Treasurer Joe Hockey reveals midyear budget update next Tuesday The Treasurer Joe Hockey with the Deputy Prime Minister, Minister for Infrastructure and Regional Development Warren Truss, during Question Time in the House of Representatives in Parliament House Canberra. AUSTRALIANS will get a better look at the state of the nation's finances when the government unveils its midyear budget update next Tuesday. Treasurer Joe Hockey confirmed during parliamentary question time today the date of the eagerly anticipated financial blueprint as December 17. It will be the first time the Coalition unveils how it intends to fund certain programs and what cuts it will make to balance the budget bottom line. "I will release the midyear economic and fiscal outlook next Tuesday at the press club," Mr Hockey told parliament. I am going to there, lay down before the Australian people in all of its detail, the state of the budget we have inherited from Labor and the state of the economy we have inherited from Labor. Among the key takes from the midyear economic and fiscal outlook, known as the MYEFO, will likely be how the $1.2 billion the Coalition said it would invest into the Gonski school funding scheme will be funded. The impact of the Coalition's revamped border protection regime is also likely to be another key take along with the state of the overall economy and whether the nation has slumped into even more debt.