Joe Hockey signals more budget cuts on the way

TREASURER Joe Hockey has signalled more budget cuts are on the way, saying the Government has "no choice" but to look for new savings.

The move has been prompted by the failure to win Senate support for billions of dollars of budget measures and new spending on security and the defence mission in the Middle East.

In August, the Government announced a $630 million funding boost for security and intelligence agencies to better deal with the threat of terrorism.

And the Government has also estimated that the military deployment to the Middle East will cost about $500 million per year.

Mr Hockey said it is "money well spent" but he is looking for ways to cover it.

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