It’s difficult to find words to adequately describe the spectacle of the Abbott government setting about hiking income taxes and fuel excise in its first budget. “Beyond belief,” as one of the prime minister’s colleagues quipped, comes close.

From the man who promised no new taxes, and argued that “no country has ever taxed its way to prosperity,” here come the new taxes.

Governments are not like businesses. They provide services because the citizens demand them, not because delivering them is profitable. They collect taxes from citizens, not charge prices from customers. While a business has a legal responsibility to maximise the dividends it pays its shareholders, it makes no sense for a government to generate a surplus from its own citizens.

Federal Treasurer Joe Hockey has been accused of inappropriately using a senior economist conducting an independent review of government policy as a "drawcard" for a $3000-a-head budget day fundraising event for the NSW Liberal party.

Shadow Treasurer Chris Bowen has written to Mr Hockey voicing his concerns about the appearance of Professor Ian Harper on a list of speakers at an exclusive event organised by a secretive Liberal Party fundraising body, the North Sydney Forum.

Members of a secretive fund-raising body associated with Federal Treasurer Joe Hockey are being invited to pay $3000 each to be part of an exclusive budget day event attended by his most senior staff and key ministers.

The new line to Rouse Hill, which will also take over the existing Epping to Chatswood line, will run as a shuttle train to Chatswood.

For residents of nearby stations such as Beecroft and Cheltenham, this will mean that they will have to catch three trains to get to the centre of Sydney. At present they can catch one.

Mr Smith told the meeting at the Cheltenham Recreation Club that in time services on the north-west rail link would be extended from Chatswood to the city through another harbour crossing.

''Obviously it will be built after this north-west rail link is complete,'' Mr Smith, the Member for Epping and until recently the attorney-general, said.

I admire Bruce Petty.

He is quite older than I am, yet he has a far superior satirical contemporary expression than I can muster. Bruce Petty's brush or pen or finger is all over the place like an annoying fly we chase with an Aussie salute. But the flight path of the lines is but than random as we soon discover the cutting purpose of the graffiti-like penmanship. 

Over the last 80 years, there has been many medical ways to deal with health, including taking a hunch... As well the western world has been warming up to some of the old remedies from the East — the Chinese. I am lucky, All I need so far is a bit of acetylsalicylic acid twice or so a year to help cure a hangover...

I was going to write a self-inflicted hangover but a hangover is always self-inflicted...

The International Monetary Fund's board this week signed off on a $17 billion bailout for Ukraine, whose economy has been weakened by months of upheaval and a stand-off with Russia.

Ukraine's previous two IMF programs were suspended after the government did not stick to earlier promises, such as raising natural gas prices. This time, the IMF required Kiev to implement 12 reforms before receiving any money.

The following highlights some of the IMF's new requirements:

Energy Sector