Following the release of the final Budget Outcome figures for the 2003-04 Budget, the government and opposition held press conferences.
The Treasurer, Peter Costello, said the underlying cash surplus of the Budget was $8 billion, $3.5 billion higher than expected. This was due to an additional $1.8 billion on the revenue side and $1.7 billion of reductions on the expenditure side.
The Shadow Treasurer, Simon Crean, appearing with the Shadow Finance Minister, Bob McMullan, said the Howard government was the highest taxing and spending government in Australia’s history, and families were under financial pressure. [Read more…]
Announcing his shadow ministry, Latham emphasised the need for the “protection of the physical security of all Australians”. He has appointed Robert McClelland, reportedly the final deciding vote in last Tuesday’s leadership election, to the Homeland Security portfolio, a name derived from a similar post created by President George W. Bush in the United States. 
This follows the announcement this morning by Simon Crean that he is 
“I won’t be a candidate for the leadership,” Crean said.