Election looms over Australia's budget
Election looms over Australia's budget Australian Treasurer Scott Morrison's budget on Tuesday will double as an unofficial election campaign launch. Small tax cuts and spending on health, infrastructure and education have already been foreshadowed or announced. The cost of these will likely be offset by closing tax loopholes for multinational companies, ending some pension concessions for the wealthy and hiking tobacco taxes. The opposition says the reforms are too modest and favour the wealthy. Prime Minister Malcolm Turnbull will dissolve parliament and call an early election on or before 11 May. Australia will almost certainly go to the polls on 2 July. Tuesday's budget will form the backbone of the Liberal-led coalition government's pitch to voters for re-election. For a moment on Monday, Australian Treasurer Scott Morrison appeared to forget the date for his own budget, insisting in parliament it was two days away. It's due to be announc...