Mid year economic review

[DSM5]

With Hockey cutting money out of budgets, what chance Brookvale getting its 10 mill.

 

[HappilyManly]

What's another 10 million on top of Labor's deficit of 120 billion 😛

Hopefully Cliffy puts in a Land Rights claim for his aborigine ancestors soon, then Brookie would be declared a Sacred Site :idea:

 

[Mals]

What's another 10 million on top of Labor's deficit of 120 billion 😛

Hopefully Cliffy puts in a Land Rights claim for his aborigine ancestors soon, then Brookie would be declared a Sacred Site :idea:

Brookie Oval should already have been declared a sacred site due to the magic Cliffy conjured there for over a decade! 🙂

 

[The Wheel]

My guess it will be a non core promise

 

[globaleagle]

I don't think it's going to be coming along.

Though it'll only be announced after all the positive press abbott gets from being made the #1 ticket holder.

 

[Technical Coach]

What's another 10 million on top of Labor's deficit of 120 billion 😛

Hopefully Cliffy puts in a Land Rights claim for his aborigine ancestors soon, then Brookie would be declared a Sacred Site :idea:

" Labor's deficit of 120 billion 😛" ----please explain with relevant facts and figures to back this statement up beyond Liberal propaganda.

Creative Liberal accounting is loading up this financial years deficit so that it can be passed off as "due to Labor" which makes the improvements in the deficits the following years easier to attain.

The problem is mainly due to revenue right downs predicted to be around $101 billion and worsening as a percentage of GDP.

In the Howard years while the world economy was booming total receipts as a percentage of GDP were averaging around the 25% mark from 08/09(GFC) total receipts have barely broke the 24% mark.(Structural deficit)

The main reason why average spending was up with Labor (3.5%) is due to the one off Stimulus package during the height of the GFC, take that exceptional circumstance out of the equation and Govt spending has been basically normal and trending down.

 

[Ralphie]

What utter garbage. The spending on the NDIS and Gonski School funding on their own exceed the average, and don't try and tell me that was stimulus spending.

Don't get me wrong, both are admirable initiatives, but they are not initiatives that can be funded without tax increases.

 

[DSM5]

Ralphie, please, the Gonski funding hasn't (won't) be delivered. Back to the inequitable school, read private, funding of the Howard era. And the NDIS funding hasn't gone through either, and will probably be cancelled. TC is correct. Howard and Costello threw away the results of the mining boom on tax breaks and welfare for the middle class. Leaving a structural problem which both sides of politics won't go near, I.e raising taxes. And don't get me started on Abbott's paid maternity leave plan. Read Ross Gittins piece in today's SMH.

 

[Technical Coach]

The $120 Billion of "Labor Debt" i think that post is referring to is the four year projected accumulated deficit from this year onwards.

Labor did try to raise taxes in some form with the original Mining Tax and Carbon Pricing even if in the initial stages of each most of that revenue would be returned in subsidies and tax breaks in other areas.

I guess it's looking like the GST will go up to 12% and more reworking of tax brackets is necessary if total taxation revenue does not improve.

Or we have less Govt spending in a time when we need more to boost the economy which will speed up unemployment and hence increase welfare payments and retraining/education expenses.

Not much room for the reserve to stimulate with lower interest rates but the Libs i'm sure are pushing the reserve with all this "deficit talk".
Stevens came out recently to warn the Govt to stop relying on further drops in interest rates to boost the economy as it will not do much with diminishing returns from this point onwards.

So lowering interest rates will fuel an ever increasing housing bubble we don't need and i can also see the Australia dollar to be pushed downwards internally and internationally to stay competitive.

 

[SeaEagleRock8]

Never trust a politician with neck tattoos.

 

[mozgrame]

I find it VERY hard to believe any political party would ;

1. Break an election promise once in power.
2. Blame the previous Government for having to break that promise.

lol

 

[Daddycool08]

Do not raise the GST.

Remember Little Honest John said the following:

- I'll never lead the Liberal party again it would be like Lazarus with a triple by-pass.

- there'll be no GST it is dead as a political issue.

- The GST will never go up.

Remember the GST is funding for the Nevills in the states not to improve the Federal bottom line.

 

[Stevo]

Reportedly the clubs plan is to make Tony Abbot the number 1 ticket holder. Hopefully that all falls into place. That may sure up some funds.

 

[Mals]

Reportedly the clubs plan to make Tony Abbot the number 1 ticket holder falls into place. That may sure up some funds.

Congrats Stevo, you've just made one of the few sensible posts on this thread 😉

 

[Stevo]

Shh Mals. Technical coach (Bill Shorten) will be all over you. Keep your head down.

 

[tookey]

Reportedly the clubs plan is to make Tony Abbot the number 1 ticket holder. Hopefully that all falls into place. That may sure up some funds.

I would have thought that Abbott was more a number 2.

The libs would spend more than $15m on airfares and lunches a year.

We have better get the $15m quick though before he totally roots our economy

 

[globaleagle]

Reportedly the clubs plan to make Tony Abbot the number 1 ticket holder falls into place. That may sure up some funds.

Congrats Stevo, you've just made one of the few sensible posts on this thread 😉

Is he shore that'll work though?

 

[mozgrame]

lol ^

He's shawl work.

 

[CAMBO]

Manly win - souths lose hahahah

Joe Hockey despite being a great pollie hates manly (was an old bears man). But we all know who his boss supports
http://m.dailytelegraph.com.au/sport/nrl/south-sydney-lose-dream-high-performance-centre-after-federal-government-pulls-pin/story-fni3fbgz-1226786912110

 

[DSM5]

Souths have a hide. The Sydney City Council spent 20 million on the revamped Redfern oval 'training' facility a couple of years ago. Let Russell and his French mate spend their loot. Souths suck.