Abbott’s new age of entitlement

DESPITE Treasurer Joe Hockey's calls for an "end to the age of entitlement" before taking office, the Abbott Government has given business $500 million more than it has cut.

A Productivity Commission review of trade and assistance was released Wednesday; examining subsidies, tax breaks and grants to industry and the Japan-Australia trade agreement.

The review found the Abbott Government, in the year to May 2015, cut $1 billion from various assistance programs, but allocated another $1.5 billion through its Industry Innovation and Competitiveness Agenda.

Among other findings, the review showed the government's trade agreement signed with Japan should have been more rigorously assessed before signing, and it fell "well short" of what was needed to ensure the right decisions were being made on the trade.

- APN Newsdesk