Has industry already made a judgement about who is going to win the upcoming Federal Election and therefore the relevance of Treasurer, Josh Frydenberg’s proposed April Federal Budget?
Outsider asks this question because, on the available evidence, very few sectors appear to have taken the time to file a pre-Budget submission with the Federal Treasury. At the time of writing, he is only aware of one submission having been filed – that of the Financial Planning Association.
Will this prove to be a problem for Frydenberg?
Outsider believes it will very definitely not be a problem for the Treasurer, leaving him free to devise a Budget document aimed at getting the Morrison Government re-elected and free of the pleadings of those self-interested industry lobby groups.
Outsider believes that Frydenberg’s Budget objective is to regain office and, if not, to retain as many Coalition seats as possible as the Liberal and National parties head into a period of enforced introspection in opposition.
Given the amount of time and effort it takes to generate a meaningful pre-Budget submission and the fall-out from the Royal Commission, Outsider reckons some of the major financial services industry groups have probably been right to save their time and ink.