the inhumane, live animal export trade, her change of heart, and subsequent supporting vote in the parliament, was both regrettable, and curious. In the sacking of Malcolm Turnbull she turned down a possible ministry rather than support Peter Dutton, “Imagine the disgust of the people I represent,” Ms Henderson said.

While Ballarat and Bendigo did not warrant a mention, or garner a brass razoo, on budget night, the Geelong region, part of which falls into the perilously marginal seat of Corangamite, was rewarded with a lucrative package, including a $2 billion Geelong Fast Rail, despite project ambivalence from the Andrews’ Labor Government. Ms Henderson said in Parliament on 4 April 2019, “As soon as the state government can match this funding – we’re calling on the state government to match this funding — and is willing to build this rail line, the money will be there.” It is hypothetical: if the Liberal Party win the next election: and if the State government is a willing partner, the Geelong Fast Rail will materialise, but until then, it remains an electioneering aspiration. The swirling narrative suggesting pork-barrelling in the Geelong region is reason for voter disquiet.

Ignoring Ballarat and Bendigo for budget funding is politically dubious, and galling. It insinuates a calculated, vindictive, party-political strategy to hamper the endeavours of those voters who failed to show support at the ballot box. That is lamentable. The restoration of Her Majesty’s Theatre, ($5-million), and the duplicating of the Ballarat rail track, are matters of some urgency. Like Geelong, Ballarat is a major regional city. Fifty-years hence it will have a different and important raison d’être. Now is the time to balance its future infrastructure. Her Majesty’s Theatre is one of a couple of surviving Victorian-era theatres in Australia. There is no equivalent in Sydney or Melbourne. The lack of funds for its restoration is a disgrace.

Former Liberal treasurer, Peter Costello, concluded, “We’ve stopped promising things for the year head; we’ve stopped promising things for the next term; we’ve stopped promising things for the term after the term, even. We’re promising things in the term after the term, after the term.”

That is unsettling!

Roland can be heard every Monday morning – 10.30 – on radio 3BA or contacted via [email protected].