Even Peter Costello who, one way or another, will not be Treasurer in 2005,...

- Rick Eyre, 1.10.04

Peter Costello is still in parliament, still in government, and still the treasurer, and tonight he handed down his 12th budget. He's been lucky that China has been such an avid buyer of Australian natural resources, a phenomenon that is better known under the expression "The Howard Government's strong economic management".

Costello's 2007-08 Budget speech can be read here.

Still a lot of detail to wade through. The tax cuts were predictable, the Higher Education Fund is spectacular on the surface of it. For now, here are the comments of Ross Gittins (SMH) and Matt Price (The Australian).