Tax cut slashed from budget

The Federal Government will defer indefinitely $1.4 billion in tax cuts

Tax cut slashed from budget

Climate Change Minister, Greg Combet, announced yesterday that the Federal Government will defer indefinitely $1.4 billion in tax cuts which were set to be introduced in 2015 to compensate for the carbon price.

These cuts were to be achieved in 2015 by lifting the tax-free threshold from $18,200 to $19,400 and to be funded by revenue raised from the carbon tax. Original modelling for the carbon tax was based on a forecast of $29-per-tonne for the price of carbon by 2015-16, but with the European price crashing to below $5 per tonne, this figure has been revised down to $15 leaving the Federal Government scrambling to fill a $3 billion revenue void.

While the tax cuts have been deferred and not scrapped, Fairfax newspapers are reporting that Mr Combet said the tax cuts will be reinstated once the international price of carbon passes $25.40, which doesn’t look likely in the foreseeable future.

This announcement comes just days after the Finance Minister, Penny Wong, confirmed the Federal Government would not go ahead with the promised boost in family payments under Family Tax Benefit (A).

Read more from The Australian.
Read more from The Age.

What happened to conservative predictions?

Just days out from the Federal Budget, the Federal Government has been embarassed by another promise broken as a result of irresponsible modelling.

With the Federal Budget to be released next Tuesday, one can only imagine the panic in the Labor ranks around the country, with Wayne Swan counting the numbers and suggesting last-minute measures to make the books look more respectable. This panic is a direct result of a $17 billion shortfall in revenue due to errors in Treasury modelling.

Taking a look back at the $29-per-tonne forecast for the price on carbon as a prime example, there is nothing conservative about this prediction. From January 2008 when the European price on carbon was trading at over €20 per tonne, the markets saw a small rise and then a consistent fall in the price, trading at just €6.76 per tonne in December 2010 and hitting a record low of €2.81 in January 2013.

How can the 'experts', i.e. Treasury and the government of the day, get it so wrong? If we look back to May 2010, Wayne Swan promised to bring the budget into surplus by 2012/2013. He continued to tell this story alongside Prime Minister Julia Gillard until just five months ago when they realised attempting to have a surplus for the sake of a surplus was irresponsible and totally unrealistic.

I am involved in modelling of budgets for online marketing campaigns for YOURLifeChoices and when I present my figures for campaign approval, I submit three versions. A conservative figure (one which I know can be achieved under any circumstances), an expected figure and a best-case figure. Perhaps the government should take a page out of my book and start with realistic modelling, otherwise we may find ourselves in a similar position in 12 months time.

Do you think the current Federal Government can manage a budget? Are they over-promising and under-delivering? 





    COMMENTS

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    sensible senior
    9th May 2013
    12:43pm
    Hi Drew, I have worked on many a budget and please note Wayne Swan has not been right once.I don't believe he is giving us a true picture on th situation, it will take us forever to come back to a surplus, not in my lifetime anyway. He keeps on trying to tell us how great he is and that it is the gfc. I say the coalition left us in surplus, and Peter Costello made sure that the banks were safe not like other countries, he has put through programmes without thought and the $900 he gave me i saved. With regards super Peter Costello banked asset sales in the future fund, Mr. Swan has not put one cent into this fund since in power i could go on and i know i am going to get flack from the rather large labor posters on this site so here goes.
    ozykiwi
    9th May 2013
    1:01pm
    To Sensible Senior.......I could not agree more with your comment. You certainly won't be bagged by me, but I know there are many out there that will always vote against the Liberals no matter how much the current government makes a mess of things. Another day another stuff up. Bring on the election !!!!
    Robbie
    9th May 2013
    4:59pm
    Hi Sensible Senior. You seem to have forgotten that the banks 'were government garuanteed' by Rudd. His spending on pensioners (12 years of Howard and not a cent increase (please don't mention 'cost of living adjustments as a pension increase because even Minister Amanda Vanstone said you couldn't even buy a milk-shake with the CPI indexation!) flowed through the economy and saved the economy from the fear gripping the world economy as a result of the GFC. Australia missed the bullet with which other OECD countries are still struggling with.
    sensible senior
    10th May 2013
    10:36am
    robbie the banks did not need to be guaranteed by rudd and dont give me his increase for pensioners he did away with the bonus and incorporated the utilitiy allowance which i believe was approx 250 dollars a year. australia missed the bullet because we were left with a surplus by the coalition. the oecd countries are struggling because they did not secure their banks. god forbid if we have another gfc we would be like all the other countries. and another point kevin rudd was pushed my malcolm turnbull into giving that increase in pensions, pity julia gillard did not do the same for newstart, unemployment, etc.
    sensible senior
    10th May 2013
    11:23am
    Robbie this man above Mr. Combet was asked to front the enquiry on the so called training by Maitland where Combet gave him his approval

    9th May 2013
    1:14pm
    As I understand it Government revenues have increased 30 per cent whilst Labor have been in power so it not a case of revenue being short but spending being out of control.
    Now by legislating for future spending Labor is leaving a legacy to future governments I.e taxpayers to bear the burden.
    It's easy to be the hero on education disabled and defense if you know you won't be around to pick up the tab.
    Robbie
    9th May 2013
    5:07pm
    Dear Pete. Taxpayers bore the brunt of the two wars Howard got us in (Iraq & Afganistan) but you seem to have forgotten those. You also forgot to mention the first pension increase in twelve years from the ALP government in Canberra, the spending of which reinvigorated the Australian economy as a result of events happenings overseas. Economies are a state of mind and as such are much given to fear i.e. 126 billion US$ wiped out in three minutes due to a false rumour that President Obama was injured by an explosion in the White House: not true. Mr Murdoch's glove puppet: Tony Abbott has done his best to talk the economy down these last three years. If the economy slows down it's because people are frightened of an Abbott PM ruining the economy with his $75,000 baby bonus which this country can't afford. The levy on bussiness will be passed on to the tax payers. Any other policies from Abbott? I won't hold my breath!
    Anonymous
    9th May 2013
    5:32pm
    Well we can go into the money wasted by both governments I for instance do not agree with the family bonus brought in by Howard. and think this money better spent on the real needy pensioners and the disabled. Abbott has already released some policies including paid parental leave which I also disagree with. But compared to labor these guys are misers it seems and aqutreck has the numbers that it takes four to five years for the conservatives ( how I wish they were ) n power for the economy to recover from the socialists spending spree.
    ekbg2002
    9th May 2013
    1:21pm
    Most definately. Nothing will be achieved in Australia this year...it is an election campaign and they are just trying to sucker us in! I reckon I could manage budget better, plan for future better. I resent their huge pay packs and lifetime rewards when Aussie battlers are suffering. They have no idea what the real Aussie is.
    LENYJAC
    9th May 2013
    2:56pm
    HOW DARE THESE OVERPAID ALPS TELL US TO TIGHTEN OUR BELTS WHEN THEY ARE LAUGHING ALL THE WAY TO THEIR BANKS..........
    Robbie
    9th May 2013
    5:12pm
    Dear ekbg2002. You have never looked closely at what politicians do have you? I don't suppose you know any either? Politicians work very hard under very trying conditions, but you probably don't know any and you wouldn't know this! As for Aussie battlers: when was the last time that interest rate were this low? The Australian Economy has GROWN 30% since Labor came to government. How much bigger, faster and more robust does the economy have to grow for the 'Aussie Battlers' to appreciate?
    sensible senior
    10th May 2013
    10:38am
    robbie how much has the expenditure grown by.
    Bea's mum
    9th May 2013
    1:31pm
    Sensible Senior I could not agree more. It is well known that Labor cannot manage money. It would surprise me if the $17B remains that low. The election cannot come soon enough!!
    Sapper
    9th May 2013
    1:32pm
    Having drawn up many budgets in the past, the first thing I always did was put down what I had spent on various things during the last financial year (obviously not the one we were in, as it hadn't finished yet). I then reviewed it all, looked at how things were going this year and then came up with predictions for what I would need next financial year. I then waited to be told how much I was going to be allowed to budget and then went back and "massaged" my figures until they fitted this overall total. Not very complicated, but apparently beyond the capability of our current Treasurer. Let's hope the next Treasurer is substantially better - even though the result of his budget will inevitably be painful for all of us!
    Robbie
    9th May 2013
    5:17pm
    Dear Sapper. If by the next Treasurer you mean David Hockey, I wouldn't think the IMF would give him a gong as treasurer. When he says that proposed tax cuts and largesse from the Federal Government had to be posponed because of the changing circumstances of the global economy, he said people were robbed! Does that sound like circumspect language for a proposed treaurer to be? Think not!
    sensible senior
    11th May 2013
    9:26am
    Robbie who is david hockey
    Anonymous
    11th May 2013
    9:44am
    I think he is a painter SS
    retroy
    9th May 2013
    2:03pm
    I too have been involved in the supervision of budgets for large businesses and with the best of intentions, some factors can be unpredictable.
    However, to get it so wrong repeatedly as this mob has, should prove to even the most dyed in the wool labor voters that they are simply incompetent, and always have been.
    They have been feeding us spin for so long but sooner or later the truth comes out and as Dame thatcher said "the trouble with Socialists is that sooner or later they run out of other peoples money to spend" It has been our money that they have squandered.
    Australia Inc is a business and you need business acumen not the experience of running a trade union, being a social worker, or being a lawyer (even one with some uncertain history)
    Perhaps the labor stalwarts finally agree as they are not flooding this blog with their leftist dogma as they usually do.
    Time to go
    Robbie
    9th May 2013
    5:22pm
    Dear retroy. The trouble with Thatcher is that her legacy is still haunting Brittain today. Prime Minister Cameron is stuck trying to get the British economy going. Have you seen the British Government debt? Have you followed the destruction of the British economy under Thatcher? Conservatives give the billions of pounds in stimulus to the banking sector who sit on tax payers money: not lending it out as they should have. Look at what Japan has done after more than 20 years of stagnation. They are printing money and mandating a 20% increase in wages to get spending flowing through the economy. Don't hold your breath for the conservatives to do the same under Abbott.
    Anonymous
    11th May 2013
    9:18am
    The UK is following the same pattern as Australia . The conservatives go in and repair the damage done by Socialists this normaly takes four to five years.
    Unfortunately the Conservatives are restrained by the uk Liberals.
    However with the recent stro g showing by the UKIP maybe now they will get some backbone. Otherwise Cameron look out Boris is on the prowl.

    9th May 2013
    2:19pm
    Perhaps there is something in the old saying " if you are not left when you are young you have no heart if you are not right when you are older you have no head"
    Robbie
    9th May 2013
    5:25pm
    Dear Pete. Why is it that people on the Left care about education: disability support: the environment: social security, whilst people on the Right care about only themselves? 'Them & Us' comes from the Right. 'No such thing as Society' said Thatcher. I prefer a heart to a head of stone.
    Robbie
    9th May 2013
    8:11pm
    You obviously don't know the size of telephone boxes. Newman will be a 'once only' term government. You don't know too many Queenslanders. The drop in Newman's popularity was the greatest drop in Commonwealth history. Do you think people will overlook this when the election comes around? Wait till privatisation hits them when he said he wouldn't go down that road! Like all conservatives: 'Say one thing" do another' just like Tony Abbott will do. We live in interesting times!
    Anonymous
    9th May 2013
    11:55pm
    The people on the right care about education disability support the environment
    The elderly and anyone in need .
    But we would like to get our money as close to the problem as possible. So we are against large distant beurocracies against five year plans for pragmatism over ideology. And abhor waste of public monies. and celebrate the individual over society as Maggie said .
    sensible senior
    11th May 2013
    9:25am
    it is health that is the wealth not gold or silver
    sensible senior
    18th May 2013
    8:41am
    Robbie i live in Queensland and what Anna Bligh and her labor party did to this state was criminal. Money donated by the floods was not completely passed on, sale of assets, 62 billion in the red. I admirfe Campbell Newman for taking the stand he has done and look at your sneaky government come up here bragging about what they are going to do with regards rail and only putting in 25% towards it, the rest to come out of the g.s.t. that the state gets. Albanese,Rudd and Swan should hang their heads in shame how they spruiked on television about the state government.
    aquatrek
    9th May 2013
    2:23pm
    ALP supporters - not a one in sight [txt] ? Oh I know - they are all busy on FaceBook hitting the like button demanding that Juliar resign. Whats the point of just Juliar leaving - what about the rest of the rat pack ?
    https://www.facebook.com/AlpSupportersWhoWantJuliaGillardToResign?hc_location=stream

    It always takes about 4-5 years to claw back to sensibility after the ALP have raided the coffers and committed any following government to attempting to figure out how to pay the huge debts off - if that hadnt been done in the past then Oz would have been another basket like the PIGS group of basketcases - Spain 25% unemployment !! [throw in Cyprus for good measure].
    http://www.tradingeconomics.com/australia/government-budget
    set the year to 1979 and click on refresh -its obvious [I have matched ALP governance with each massive dip into a budget deficit]
    Robbie
    9th May 2013
    5:30pm
    Dear aquatrek. Fancy mentioning Spain, Cyprus etc... All these governments have conservative governments. They have done what conservative economists advised. Cut spending: government services; slow everything down till their economies crash. This is what Hockey advises. Cut the public services sector. Make unemployment rise (how do you pay off debt when unemployed?) Just see what Newman has done in Queensland! Not intersted? You will be when Costello's advise to Abbott is to do the same! Then see our AAA rating disappear. Pain will come to this land. So sad and avoidable!
    aquatrek
    9th May 2013
    6:14pm
    you obviously cannot understand graphs - its a linear picture of income versus outgoings - its called a budget - so that is the saddest part. What Newman has had to face is exactly the same scenario - a state driven to bankrupcy by an ALP spendthrift. If everyone ran their household budgets like the ALP we would all be on the streets selling hashish. Just look at the graph look at the graph look at the graph - get it ?
    Anonymous
    9th May 2013
    6:24pm
    It must be very lonely being a socialist these days Robbie there can't be any room in that Queensland phone box
    aquatrek
    9th May 2013
    9:27pm
    ALP CRIME ENDEMIC - WOW Newmans commission of enquiry has unearthed some real dodgy stuff with Ludwig, RQL and others. ALP = corruption personified.
    Tom Tank
    9th May 2013
    9:43pm
    A question on Newman's commission of enquiry? I do believe it was Peter Costello so could one possibly expect a balanced view from him? He probably did what Kennett did when he came to power in Victoria. He took the debt being adequately serviced by State Instrumentalities each one of which was also paying annual dividends into State Coffers and rolled into the actual State Debt. The enquiry Commission was made up of surprise surprise all Liberal party members.
    A huge gnashing of teeth followed quoting this massive State debt but of course the bulk of that debt was being adequately serviced in the way any business would do it.
    Talk about smoke and mirrors not to mention lies and deceit.
    aquatrek
    9th May 2013
    9:52pm
    you are a classic case Tom Tank - when you have run out of reality you start with the 'he probably did' ALP spin doctoring.
    LENYJAC
    9th May 2013
    2:58pm
    AFTER THIS LAST FARCE ONE WONDERS WHOSE NOSE IS GETTING LONGER BY THE DAY?????
    Robbie
    9th May 2013
    5:33pm
    Dear Lenyac. Whose hand is up the glove puppet Tony Abbot? Murdoch! Who will benefit from Murdochs protoge? The elite. Who will suffer from Peter Costello's advise: the Australian tax payers. Then tell me whose nose is getting longer!
    Anonymous
    9th May 2013
    6:20pm
    We should be very proud of Murdoch he has created a world wide business from one newspaper in Adelaide .
    He created the only seriouse newspaper in Australia and has consistently lost money on it .
    Wasn't it Kevin Rudd who got pissed in a new York strip joint with a news corp exec
    After a meeting with mr Murdoch
    Robbie
    9th May 2013
    8:17pm
    Dear Lenyjac. You must watch the next episode of 'Murdoch' this Sunday evening on the ABC at 8.30pm. After vyou have seen it tell me you are still proud of Murdoch. If you are hearing impaired, put on the sub-titles. Surely you can comnprehend what one man do with 74% of the Australian media under his control. He will determin who will be Prime Minster and the condition under which he will rule!
    Anonymous
    9th May 2013
    11:25pm
    Well let's think I get my news from the economist the spectator the Australian
    And for a bit of left wing bias I watch ABC and read SMH a Fairfax rag I do all of this
    On my iPad and get google news
    Mr Murdoch has an interest in only one of these the Australian and has lost money on it fairly consistently since the sixties
    I would be interested to know how you arrive at 74 per cent
    Grey Voter
    9th May 2013
    3:29pm
    Who was that famous person who said: "You can fool all the people some of the time, you can fool some of the people all of the time but you can't fool all the people all of the time" ?

    Figures and budgets apart, I think Julia's brand of Labour assumes most Aussies are gullible fools.

    They say no political party has ever won an election by promising more taxation.

    The election will clearly show who the fool really is
    Sylvia
    9th May 2013
    3:42pm
    IAgree with Sensible Senior, the only budget i have ever had to be responsible for was my household one, and so far my head has stayed above water, through the hard time and the good, Just some good old fashioned commonsense, like in lean times trim back, make do and mend, in the good times, replace and save some, and remember that we are responsible for our spending, no one to wet nurse us and give us more because we wasted?
    I think some of us could do a better job, and to think this Election is still 4 months away!
    What an arrogant lot these politicians are, it is time their salary and benefits were the same as all Australians, do away with life time travel and offices and secretaries, let them manage as we do. And let us not forget who is to blame when we are all paying more.
    LENYJAC
    9th May 2013
    4:59pm
    HERE HERE ON ON YOUR SALARY AND BENEFITS COMMENT TOTALLY AGREE
    wally
    9th May 2013
    5:11pm
    Good to see Robbie is back warning us all of what the Leader of the Opposition is going to do to us all. Too bad Robbie wasn't around in 2007 to warn us what the then Leader of the Opposition (and I don't mean Brendan Nelson) had in store for us prior to that election. Instead of trying to scare us with negative comments about Abbott, why not be positive and tell us about all of the glorious and wonderful things Julia Gillard and Wayne Swan have done for us since 2010. Perhaps the "destruction of the people smuggler's model"and "no carbon tax under a government I lead" will figure prominently in the hymn of praise of the current Labor government.
    Robbie
    9th May 2013
    5:40pm
    Dear Wally (?) Tony Abbott won the party room vote by one vote (probably his own). His approach to governance was to sit with his feet on the table (in his office) and wait for the Independents to bring him goverment. It didn't happen. The rest is history. Not contend with being rebuffed he went on a long and noisy campaign of villification: ridicule and nonsense. Not once been seen on Q&A! Never to debate before a life audiance. Why not? He can't. He hasn't got the intelectual wherewithall to do so. All he can do is mouth slogans, 'Stop the boats', or play the person not the policy. We are still awaiting policies from the Liberals that can be costed. I won'y hold my breath!
    Anonymous
    9th May 2013
    6:15pm
    Tony Abbott earned a double degree in law and economics from Sydny university
    He then went on as a Rhodes scholar to Oxford and earn a masters degree.
    Robbie
    9th May 2013
    5:45pm
    In good economic times, which this country has seen for 22 years, but it's citizens seem not to have not noticed, you spend on government services which benefit the tax payers. The only policy (apart from destroying everything that has been hard won) Abbott porposes is a $75,000 baby bonus for people on $150,000/year to be paid for by big bussines (who will pass it on to their customers, which means all of us). Wonderfull how a policy which so priveledges the rich is not mentioned in the same breath as 'class warfare' by the Murdoch press. Oh, I forgot! The rich have won the war!
    aquatrek
    9th May 2013
    6:19pm
    did you get the short straw Robbie - seen as dispensable by your commie buddies - have they given you an escape one-way ticket to China ?
    Robbie
    9th May 2013
    8:22pm
    Do you think China a communist country? Poor thing. You should read more and questions the world around you. China is the biggest capitalist country in the world which is buttering Australia's bread! A slight dip in their 12% growth rate and Australia panics. Tony Abbott won't save you there! he's struggling to convince people that penalty rates need to go, but won't re-introduce Howard's Work Choices! Who do you trust? Him? Not likely!
    aquatrek
    9th May 2013
    9:12pm
    I suggest that you have the wax in your ears removed - the NLP stated that penalty rates would not be altered - wait for it - today !!
    I like your 'spin' on a country that has the largest in operation communist 'Central People's Republic of China' regime in the world. Thats an ALP trick of the tongue isnt it - spin doctoring. I would lurv to see you suited up parading like a stick dummy on a military Peoples Liberation Army parade ground facing off to a few angry students.
    Anonymous
    9th May 2013
    10:45pm
    China is corrupt and run by corrupt old men for the benefit of their families .
    And where did the capital come from to modernize.

    9th May 2013
    6:44pm
    As much as I disagree with the maternity leave proposal you have to admit that the check out chick currently under the caring labor has three months leave on the minimum wage under saint tone she will have six months with her baby on full pay
    ozykiwi
    9th May 2013
    6:51pm
    This forum really makes the strongest point.....everyone but one person (that has posted a comment so far) has had enough of this government.
    I go back to my previous comment "I know there are many out there that will always vote against the Liberals no matter how much the current government makes a mess of things" and we can see that in this forum.
    Huskie
    9th May 2013
    10:02pm
    Whilst I am disappointed at events lately. The fundamental fact is that a budget has to adjust to current events and conditions. If I lost income then my budget has to reflect that fact.
    How many of us went thru the days of house mortgage rates of 17+% (under a Coalition) and survived. Statistics indicate that nearly 25% of the Aus population is over 55 years of age and they control nearly 45% of the nations wealth and disposable income. Basic economics= look after those with the disposable income and that will provide income for the rest. Giving me a better return on my retirement investments can provide greater benefit than looking after the over committed younger generation mortgage holders.
    I have never had a new dining suite, my cars are 10 years old, I have not had a holiday away for 20 years, if I had a "fire sale" my goods and chattels it would be lucky to realise $2000.00.
    Younger generations and others need to realise that there is a big difference between I WANT and I NEED.

    PS Aquatrek please moderate your language
    aquatrek
    9th May 2013
    10:05pm
    excuse me ?
    Anonymous
    9th May 2013
    10:41pm
    Maybe huskie has a nut fetish.
    Anonymous
    9th May 2013
    10:41pm
    Maybe huskie has a nut fetish.
    wally
    9th May 2013
    11:02pm
    All of this negativity! Goodness gracious! Here I was expecting Robbie to extol the virtues of Labor policies since 2010. All we seem to get is another dose of negative Labor slogans and mish mash from this person. why should we re-elect Julia and Wayne to rule over us and steer our working families in a moving forwardly direction? Does this mean working families get to pay more (taxes and living expenses) and get less? Having Robbie suggest we widen our reading to his favourite sources is like having Joseph Goebbels advise us to seek guidance from Mein Kampf.
    Sure, we all have our points of view and we enjoy beating each other over the head with them which is good creative fun. But don't take everything too seriously and take everything to heart. We might even wind up with Prime Minister Clive Palmer after Sept. 15!!!!
    Anonymous
    9th May 2013
    11:14pm
    Made me laugh already????
    aquatrek
    9th May 2013
    11:25pm
    The polls indicate an ALP slaughter and if that will be the case then the NLP will tend to run amok also. We sadly lack another party or two or three to 'keep the bastards honest'. Independents holding sway just keeps it all on a knife edge. The Greens without Bob seem to be a grass lawn that has been trimmed too close to the ground
    [I tried but couldnt work brown into that line at all hehe]. Maybe in the future the Seniors Party will get up and running but it will take a charismatic leader to have any real effect as it will be pushing just one of the population cohorts agendas.
    Anonymous
    9th May 2013
    11:36pm
    Brown was an arsehole ( will that do aqutreck )
    We do need a true conservative party, who will promote competive States , Freeschools, Education coupons, promote individualism, allow privacy , laisez faire
    Libertarian,
    Happy
    9th May 2013
    11:39pm
    This country needs another Democrats party, though on much larger scale.
    Anonymous
    9th May 2013
    11:45pm
    The democrats started out as a breakaway from the Libs and had some legit
    But they went left and were seduced literally by the Labor Party then it was
    Good night Dick
    Robbie
    10th May 2013
    11:10am
    Dear Pete. You would like an economy run on 'laisez faire?' The market can't run itself. You have heard of the GFC? Did the 'commies' sabotage the world economy? No, 'Laisez faire' did. Greed, fear and more greed run the market. Please keep them away from the savings of hardworking people. Multimillion bonuses: extra-ordinary wages: banks making records billion in profits again and again, not to mention the unemployment created by by the GFC. I thought 'laisex faire was an outdated philosophy corrected by reality experienced the world over. You haven't caught up yet apparently.
    Anonymous
    10th May 2013
    6:09pm
    Well let's start by looking at your beloved command economy where voices on high proclaim the allocation of resources over a five year plan.result starvation in china
    In Russia in Korea . Also mass slaughter of there own citizens . The need to steal technology as they cannot invent. Extreme xenophobia and racism. No capital to invest dictatorships controlled press
    As opposed to a free enterprise system millions of minds applied to creating wealth
    Result apple google wealth food exports to feed the world huge immigration from all parts of the world and democracy free press
    As oppo
    Happy
    9th May 2013
    11:37pm
    Unfortunately in this elections case "Better The One You Know Than The One You Dont" and most of us remember the days of The Howard Years (12 To Be Precise) and how pensioners were forgotten and thrown out to the scrap heap as far as having a decent income to live on.

    The now fearless leader of the opposition completely destroyed the industrial relations system with his "Work Choices" and wants to introduce it again under another name. The only Excellent thing he did was to introduce the Medicare Chronic Disease Dental Scheme.

    They could easily find the $17 Billion shortfall to make the Budget Balance e.g Scrap Baby Bonus, Scrap Paid Maternity Leave, Stop the Boats and fix the Mining Tax by demanding the mining companies pay what the government wants and not what the mining companies are willing to pay ( Did you Hear about Julia and cohort giving an extra $1 Billion to Gina Rinehart yesterday all in the name of their Failing Mining Tax?) seems the mining companies were smarter than the government, they are having a field day with the presents Julia has given to them.
    Anonymous
    9th May 2013
    11:42pm
    Allo unhappy did you know that Julia is really a Chinese plant.
    BD
    10th May 2013
    8:30am
    Dear ALP voters,

    Whatever you wish to say about the Liberals, ever since I have been in Australia, Labour have always moved us further and further away from the (distant) days of the "lucky country". I accept that Australia is still a great place for refugees to come to, if you are trying to live somewhere else on perhaps a dollar a day. Now with all the broken promises from the ALP and crazy spending on what?......they have finally realised they have stuffed the economy for everyone, except themselves and their massive (particularly Juliar), pensions. Why do we all have to wait until the Sept for an election, when the deficit is likely to be even larger?

    I think Julia should be deported from Australia for all her lies and financial mismanagement.........anyone else who ran this "sort of show" would at least end up in court. Deport her, I say, (along with most of the rest of the Govt. loons), that would go some way to compensate the rest of us for now having to continue to pay these complete bunch of losers exorbitant pensions!!
    aquatrek
    10th May 2013
    8:41am
    I reckon that put the last nail into the lid on the coffin BD
    Anonymous
    11th May 2013
    9:06am
    I believe the Victorian Police have an ongoing investigation in Ms Gillards role in the
    Alleged fraudulent activities of one of her Ex boyfriends. I hope it doesn't take as long as the investigation into the fraudulent activities in the Health Union.
    I see The Libs timid industrial relations policy includes holding Union leaders to the same standard as company directors about time . This clique represent only 13 per cent of the work force and yet control billions in super funds scared I am .
    sensible senior
    10th May 2013
    10:46am
    i have just read that Clive Palmer has visited Tony Windsor in his electorate because he is worried that there will be a challenge over the legitemacy of his party because of membership. Tony Windsor said he could help as a sitting member of parliament. the plot thickens.
    sensible senior
    10th May 2013
    10:49am
    Also Juliar Gillards visit to png. How does she explain the alleged crime boss wanted in p.n.g. over the theft of 30 million who has used a 457 visa issued by the australian government to avoid prosecution??????????
    wally
    10th May 2013
    12:21pm
    It has been said that a week is a long time in politics. The wait until Sept 14 is over 4 months away That is a long time ( x 20) and a lot can happen.
    Perhaps Julia will make a desperate attempt to restore her popularity and feature prominently in the women's magazines. How? She could marry Tim. That would take everybody's attention away from all of the Labor policy failures we have seen. If weddings work to raise the popularity of the Royals, why not Julia??? After all, the Labor spin doctors are world class experts at diverting the attention of the punters/voters away from the issues that matter. So the grotesque farce that began in November 2007 with Kevin 07 can plummet to a new depth of hypocrisy, tackiness and insincerity.
    Paulo
    10th May 2013
    2:06pm
    May I raise a couple of questions that perhaps the Brains Trust can help me with.
    1. When the Mining Tax was first implemented lots of people agreed it was fair to extract extra tax on the very high profits being made at that time, so how come the Big Four Banks are not required to pay extra tax on their extraordinary Profits, which combined would pay the current budget deficit?
    2. Why, when the US and UK Stock Markets have returned to or exceeded their value before the GFC, is the Australian Stock market still down about 1600 points or 23%?
    3. Will the political climate in Australia become more pleasant and cooperative when the Liberals gain government or will the negativity and unpleasantness continue to the detriment of good governance and the happiness of the populace?
    Anonymous
    10th May 2013
    6:42pm
    Shareholders who have risked their capital and relie on the dividends to live get a 2 to 3 per cent return
    The government who risked no capital get company tax royalties GST income tax from all the mployees created etc etc so a return to the govt in excess of 40 per cent shareholders 2 to 3 per cent the company still needs to reinvest and yet u want more
    Now the companies are choosing to invest in Africa instead of high cost Australia
    Guess you have won
    Anonymous
    10th May 2013
    6:47pm
    The Australian share market is at a record high
    Anonymous
    10th May 2013
    6:48pm
    Yes hopefully politics will return to the back page once the crooks in the labor party are jailed
    Jim C
    11th May 2013
    9:14pm
    Sorry to disillusion you, Sunshine, but crooks in politics have existed long before you and I were on this planet, and of every political persuasion, and it will always be thus. Every time someone tries to "keep the bastards honest" as seems to be a favourite Australian expression, they then join those with their noses in the trough. What is the answer - no idea! This country is no different to many others in this respect - the higher up the tree you climb, the more apples there are to put it your own pocket.
    Anonymous
    11th May 2013
    11:19pm
    You say u have no idea well there are some politicians who are " conviction" politicians who go into politics for good reasons for civic duty where they could make more money and have an easier life in other areas. I would put Tony Abbott and John. Howard in this actor gory. Maybe in the old days there were people on the left who believed in the light on the hill sadly no more ;
    Anonymous
    11th May 2013
    11:20pm
    Maaaate
    BD
    10th May 2013
    2:24pm
    Hi Paulo,

    Q1. Totally agree, the big banks should pay a much "fairer" slice of profits tax, but like Govt. nobody seems to want to take them on and so the unfairness goes on and on.......

    Q2 Can't help with this one really, no idea, but (can jokingly offer).....I doubt if this current Govt. knows why this is either!!

    Q3. Well I am hoping so.........really even if you don't like what may happens in the future, Tony Abbot certainly sounds more like a sensible and realistic PM (to be), than the current Juliar........she's the only politician that makes me squirm and want to turn (her) off, every time she speaks , how on earth she got to where she is I'll never know.......good luck her "other half" Tim, I just couldn't put up with her 24 hrs a day!!!

    BD
    sensible senior
    10th May 2013
    6:15pm
    WHAT HAPPENED TO GEOMAC, STUDENT AND MUSSITATE AND EGYPTIAN THEY ARE ALL ON THE OTHER SITE RUNNING DOWN TONY ABBOTT

    10th May 2013
    6:52pm
    Ss under general discussion I have created a discussion called optimism for the future your input would be appreciated and Aquatek if he gets this
    sensible senior
    11th May 2013
    9:36am
    wouldn"t it be great if we could have for everyone to see a proper Profit and Loss statedment i used to do a P & L every week followed by a Balance Sheet once a month surely the Treasuer could see how the land lies. I dont believe the increased number of jobs, when the mining situation is waning and all other jobs have been slashed something funny there. How many more people from PNG are going to be let into this country on a 245 visa, maybe she might send her advisor home that would be 1 less. Just off topic have you looked at the liberals take on u tube re headless chook, so far it has had 40,000 hits and counting i think it is very funny.
    Crazy Horse
    11th May 2013
    10:22am
    The tone of some of these posts is disgusting. Whilst you have a right to express your opinion, the hate and invective being hurled by some of you wouldn't be accepeted in primary school. We older Aussies have a duty to maintain some standards of decency, particularly in view of the disgraceful politics of personal villification and negativism be engaged in by some politicans.
    sensible senior
    11th May 2013
    10:28am
    yes i would like to know WHERE
    sensible senior
    11th May 2013
    10:31am
    het crazy horse, geomac studen mussiate and the others are not here so are you blamin g robbie

    11th May 2013
    10:26am
    Could you give an example. Crazy horse
    sensible senior
    11th May 2013
    10:37am
    it really is a worry because deflation is the worst thing we can have, along with parity of the aust. dollar. i feel sorry for the pensioner living wholly on their super benefits and savings
    Anonymous
    11th May 2013
    11:49am
    Yes I think the Reseve Bank should be printing money right now to encourage a bit of Inflation and getting SME borrowing . Forecasts are including Soros that we can look forward to a lower dollar.
    sensible senior
    11th May 2013
    11:56am
    Pete i feel that if anybody has some money to invest they should invest in gold

    11th May 2013
    12:22pm
    Well I was of that view during the GFC and followed up on it but with the recovery of the
    US and so much money sloshing around the world I think we will see a boom in real assets.
    sensible senior
    11th May 2013
    12:29pm
    I agree Pete but i dont believe australian assets and also not the Banks or Woolworths etc

    11th May 2013
    12:39pm
    Tend to agree and I have always rented as it was far cheaper than owning . if someone was willing to make 3 per cent on their money good on them .
    But at my age 71 not sure if I would be willing to take currency risks of investing off shore if I was younger take advantage of the strong Aussie dollar and invest in US real estate and rent out .
    Jim C
    11th May 2013
    7:39pm
    Now................. can I remember when Costello flogged off this country's gold reserves when they were about a quarter of today's prices............... or am I just dreaming?

    Just saying.....
    sensible senior
    12th May 2013
    7:25am
    Hello we have another labor supporter i think that Costello was the greatest treasurer we have had.
    student
    12th May 2013
    9:48am
    to each his own sensible senior.
    sensible senior
    12th May 2013
    10:19am
    Student is that all you can say, you suprise me
    Paulo
    11th May 2013
    10:55pm
    I have posted two or three comments that have not been published what is the problem

    12th May 2013
    10:23am
    Want is the point in a country holding gold how much better to turn it into cash and create a future fund which is invested and produces a return so that future generations will not have to pay tax to fund civil servants superannuation.
    sensible senior
    12th May 2013
    10:39am
    good one Pete, that is exactly right
    archer
    13th May 2013
    8:20am
    some here need to check spelling I believe our prime minister's name is Julia and not Juiliar or Juliar Hope I am not being rude here but it's seems a common error amongst people of a particular opinion
    BD
    13th May 2013
    8:49am
    Hi Archer,

    No I think we (all) got it right the first time......seems a lot more people seem to spell it this way than "correctly", I wonder why?
    archer
    13th May 2013
    1:49pm
    Name calling seems pretty small and mean spirited to me Has no place in an adult debate
    Just my thoughts
    AlbertC
    13th May 2013
    2:52pm
    who ever gets in power would be wise to stop spending millions on boat people .sending millions over seas. bring all our troops home. all that money spent could be put into hospitals so that you don't have to sit waiting on average up to 10 hours before you get called in.lets face it more doctors and nurses means a quicker turnover. not to mention which i am waiting a further 2 to 3 hours for a someone to arrive to take xrays then a further 2 hours to find out if you are alive. if you are its a bloody wonder.!

    14th May 2013
    10:17pm
    Pete, where did you hear that the Australian stock market is at an all time high. America is a basket case & they are setting new highs every day. The ASX all ords was well over 7,000 at the peak & closed to-day at 5,202 or 2,000 down on our peak
    Anonymous
    15th May 2013
    7:01am
    My mistake Innes in a rash of optimism
    Anonymous
    15th May 2013
    7:01am
    My mistake Innes in a rash of optimism
    sensible senior
    15th May 2013
    7:23am
    Innes i believe we are in for a rocky ride and australian stocks especially the banks are too. if i was investing to-day i would put my money into gold although stocks are going down now i believe they will rise again in the near future. I feel sorry for people who have their super invested in shares. Wayne Swan does not care for our country his so called budget was very sneaky indeed , why do a budget for the year if you are going to make provisions in it for 10 years he cannot predict what will happen in one year let alon 10 years. it will be interesting to see how Hockey manages this one.
    alfie
    15th May 2013
    3:17pm
    Some say that Abbott talked the government down. In reality Labor did a good job of that themselves. All that Abbott was doing was simply stating the facts because what labor was doing was wasteful. Say no more with an $18B deficit is enough proof... as an opposition leader he did right....to keep opposing wasteful spending. Labor did optimistic projections to spend the money that they didn't have...its called financial engineering.... that crashed.

    Some say that Howard was worse or whatever or spent a lot of money or whatever but the bottom line was black with a huge surplus....which was wasted by Labor. Labor loves to compare us with other countries and say that we are doing better as a means to justify their incompentency, another smoke sceen... who cares about that?... the government should care about Australia and must do the best for all Australians, not be in a comparing match. If a country is hungry and we are doing better does that mean that we are less hungry? The bottom line is we're hungry... so what's the difference. Wake up Australia.
    aquatrek
    15th May 2013
    4:19pm
    4 months to go and out the ALP will go - so far out they wont be back for quite awhile. Its a fact that since Federation the ideology has been 66% liberal and 34% socialist. Oz will be in for a good long run of good fiscal management no matter what the global circumstances [the ALP 'excuse']. They have proven themselves time and time again to manage Oz for the betterment of the populace as a whole and to see that Oz also prospers as a country. Cant wait.
    sensible senior
    18th May 2013
    8:33am
    Alfie one point i would like to make with regards the coalition on the super. I believe that Mr. Aboot has kept the super capped for the time being by the companies because he is going to try and get small businesses back on an even keel they need all the help they can get and increased super charge would lead to more espenses which they cannot afford.
    BD
    15th May 2013
    6:21pm
    Well said Aquatrek.

    The only chance this country has got to avoid a Greece, Spain etc. scenario is for the Liberals to get a "steady hand" on the economy ASAP, it's a shame we seem to have to put up with this bullshit still, until Sept, God knows what the deficit will be by then!!

    Those on the other side who feel Julia(r) could do it, have found she (and Swano!) are woefully out of their depth in managing anything........come to think of it her whole cabinet are.....Midnight Oily, etc...

    I predict America will fall back into a further recession and that may have a "roll-on" effect here, so let's get the finances in Australia in good order as soon as we can, before we are all left with no Super, no House and no job.....(to so many the latter has happened already! .......Um... 457 Visa staff are cheaper!!!).
    Abby
    15th May 2013
    8:13pm
    Apparently the government has a plan to spend $21 million on a two year advertising campaign to sell the Gonski reforms - what a waste that is.
    archer
    15th May 2013
    9:59pm
    Australia the Best country in the world !!!! weathered the GFC Fires in Victoria floods and cyclones in Queensland, Victoria and WA. And all that cost a few bob ( could have been like the Bush mob in America in how they treated the New Orleans people).

    What else did they do. Oh yes. Increased the pension by over $200 ft. (Just mentioning something relevant here ). But what the hell lets get rid of them.

    We have so very much to look forward to !!
    As Joe said the age of entitlement is over so get used to it.
    Quit handing out welfare payments including pensions and lower taxes we need capitalism pure and simple We need to look after our national treasures like Gina and Clive. We shouldn't be mean and expect them to pay the high rate of taxes like PAYE workers
    Also there is No need to be spending so much money on education we can import well educated people and it will cost us nothing. and as for that NBN who needs the Internet dial up is just fine.
    Things were real nice in the 50’s women stayed home and made jam , cakes and polished the silver and we all lived in sweet little houses
    Oh the good old days


    As JFK said "ask not what your country can do for you ask what you can do for your country."
    That wouldn't wash here now would it !!!!
    Just saying
    sensible senior
    18th May 2013
    8:48am
    ARCHER PLEASE EXPLAIN THE INCREASE OF OVER $200 PER WEEK TO PENSIONERS
    sensible senior
    16th May 2013
    9:24am
    I would like to point out that if Julia Gillard and her government were so keen about the disability scheme and the gonski reform why did they not bring it in years ago the only reason why they are doing this now is to try and back Tony Abbott into a hole. pardon me if i am a skeptic or nasty but i dont believe the so called crying Julia she should take up acting. one point if she was crying wouldnt she have to wipe her glasses.She did not cry when comments were made about her father i find it hard to believe her now i know ill cop a lot floack on this but this is how i feel.
    BD
    16th May 2013
    9:42am
    Hi Sensible Senior,

    Yes I felt too Julia(r)'s performance was ALL acting. I had heard the news radio report earlier on her "antics" but thought it "perhaps" genuine until I saw the parliament footage on the ABC. What a joke, she was indeed "acting" and very badly, much as she does anything else.........I simply cannot believe what levels she stoops to, to stay in power.......which is all she is interested in, she is not interested whatsoever in ordinary Australian people..........I hope her legacy will remain as the "worst PM in Australia's entire history......I cannot wait until she's gone!!!

    Actually I have not been very politically minded until she came to power (so underhandedly) but I find it simply outrageous how her and her "government" have trashed this country!!
    BettyBoo
    16th May 2013
    1:07pm
    I'm not surprised Labor supporters have stayed away from this forum in droves - what a hateful, spiteful lot of diatribe. I can't wait to hear what you all have to say in a couple of years if the Libs do get in as I don't think you'll be the happy little Vegemites your seem to think you'll be.
    sensible senior
    16th May 2013
    2:53pm
    labor supporters have stayed away from this site because they cant defend what a rotten job this governments has done i dont think its spiteful i am just used to the sneaky games your labor government have achieved over the last years.
    archer
    16th May 2013
    9:05pm
    Australian is one of the best economies in the world. the government must be doing something right. And they still were able to give the pensioners an increase of over 200 a fortnight ( just mentioning something relevant here - of course they have done much more than this ). Surely! Really I must be missing something here.
    I have to say I am alright Jack But i will be interested in the tone here after a few years of austerity.
    sensible senior
    18th May 2013
    8:14am
    rcher can you please explain the increase of $200 a fortnight
    archer
    18th May 2013
    9:30am
    http://guidesacts.fahcsia.gov.au/guides_acts/ssg/ssguide-5/ssguide-5.2/ssguide-5.2.2/ssguide-5.2.2.10.html

    2007 rate per couple pa $22006. = $846.38 ft
    2013 rate per couple pa $28760. = $1106.15 ft Up $260.15

    2007 rate for single pa $13176. =. $506.80ft
    2013.rate for single pa $19076. = $733.70 ft Up $226.90

    Of course the supplement went up too However we don't really need to concern ourselves about the supplement I believe tony a mentioned in his budget papers that he would be getting rid of supplementary payments to welfare recipients

    17th May 2013
    12:58am
    Australia's economy is about the same size as Texas and somewhat smaller than California's
    Just to put things into perspective.
    We rely on foreign investment to fuel our development. We do not want the government competing for these funds. As they have been doing under labor.
    Austerity is just another way of saying live within your means . ( Janet Albrechstein had a good article in the Aus )
    BD
    17th May 2013
    10:22am
    I "love" the earlier comments by the ALP supporters, especially Betty Boo......I certainly don't think we will be worse off under the Liberals, but we would be, if we let "your lot" keep pushing us down the road of spend spend spend!!......

    Why don't you try living in Greece or Spain etc. for a while, then you'll see what the real result of letting the ALP continue with this madness....but then like all of the ALP bunch, you'll "have an answer" as to why that scenario couldn't happen in Australia..............until it does.......wise up you idiots!!!!
    archer
    17th May 2013
    8:01pm
    Greece and Spain had conservative governments for years preceding the time when the s--- hit the fan. Mmm same as the USA.
    sensible senior
    18th May 2013
    8:59am
    Archer i believe there is another crash coming and the debt we have at the moment does not look good for us. Yes I believe U.S.A are in trouble also , I have read that there going to be more attacks on U.S.A by the Islam goups whereby Iran is involved and also Russia is supplying weapons to the Syrian Government so the way things are going we could have an all out war .
    archer
    18th May 2013
    9:47am
    Oh you are so right sensible We are definitely going to have a war
    War is great for the economy. But terrible for the recipients of blame . I read somewhere that in modern war 90% of the casualties are civilians I am nor sure how correct that is but it sounds terrible if its right
    Anonymous
    18th May 2013
    12:44pm
    What a lot of glooomongers The US is in recovery it wil soon be an exporter of oil and gas instead of an importer . Cheap energy is fueling a return of manufacturing
    This is leading to a strengthening of the dollar and a weakening of the Aussie .
    The US is moving away from involvement in wars that do not effect their own national security. They have withdrawn from Iraq and are withdrawing from afghanistan. In Libya they took a back seat and left it to the Brits and France.
    They have not got involved with Syria and will probably leave it to turkey and Israel.
    Japan for the first time in twenty years is expanding by printing money and a cheaper yen.
    Turkey and brazil future powers are expanding at China like levels
    BD
    20th May 2013
    10:31am
    Everyone, let's a look at one good thing that Gillard has done for common sense, she's proved that the electorate won't stand for liars and cheats and will put her and the ALP where they should be.....out of Govt. for decades!!

    I am sure that even the staunchest ALP voter squirms at some of the goings on Juliar has orchestrated and the honest ones are those now saying that they will never ever again vote for the ALP, even if they had done for years in the past.

    Hopefully the message sent to the ALP in Sept, will be so strong that no party (even the Libs) will take the electorate for granted ever again. Thanks Juliar, I just wish you'd honestly "get out of the country" when you lose office, but sadly that does not put and end to your outrageous pension.......why the country has to continue to pay a substantial "living" to such an incompetent, I fail to understand!! Pensions of this ridiculous amount should be based on previous record.....she's laughing all the way to the bank and we have all been too silly in the past to do anything about it........maybe some real accountability will start to result in Canberra.......but whatever happens, ANYTHING is better than the current rorting that has gone on over these past few years.....bring on Sept and hopefully earlier if some other scandal befalls her Govt.!!!.......come on Independents, put a stop to this lot right NOW!!!

    20th May 2013
    11:39am
    The Victorian police are still investigating her role in the AWU fraud by her ex boyfriend .
    BD
    20th May 2013
    11:49am
    Hi Pete,

    Yes, I think you or someone else mentioned that prior, but just like the Craig Thompson "episode", I'll bet they don't really proceed with anything....hey come one, have you ever heard of a dishonest politician....that's would be blasphemy I expect!!!
    Politicians simply make "mistakes" that other folk would go to gaol for........look also at Swan.....budget deficit/miscalculation by $18-20 billion....simple "mistake!!!


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