Opposition frontbencher Tony Abbott this morning offered no reason for rising inflation, preferring to blame the inflation increases on the new Rudd government.
Peak oil, rising consumption, lack of public infrastructure and market monopolies were all ignored as contributors to inflation by the former Howard government minister, a staunch defender of deregulation and privatisation.
Federal treasurer Wayne Swan is expected to follow the same path as his predecessor Peter Costello in the May budget, which is expected to feature $31 billion in tax cuts and an $18 billion budget surplus.
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