Originally published in Crikey on May 9, 2013

My fantasy budget would be one that attempted to match the government’s spending to the public’s priorities and one in which taxing and spending policies, otherwise known as fiscal policy, was based on a close reading of simple economic theory rather than a quick skim of what’s trending on Twitter. Australia has one of the lowest levels of tax collection in the developed world and, in turn, we have one of the lowest levels of public spending in the world.

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