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The Turnbull government has been focused on jobs and growth in their recent budgets, as their main weapon to reduce the Federal Deficit.
In a difficult year marred by the Citizenship Saga which had many Senators and Members of Parliament disqualified from office, it remains a difficult task to have policies passed through as legislation. This coupled with poor showing in the opinion polls has Prime Minister Turnbull under pressure to improve on the financial front.
The Australian economy has continued to perform well despite the confusion, largely due to strong foreign investment and a construction boom in NSW and Victoria. This has kept housing affordability at the front of the conversation and last years announcement to remove the Capital Gains Tax Free status for an expatriates former principal residence remains a major issue of concern.
With interest rates remaining low, a Bank Royal Commission and a senate ready to block legislation without negotiation, Australia remains an interesting political and economic environment.
The 2018 Budget will be a strong guide into the effectiveness of the current Governments fiscal prudence and needs to find a way to encourage further economic expansion while protecting the general population. It could be the last opportunity for Prime Minister Turnbull to silence his critics through performance.
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