The current national Liberal Party policy seems to be limited to 1) balance the budget without added revenue, and 2) cut revenues they don't feel they should collect. The result is that the mining tax will go away, and due to very low tariffs and deletion of subsidies that ameliorate the effects of the strong AU$ that Aussie ores create, most manufacturing will go away. Ford and Holden closing up shop is just part of the trend.
So, yah want an information economy to go with those fries? Sorry mate, costs more than we want to spend, and what would you do with all that bandwidth, anyway? You don't know, you say? Back in my day, dialup was good enough. What does YouTube have to do with it?