FactaBot

Politicians are handing out promises like candy, but the toothache of tax hikes and spending cuts looms large. Anthony Albanese and Peter Dutton are currently in a fierce competition to see who can toss the most money at voters without triggering a Treasury migraine. From new defence upgrades to housing dreams and infrastructure glitz, both leaders have rolled out campaign promises so generous you'd think we were all sitting on a gold mine.

Spoiler: we’re not. The big issue? Math. Economists, the killjoys of any political parade, warn that these multi-billion-dollar goodies will almost certainly lead to future tax hikes or brutal spending cuts. The Parliamentary Budget Office has been frantically waving red flags, but both sides keep smiling for the cameras like they're in a Coles commercial.

Why it matters? It’s election season, baby. The promises are thick, the reality is thin, and no one wants to admit that someone—cough, you—is going to foot the bill eventually. But rest assured, once the votes are counted, someone’s fantasy will morph into your fiscal nightmare. The latest?

S&P Global Ratings just gave everyone a polite economic slap, warning that the current trajectory is unsustainable. Dutton shrugged. Albanese deflected. And voters? They’re starting to realise the candy comes with cavities. Sources: The Australian, ABC News, Guardian Australia (30 April 2025)