Wayne Swan is a fantastic Treasurer. His output—papers, pressers, visits to electorates etc etc is way in front of what Costello managed. He has cut huge chunks of middleclass welfare out the Budget, made many meaningful reforms.
Last month new car sales were up 25% year on year!
Compare our economy to the rest of the world, just no comparison! Building on Keatings fantastic reforms.
On 1/7 when the Carbon Price mechanism kicks in the tax free threshold will triple, millions will no longer need to file tax returns, saving tons of churn.
Poor old Tip is getting jealous, enough that he is looking to get back into Parliament—and probably expects the Liberal Leadership to be handed to him on a platter
A good treasurer doesn't piss a $20bn+ surplus up against the wall, the predict a $21bn deficit that blows out to $40bn
Swan is the worst treasurer the country has ever seen
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The economy isn't surging regardless of what we're being told. Those figures are selective. They don't want people to panic. Small businesses are closing down everywhere. You only have to look around to see all the empty shops in main streets and various shopping malls and know that it's only going to get worse.
What is happening is that people are saving their money: 85% of people are well ahead of their mandatory payments on their mortgages, credit cards are being paid off.
This is very healthy and much better than having a credit fuelled spending boom like under Howard and Costello but as with all adjustments there is some pain.
IQ with the idiotic claim re surplus! When the economy hits a shock like the GFC company profits head downhill so naturally tax revenue too goes downhill. Because of the brilliant stimulus a lot less companies went broke and people sacked here than anywhere else. If you want to talk about pissing money up a wall, that is what Howard & Costello did between them 2001–7, pissed $400Bn against the wall in the form of reckless, irresponsible spending and unsustainable tax cuts. They could have built new hospitals, universities, the NBN, road/rail/port infrastructure instead. What a waste of a once in a hundred years boom!
With the billions in middleclass welfare and other irresponsible Howard spending pruned out the Budget we should have a surplus this year. Surplus made stronger by the huge demand for Australian government bonds cutting the interest paid.
The Baillieu govt has driven Vic into recession.
The MRRT and other measures will spread the benefits of the mining boom beyond WA & Qld.
mantra wrote:The economy isn't surging regardless of what we're being told. Those figures are selective. They don't want people to panic. Small businesses are closing down everywhere. You only have to look around to see all the empty shops in main streets and various shopping malls and know that it's only going to get worse.
Here you go Mantra, the figures contain good news for small business:
JP Morgan Australia chief economist Stephen Walters said the Australian economy is continuing to bounce back from the floods and cyclones in early 2011, that has been a drag on growth, up until now.
"Just looking at the (March 2012) itself, consumption was the big surprise, also business investment was very firm,'' he said.
"The surprise was the domestic areas of the economy, consumers and the business community.''
Mr Walters said there is now less of a chance of any more interest rate cuts in the near term, but still expects the the Reserve Bank of Australia (RBA) to lower cash rate a couple more times by the end of the year.
Private sector incl household consumption up, that should help the small business sector incl those shops—tho a lot will still move away from bricks and mortar to on–line. There is also somewhat of a move away from big shopping centres to smaller strip shops which have much lower rents.
The carbon price and the tripling of the tax free threshold will see more spending (those on low incomes have little discretionary income as a rule) and the carbon price not causing the sky to fall down will also open wallets a bit more.
I think Monk has been attending too many of those online "wealth-Creation" business seminars, of which have made him an expert in all things economics.
The carbon price and the tripling of the tax free threshold will see more spending (those on low incomes have little discretionary income as a rule) and the carbon price not causing the sky to fall down will also open wallets a bit more.
The carbon price and the tripling of the tax free threshold will see more spending (those on low incomes have little discretionary income as a rule) and the carbon price not causing the sky to fall down will also open wallets a bit more.
I thought the carbon tax was a good idea until I understood the flow on consequences and the fact that in 3 years we will go into the international market to trade carbon credits. It's gambling at its worst.
The multinationals - and that includes Woolworths, which is being supported by this government, will pass all their extra costs onto the consumer. Most items will be subject to a carbon tax and it will be recuperated by the government all the way down the chain to us. It's the same as the GST only 2.3 times worse.
The ramifications will be far reaching.
As far as a surging economy - Howard did the same thing, used the seasonal figures to boast about our booming economy - but no treasurer has the guts to throw in the trade deficit to give us a real idea of what's going on.
Would you trust this man with a head like a down syndrome baby with your money?
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