AFLW 2024 - Round 9 - Indigenous Round - Chat, game threads, injury lists, team lineups and more.
Tell us all of the proposed savings measures that the ALP have "blocked" that has resulted in the Coalition announcing record budget deficits and the announced $1 trillion in net government debt?
The Libs have made the IR process especially on Enterprise Agreements more complex recently. Which makes the IR process for small businesses harder.
www.abc.net.au
In December last year, after six years of Coalition government, Australia's net debt position had more than doubled and was estimated to be peaking at $392.3 billion in 2019-20, before slowly reducing in size.
But this week's Budget shows that figure will explode in coming years.
Treasury is forecasting Australia's net debt position will be $703.2 billion for 2020-21 (meaning a net debt-to-GDP ratio of 36.1 per cent).
And that debt will increase to $966.2 billion in 2023-24 (to a net debt-to-GDP ratio of 43.8 per cent).
Debt, debt and more debt
Having come into government warning of a debt and deficit disaster, persistent budget deficits and now the coronavirus recession are set to push Australia to its highest public debt since the Second World War.
Read more
Alongside that rapid accumulation in debt is the rapid growth in the value of Commonwealth Government bonds on issue.
According to Treasury, at the start of July this year, the face value of total Australian Government bonds on issue was $684.3 billion (equivalent to 34.5 per cent of GDP).
That's forecast to grow to $872 billion in 2020-21 (44.8 per cent of GDP).
Then it will hit $1 trillion in 2021-22 (50.5 per cent of GDP).
The above has almost nothing to do with the Coalition government increasing net debt from $174.6 billion in September 2013 to announcing it will be over a trillion dollars in a few years time.
Do better next time.
The Coalition had doubled net debt in 6-years even before the COVID19 shutdown occurred.
We've gone from 'debt and deficit disaster' to a trillion-dollar debt with no worries. How does that work?
The Rudd government's debt peaked at $160 billion and the Morrison Government's debt is expected to near a trillion dollars. So how come we're no longer talking about a "debt and deficit disaster"?
Yeh it can.
Its the average Australians including small businesses who will end up paying for the incompetence and over $1 trillion in net debt.
Why stop there , why not shut down the Hospitals , the police stations , the aged care etc on Xmas day ,Easter etc , would save a fortune on penalty rates. I would have preferred to spend Xmas with my kids instead of cooking breakfast for 90 Age care residents on Xmas day. And while you are at it why not tell every one about how the Liberal controlled Senate voted against the supply of money to the Whitlam Govt . Tell both sides or be labelled a fraud
No this is the Coalitions debt.
Bull shit .
Define “savings”.
You’re wasting your time with old mate here. Numerous people have pointed this out to him but still he types out them talkin’ points.
Labor may well be the biggest spenders (perhaps because they care about the entire community) but unfortunately for society no one can match the Libs capacity to simply just give money to their supporters.
Yes at least we actually got something positive out of Labor’s “wreck less spending” liberals have taken the meaning of what national debt is to a d tire new level and we’ve got absolutely nothing out of it to bring the country forward.
