By Crowdfund Vibe Editor
The Australian Government has just handed down a tough, ideologically-driven budget that axes many government programmes, reduces benefits and abolishes dozens of government agencies.
Amongst a staggering range of headline cuts it has slashed funding for health and education, cut funding for film and the arts, and is proposing a six month waiting period for unemployment benefits for those under 30. The tenor of the government’s budget is similar to that of the 2008 Budget of the UK Conservative-Liberal Coalition albeit without the underlying Global Economic crisis that drove financial austerity there. Political opponents have attacked it as one that looks after the big end of town at the expense of the young, the aged, the unemployed and women. Commentators say it will undermine core values and the social fabric of the country.
A number of the 2014 Budget announcements will have an impact on crowdfunding in Australia.