Possum puts it into perspective.
"It makes you wonder why the government even bothered. Treasury’s revenue estimates are usually out by more than that every year – so don’t be surprised if, ultimately, the levy turns out to have not been needed to bring the budget back into surplus in 2012/13."
Actually, it'll contribute to the forecast surplus in 2012-13 scarcely at all.
$1.6 billion of the 1.8 billion will go to the 2011-12 budget.
The 2012-13 budget gets just $0.2 billion.
Like I said, mostly harmless.
. Expect worse. Swan on the economic impact
. GDP to take a $7 billion hit, mostly in one quarter
. Knock me down with a feather - the levy that'll tickle