It’s always important to remember that it is just a budget, the same that any household or company would prepare. Assumptions are made; forecasts are taken.

For instance the first forecast for the 2011/12 budget outcome was made in May 2008 and a surplus of $18.9 billion was projected. By May 2009 that estimate had blown out to a deficit of $44.5 billion. The deficit for the twelve months to March was just above $38 billion and the latest estimates project a deficit near $44 billion for the current financial year.

But at the end of the day most people want to know what’s in it for them. It doesn’t matter whether you are a student, pensioner or CEO of a major company.

So we have decided to make this analysis different.

Sure, there are the usual tables, graphs, facts and figures. But we reckon that there are only three questions most people want answered and that’s where we will be concentrating:

• Did the Government get it right?
• What does it mean for Australia?
• Who are the winners and losers?

To read CommSec’s budget analysis, click here.

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