The Budget

[nut]

You would have thought they would have been discussed as part of 'structural'budget problems

It’s going to cost about 60billion a year… so that’s why we lose the surplus … it’s a disgrace

 

[nut]

[CITATION NEEDED]

He's a pound-shop shadow treasurer. Absolutely pales in aptitude compared to Chalmers




At ~$25B per year, there would still be a slight deficit, but it would have debt as a % of GDP retreating sooner.

Structurally we're in a dicey position with the long-term costs of an older population bearing upon us and a government terrified of even maintaining current revenue.

View attachment 1683161

Hence why we need immigration ?

 

[afl2004]

 

[afl2004]

 

[Cap]

Losers- middle-class who actually work

Stage 3 tax cuts ! We do have to wait 12 months

 

[Hank Scorpion]

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Gotta love that short-lived spike when the L/NP were terrified that middle-income folk might experience what the dole was like.

Unconscionable that the RBA talks about higher unemployment as a pre-requisite for inflation control and our government couldn't care less about the cohort that have to suffer through it.

 

[nut]

Heres what getting a proper return from natural resources looks like ….

The fund | Norges Bank Investment Management

The purpose of the fund is to safeguard and build financial wealth for current and future generations based on revenue from Norway's oil and gas resources.

www.nbim.no

 

[Crankyhawk]

The ‘savings’ are no longer giving people a new or increased plan but just rolling it over year after year. No work and the total paid out never goes up despite cost ballooning, good ‘savings’

well the previous administration burnt a shit tonne of NDIS money by forcing repeat assessments of permanent disabilities. So you need to fork out a lot of funding for reports - OT reports, speech path reports etc - and so less of the funding was left for aids/ equipment and care delivery.

Now if they could only get some of the dodgy "care coordinators" who seem to have a fair bit more than the dollar value stick to their fingers

 

[Jascave]

Wonder what would've been going through Josh Frydenberg's mind while watching his successor Jim Chalmers do what hasn't been done since the 1988-89 federal budget handed down by the then Treasurer Paul Keating-deliver a surplus done by a Labor government.

 

[spinynorman]

An extra $2.85 a day for Jobseeker. $1,232,876.71 a day for nuclear submarines.

$1500 per annum tax increase for low and middle income earners. $9000 tax cut for the wealthy.

7.1% increase on HECS debt will take in more money than the PRRT.

Great to have turfed the Coalition for this.

 

[Cap]

It’s going to cost about 60billion a year… so that’s why we lose the surplus … it’s a disgrace

Sorry, was sort of talking around the point.

That's exactly why when they talk about structural issues, they should have addressed how they are going to cover the stage 3 tax cuts.

Rather than just taking to state leaders, of whatever that throw away line was.

 

[NSWCROW]

The salt from scumservatives in the daily tele comments thread though

Now you reap it, you mutts

 

[NSWCROW]

Well delivered thus far, Jimbo.

Who's that next to Anne Aly?

Probably Anika Wells ?

 

[ep2018]

A very smart budget challenging the common LNP narrative that Labor are poor economic managers. Sucks for those in need of genuine financial assistance tho.

 

[NonPhixion]

ill never understand why the government continues down the path of increasing tobacco tax as a means of getting people to quit. The fact they are trying to stamp out non-prescription vapes just shows they are only concerned about the loss in revenue. Ultimately its just going to cause more stress for a lot of people and for a budget thats about cost of living relief it doesn't make sense. I don't even smoke but its a major flaw IMO.
The attention to improving medicare is good but thats about it

 

[Kwality]

It’s going to cost about 60billion a year… so that’s why we lose the surplus … it’s a disgrace

Welcome to the reality of inflation & borrowing money, spending money you dont have/cant repay.

Next year IF/when commodities arent kind to us ..... commodity prices fluctuate, always have/will.

Keep your eye on the US for where we are going.

 

[nut]

ill never understand why the government continues down the path of increasing tobacco tax as a means of getting people to quit. The fact they are trying to stamp out non-prescription vapes just shows they are only concerned about the loss in revenue. Ultimately its just going to cause more stress for a lot of people and for a budget thats about cost of living relief it doesn't make sense. I don't even smoke but its a major flaw IMO.
The attention to improving medicare is good but thats about it

are you serious? Do you want more people to take up smoking? And vaping?
If someone prefers smokes over food then that’s a choice.

 

[nut]

Welcome to the reality of inflation & borrowing money, spending money you dont have/cant repay.

Next year IF/when commodities arent kind to us ..... commodity prices fluctuate, always have/will.

Keep your eye on the US for where we are going.

Agree, that’s why they should have staggered the tax cuts… and only introduced them when a surplus could afford it.
But personally I would have scrapped the stage 3 tax cuts completely and started a commodity Soviergn fund… that would reduce inflationary pressures, decrease the risks of Dutch disease and provide another income stream for the future, that governments can use to keep unemployment low etc,.

 

[Kwality]

Agree, that’s why they should have staggered the tax cuts… and only introduced them when a surplus could afford it.
But personally I would have scrapped the stage 3 tax cuts completely and started a commodity Soviergn fund… that would reduce inflationary pressures, decrease the risks of Dutch disease and provide another income stream for the future, that governments can use to keep unemployment low etc,.

The tax cuts arent a big deal financially in the big picture. On their own they are more politics than financial.

How would you start the Sovereign Fund & dont say do what Norway has done.

 

[peetoo]

An extra $2.85 a day for Jobseeker. $1,232,876.71 a day for nuclear submarines.

$1500 per annum tax increase for low and middle income earners. $9000 tax cut for the wealthy.

7.1% increase on HECS debt will take in more money than the PRRT.

Great to have turfed the Coalition for this.

Those are booby traps obviously

 

[NonPhixion]

are you serious? Do you want more people to take up smoking? And vaping?
If someone prefers smokes over food then that’s a choice.

It will just increase crime imo.

 

[nut]

The tax cuts arent a big deal financially in the big picture. On their own they are more politics than financial.

How would you start the Sovereign Fund & dont say do what Norway has done.

60billion deleted from revenue, whilst expenditure increases isn’t a big deal…???? Please explain.

Tax the crap out of the resource sector over an agreed price… a profit tax, and bank it, and allow it to grow.

 

[nut]

It will just increase crime imo.

So your answer is reduce the cost of cigarettes? To reduce crime? Whilst increasing the cost of health due to affect of cigarettes?

I think we clearly need to increase education spending.

 

[NonPhixion]

So your answer is reduce the cost of cigarettes? To reduce crime? Whilst increasing the cost of health due to affect of cigarettes?

I think we clearly need to increase education spending.

The government has been increasing the cost for years with seemingly little effectiveness. Can you explain why they would ban vapes other than the fact they are losing out on revenue. The only way you will get people to stop is to outlaw it or ban smoking in all public areas.
Increasing the cost is just a net negative to society.

 

[Cap]

60billion deleted from revenue, whilst expenditure increases isn’t a big deal…???? Please explain.

Tax the crap out of the resource sector over an agreed price… a profit tax, and bank it, and allow it to grow.

How would you do something successfully ignoring the really successful country.

Hell of a question