Australian Treasurer strikes sour note on government budget

Australian Treasurer Wayne Swan yesterday warned of a "dramatic" hit to the government's bottom line due to falls in commodity prices, steeling voters for an austere budget in an election year.

Swan said government revenues had taken a "massive hit" from a plunge in its terms of trade - the value of exports measured against imports - with prices for its key mining products down but the Australian dollar remaining high.

via Business feed http://www.scmp.com/business/economy/article/1193287/australian-treasurer-strikes-sour-note-government-budget