Joe talks down the budget

The budget is in better shape than projected, but Joe Hockey is all gloomy gus

The 2012-13 budget deficit has ended up slightly smaller than Labor forecast in the May budget – but Treasurer Joe Hockey says prospects for 2013-14 are looking even worse now than when the election was called. Mr Hockey said confidence is returning to the economy, but the government will face a challenge to sustain growth as the mining investment boom deflates – and hinted that it is looking at ways to stimulate infrastructure spending. Fairfax