# The budget, what's your thoughts?



## The Mint Man (8 May 2007)

As the thread title says, whats your point of view.
I think that its a fairly good budget. Education gets a big shot in the arm, thats always good IMO. Tax cuts are good for us tax payers.
Discuss.


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## Pommiegranite (8 May 2007)

*Re: The budget, whats your thoughts?*



The Mint Man said:


> As the thread title says, whats your point of view.
> I think that its a fairly good budget. Education gets a big shot in the arm, thats always good IMO. Tax cuts are good for us tax payers.
> Discuss.





A big pile of steaming poo  

I wanted a $2K increase in the baby bonus for our big day in August.


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## Mousie (8 May 2007)

*Re: The budget, whats your thoughts?*

No further CGT and company tax rate discounts. Bummer that


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## Mousie (8 May 2007)

*Re: The budget, whats your thoughts?*

Add to that no discontinuation of negative gearing and FHOGs for property just about sums up the continuing nonsensicality of the Budget


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## constable (8 May 2007)

*Re: The budget, whats your thoughts?*



Pommiegranite said:


> A big pile of steaming poo
> 
> I wanted a $2K increase in the baby bonus for our big day in August.




Ditto , (we've got one due the 18/8) and i bet Duckman would also second that!


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## YChromozome (8 May 2007)

*Re: The budget, whats your thoughts?*

Pocketful Costello mining boom budget election - Nicholson animation

That sums it up. I think I can be brought with a Ice Cream too.


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## nizar (8 May 2007)

*Re: The budget, whats your thoughts?*

Yeh i wanted tax-free rate to be increased........


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## Jimminy (8 May 2007)

*Re: The budget, whats your thoughts?*



Pommiegranite said:


> A big pile of steaming poo
> 
> I wanted a $2K increase in the baby bonus for our big day in August.




Don't worry - you'll have plenty of steaming poo come August.....


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## YELNATS (8 May 2007)

*Re: The budget, whats your thoughts?*



Mousie said:


> No further CGT and company tax rate discounts. Bummer that




Agreed, and there's nothing in it for small business. Why not a lower, say a 15%-20% company tax rate for small businesses under $2 million annual turnover?

Also the doubling of the government superannuation co-contribution for only the 2005-2006 year smacks of a vote buying gimmick. If you're going to make a meaningful gesture, it should be made a permanent fixture.

regards YN.


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## Realist (8 May 2007)

*Re: The budget, whats your thoughts?*

Everyone wants something for themselves.  You are all greedy and selfish!!!

And while I'm on the subject of budgets why not a cut in the beer tax!


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## constable (8 May 2007)

*Re: The budget, whats your thoughts?*



Realist said:


> Everyone wants something for themselves.  You are all greedy and selfish!!!
> 
> And while I'm on the subject of budgets why not a cut in the beer tax!




Yes yes,take the tax off alcohol and stick it on the cigarettes!


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## YoungGun (8 May 2007)

*Re: The budget, whats your thoughts?*

Marginal movement in income tax brakcets a small bonus, but i was holding out for further capital gains tax relief


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## Julia (8 May 2007)

*Re: The budget, whats your thoughts?*



nizar said:


> Yeh i wanted tax-free rate to be increased........




Nizar, the tax free threshold has in fact been increased from $6000 to $11,000 as I heard it.


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## Julia (8 May 2007)

*Re: The budget, whats your thoughts?*



Pommiegranite said:


> A big pile of steaming poo
> 
> I wanted a $2K increase in the baby bonus for our big day in August.




The baby bonus is already pretty generous imo.  Far too many people just use it for a spending spree on anything other than the baby.

Once upon a time people used to have babies just because they wanted them, not because of any cash attached to the end product.


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## stoxclimber (8 May 2007)

*Re: The budget, whats your thoughts?*

I think that the tax free threshold was increased last Budget to take effect this year, and additionally Costello had increased the low income tax offsets this year to raise the effective threshold for low income earners [such as broke students like me] reasonably high!


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## Smurf1976 (8 May 2007)

*Re: The budget, whats your thoughts?*



Julia said:


> The baby bonus is already pretty generous imo.  Far too many people just use it for a spending spree on anything other than the baby.
> 
> Once upon a time people used to have babies just because they wanted them, not because of any cash attached to the end product.



Strongly agreed.

All these bonuses, grants and so on have one ultimate purpose - creation and perpetuation of big government.

Why not just stop taking so much money in the first place and stop handing it back again, largely to the exact same people? Makes a lot of sense but of course it does away with quite a bit of government so won't happen.

http://www.abc.net.au/news/newsitems/200705/s1915201.htm



> Following unprecedented public concern about climate change, the Treasurer has announced $741 million for "practical climate change initiatives", such as a doubling to $8,000 of rebates for the installation of solar panels by households.




That bit sums it up pretty well IMO. Lots of money for things that will make a trivial difference but (at least judging by media reports) no money for alternatives that are truly revolutionary.


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## YOUNG_TRADER (8 May 2007)

*Re: The budget, whats your thoughts?*



Pommiegranite said:


> A big pile of steaming poo
> 
> I wanted a $2K increase in the baby bonus for our big day in August.






Jimminy said:


> Don't worry - you'll have plenty of steaming poo come August.....




LOL thats the funniest comment I've seen on here for awhile 

On the topic of tax cuts, they have come along way since say 2005, but still have a long way to go, lower the top rate to 35% I say!


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## moXJO (9 May 2007)

*Re: The budget, whats your thoughts?*

I was going to have a big whine about the state of the schools. My aunty is a school teacher and told me that she brought in the principle to look at a paragraph an imported teacher had written on the board and how every word had been spelt wrong(the whole school has massive problems with this). My son’s school seems to be run more like a business (and a failing one at that in the teaching department) and seems to push off the work and blame onto parents.This is where I thought Rudd will get my vote.

So I was happy to see money being pumped into education. The budget can never be everything to everyone. And at least every year something is being tackled.The green house gas thing will likely come up ,but I have not seen it pop up in this thread.So wonder exactly what position this has in peoples lists of things to do?


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## doogie_goes_off (9 May 2007)

*Re: The budget, whats your thoughts?*

No CGT relief

Infrastructure spending put off until 2009?

Squirreling away money into education funds that will replace normal education funding in time once coffers are not so full

It's a joke and Labour only cares about votes too.

Where have the clever ideas gone?

Vote for an independent.

There is no choice left.


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## The Mint Man (9 May 2007)

*Re: The budget, whats your thoughts?*

Good to hear your thoughts ASFers,
I agree with julia's thoughts above. parents get a sweet deal already!
Also, parents will get help with child care.
As for education, I know many teachers that will take $5000 just to update their knowledge..... while at the same time they will be on holidays getting paid anyway. 
As for green house issues, well I would rather $8000 rebate for installing $14000 worth of solar panels etc. instead of Labours idea of an interest bearing loan on the whole amount.
On tax cuts,
I think over the past 5 years they have done as fair a job that they could have on balance, and certainly over the last 10 years they have done a good job. Back in 1996 the highest tax rate (which was higher then it is now) cut in at just $68000 (in todays dollars) while today it cuts in at $180000, thats over a 150% increase! Not too shabby IMO.
 

Cheers


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## clowboy (9 May 2007)

*Re: The budget, whats your thoughts?*



Julia said:


> Nizar, the tax free threshold has in fact been increased from $6000 to $11,000 as I heard it.




That's not right.

Tax free threshold is still 6k, but the low income rebate has gone from 10k to 11k (ie up 1k).


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## Rafa (9 May 2007)

*Re: The budget, whats your thoughts?*

thats correct clowboy...

interesting budget, certainly the rep from busness they kept interviewing on ABC loved it, and she even felt sorry for labor cause most of their thunder has been stolen...

as someone said earlier... 
this liberal govt believes in fat govt... which is decidedly un-liberal. why take the money in the frist place if you just plan on giving it back!


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## krisbarry (9 May 2007)

*Re: The budget, whats your thoughts?*

I am very happy...I get another $1,500 super co-contribution on-top of the already paid $1,500, for the 2005/06 tax year

a 300% return on a $1,000 investment


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## The Mint Man (9 May 2007)

*Re: The budget, whats your thoughts?*



Stop_the_clock said:


> I am very happy...I get another $1,500 super co-contribution on-top of the already paid $1,500, for the 2005/06 tax year
> 
> a 300% return on a $1,000 investment



yes, I forgot to mention that before. This will win a few hearts.... even Im considering it!


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## Rafa (9 May 2007)

*Re: The budget, whats your thoughts?*

just a questions...
is $1000 to get $3000 the maximum figure one can contribute, or can you put in more, and if so what is the limit?


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## Julia (9 May 2007)

*Re: The budget, whats your thoughts?*



clowboy said:


> That's not right.
> 
> Tax free threshold is still 6k, but the low income rebate has gone from 10k to 11k (ie up 1k).




Yes, I should have been more clear.  For those eligible for the tax offset this has apparently been increased, effectively meaning those people don't pay tax on income up to $11,000.


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## Happy (9 May 2007)

*Re: The budget, whats your thoughts?*



Julia said:


> Yes, I should have been more clear.  For those eligible for the tax offset this has apparently been increased, effectively meaning those people don't pay tax on income up to $11,000.





As mentioned before, why meddle with taking tax and then give it back?



There must be some logic in it, but I just don't see it.


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## macca (9 May 2007)

*Re: The budget, whats your thoughts?*

One problem with creating infrastructure is that we don't have many unemployed that can be used to actually do the work.

I think most business people will tell you it is hard to get good people and a wage push is a very real threat to interest rates.

I am glad that the teachers union based mania of the past decade, where everyone was assumed to be an academic and go to Uni, has finally been shown to be BS and we now have trade schools encouraging those who wish to learn a trade.

Hopefully we will have a lot more happy teenagers, boys in particular, but girls as well, learning a skill that they enjoy using rather than spending 3-5 years at Uni, incurring a HECS debt and then finding they don't like the work.


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## JMcDog (9 May 2007)

*Re: The budget, whats your thoughts?*

The co-contribution is up to a maximum of $1,500 based on your contribution of $1,000 (for low income earners).  i.e. you could contribute your $1,000 before June 30th and the Govt. will deposit $1,500 into your Super fund, as their co-contribution, later this year once they have received/verified your Tax Return etc.  HOWEVER, in last nite's budget it was revealed that an ADDITIONAL co-contribution will be made for those who qualified LASt tax year.  i.e. If you have already received a co-contribution for the 2005/2006 tax year, you will receive the same again.... up to the maximum of $1,500.  This will apparently be paid into your super fund before 30th June 2007.  
Hope this helps.


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## Rafa (9 May 2007)

*Re: The budget, whats your thoughts?*

thanks for that...

so it looks like if i didn't contribute extra last year, its too late...


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## Mousie (9 May 2007)

*Re: The budget, whats your thoughts?*



Happy said:


> As mentioned before, why meddle with taking tax and then give it back?
> 
> 
> 
> There must be some logic in it, but I just don't see it.




The logic? The government is facing criticism on a lot of things which they claim they can't (read: don't want to) address, so they cheer folks up by meddling with tax. Keep the masses happy by not undoing their previous excesses, like how the FHOG and negative gearing are. All those two have done are achieving ever higher property prices without addressing the core problem: inadequate land supply for building property. This is because undoing previous excesses is gonna piss a hell lot of people off who's already benefiting from them, and this is an election year. Not worth the risk, even though the logic's deafeningly compelling.


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## Smurf1976 (9 May 2007)

*Re: The budget, whats your thoughts?*



Rafa said:


> as someone said earlier...
> this liberal govt believes in fat govt... which is decidedly un-liberal. why take the money in the frist place if you just plan on giving it back!



Exactly. I'm not against government doing things but it's ridiculous this amount of giving and taking from the same people. So many patches everywhere suggests the tax system itself needs a major overhaul.

Trouble is, fixing the problem gets rid of quite a bit of what the government is doing with all the patch ups so they won't be keen on it.


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## Happy (10 May 2007)

*Re: The budget, whats your thoughts?*



Smurf1976 said:


> Exactly. I'm not against government doing things but it's ridiculous this amount of giving and taking from the same people. So many patches everywhere suggests the tax system itself needs a major overhaul.
> 
> Trouble is, fixing the problem gets rid of quite a bit of what the government is doing with all the patch ups so they won't be keen on it.





Yes, they keep themselves busy and having complicated system justifies their numbers.


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## Happy (10 May 2007)

*Re: The budget, whats your thoughts?*



> From ABC, May 10, 2007
> 
> 
> BUDGET 'IGNORES PETROL SNIFFING'
> ...








> programs for 12 other communities to give petrol sniffers something else to do.




For me days were and are too short for everything I want to do.

Things changed, now you need somebody else to pull your finger out and do something meaningful with it.


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## The Mint Man (10 May 2007)

*Re: The budget, whats your thoughts?*



Happy said:


> For me days were and are too short for everything I want to do.
> 
> Things changed, now you need somebody else to pull your finger out and do something meaningful with it.



Well said....
What a load of rubbish that is! there are alot of people with problems out there, it would be impossible to fix them all at once. Like you said they can go a long way to fixing themselfs by pulling their own finger out.


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## Rafa (10 May 2007)

*Re: The budget, whats your thoughts?*

To true, especially when there aren' t many votes in it anyway...


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## The Mint Man (10 May 2007)

*Re: The budget, whats your thoughts?*

Anyone going to watch Kevin Rudd's right to reply tonight?


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## waza1960 (10 May 2007)

*Re: The budget, whats your thoughts?*

Slightly off topic but I reakon Costello is the best treasurer ever.I am impressed by his knowledge and confidence that shows whenever he is interviewed although a little too arrogent perhaps.


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## Julia (10 May 2007)

*Re: The budget, whats your thoughts?*



The Mint Man said:


> Anyone going to watch Kevin Rudd's right to reply tonight?




I did try, but boredom got the better of me and I changed channels.

Especially I find his constant use of unnecessary metaphors distracting and redundant.

Anyone else?


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## Dutchy3 (10 May 2007)

*Re: The budget, whats your thoughts?*

I was upset that the ABC had something like 3 hours of budget analysis booked for the Tuesday night time slot! Tuesday night is BILL night!!!! My wife latter told me that The Bill still came on at 8.30pm ... I missed it as the dredded gastro took me down that day and fell asleep at about 7.30pm ...

Didn't even record it for me ....!!!!!!!!!


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## Duckman#72 (10 May 2007)

*Re: The budget, whats your thoughts?*



Julia said:


> I did try, but boredom got the better of me and I changed channels.
> 
> Especially I find his constant use of unnecessary metaphors distracting and redundant.
> 
> Anyone else?




Hi Julia

I watched Costello on Tuesday and tried to give Kev a go tonight but had to turn it off.

Has a touch of the "Peter Beattie's" about him. Howard might be "too smart by half"' but Kev is "too smooth by half". So full of spin and rhetoric. Great big picture stuff but not so sure on the practical details.

I've seen Labour's ideas on BAS changes and it is bloody scary. The Coalition's big assets are still Gillard and Swan. Very unimpressive - both of them. Swan's response to the budget was forgettable.

Regards

Duckman


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## Julia (11 May 2007)

*Re: The budget, whats your thoughts?*



Duckman#72 said:


> Hi Julia
> 
> I watched Costello on Tuesday and tried to give Kev a go tonight but had to turn it off.
> 
> ...



Hi Duckman,

Yes, you've described them very well.  When Kevin Rudd was elected leader I was quite pleased and would definitely have considered Labor as an alternative government.  Not any more.

Regards
Julia


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## Rafa (11 May 2007)

*Re: The budget, whats your thoughts?*

don't think that response would have been a vote getter...
it was a rather measured speech, more focused on big picture stuff...

but i guess in opposition, what more can you do...
its not like you announcing a tax cut is actually going to mean much.

all that needs to be saved up for the election.

i did like the stuff on technical workshops in schools...
after yr 10, there is simply no emphasis nowadays on technical trades, yr 11 and 12 are only focussed on University entry... which is not really suited for all students


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## The Mint Man (11 May 2007)

*Re: The budget, whats your thoughts?*

I cant agree more with you Julia & duckman. My exact words after it was 'that was piss weak, how can Australia possibly put them in control?'.
It was boreing at best, nothing new said. Duckman, your 100% right on Rudd and his big plans but no plan to get there. 
I also agree with you on Swan's response to the budget.... Swan sounds too graceful to me, more like Goose.
On the loans for solar panels etc, As I said in another post, the Liberals $8000 worth of rebates would be much better.
I also liked how Rudd said 'three' with such conviction when he was outlining that he would put 3 new universities up..... funny, I thought I heared that somewhere else oh thats right I did on tuesday night!!! 
Julia, about the metaphors... I hear ya. I liked the one about building a big engine or something along those lines.
Rudd also wants to put $250 million towards plugging leaks in our water pipes, well Id like to know how he knows which pipes need doing and those that dont....and would $250 million be enough? In my area we are having enough trouble catching the water in the first place! we had to build a pipeline from the Hunter to pump extra in. Would be much better putting that money (or some of it) towards catching more water.
I did think that his idea about teaching foreign language in schools was a good one but I would imagine that $65 million over 4 years wouldnt be enough.

All I can say is, god help us if Labour gets in 

Cheers


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## Happy (11 May 2007)

*Re: The budget, whats your thoughts?*

Over the years it went like this- 

Liberals filled up the purse and Labor emptied more than was in it, for Liberals to fix it.


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## somesortoftrader (11 May 2007)

*Re: The budget, whats your thoughts?*

I guess its hard to make ground as an opposition when the Govt hasn't done alot wrong..... but truly Rudd is starting to sh*t me!

On Wayne Swan: .......he said something the other night along the lines of "we'll keep the budget in surplus..._*over a cycle'*_" oh dear!

On Gillard: She needs to stop thinking like a SLATER & GORDON Lawyer....and more like a potential minister that is capable of acting for everyone! ..... this old trade union thinking system, that all employers are evil is just pathetic.


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## The Mint Man (11 May 2007)

*Re: The budget, whats your thoughts?*



Happy said:


> Over the years it went like this-
> 
> Liberals filled up the purse and Labor emptied more than was in it, for Liberals to fix it.



:iagree:


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## Rafa (11 May 2007)

*Re: The budget, whats your thoughts?*

yeah, i agree too...
except this time, Rudd has not spent anything, and he is getting canned for it too!

its a case of damned if you do, and damned if your don't...
it simply highlights how hard it is to win gov't from opposition.


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## Ants (11 May 2007)

*Re: The budget, whats your thoughts?*



> Over the years it went like this-
> 
> Liberals filled up the purse and Labor emptied more than was in it, for Liberals to fix it.



NO! The world economic situation filled up our puse, and the liberal government is spending it on its self interests ask any battler.


> I guess its hard to make ground as an opposition when the Govt hasn't done alot wrong



Are you kidding, I strongly disagree. public education, health- aged care, hospitals. The environment. ALL IN THE ****TER! Who has presided over all of this. Liberals.

The liberals and labor is getting there are antiquated systems of government and commerce.

And whats with the term young liberal that should be an oxymoron.


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## Rafa (11 May 2007)

*Re: The budget, whats your thoughts?*

i think the gov't done a lot wrong, but as this budget is shown, they have the power to fix it...

its fair to say, and i think even the hardcore liberal supporters would have to agree, its only becuase its an election year that they have done the following...
1. begun to think about climate change
2. come up with a university endowment fund
3. decided to re-instate the no disadvatage tests on low to middle income earners
4. boosted infrastructure spending (tho how much will go to the real hot spots, and how much will go into the marginal seats, is still to be established).

a strong opposition party is a must for good government, and if nothing else, atleast that is what we have now, and for that i am gratefull.


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## Happy (11 May 2007)

*Re: The budget, whats your thoughts?*

Need for opposition only proves that government cannot be trusted and it is very expensive system to keep government honest.

On the other hand existence of opposition pushes government to be rather popular than willing to fix some difficult issues, like complex tax for example or spend big to fix water problems.


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## chops_a_must (11 May 2007)

*Re: The budget, whats your thoughts?*



Rafa said:


> 2. come up with a university endowment fund



And what a huge white elephant that is.

It only gives an extra ~150m a year to Universities. And that's only for new buildings and infrastructure! Forget about money to keep the best staff, let alone attract it.

The unis probably need that 6b right now. Most are technically insolvent. It's an absolute disgrace. No wonder we have nation wide skill shortages. You could have picked that 6 or 7 years back when most Unis had to get rid of departments and courses just to stay afloat.

But paying 6b to Unis right now probably wouldn't even make up for the damage this government has done to higher education over the last 10 years. And in the end, it does have an affect on the economy, like we are seeing now.


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## petervan (11 May 2007)

*Re: The budget, whats your thoughts?*

Agree about university funding, my sister is a proffeser and is amazed at the difference for her child to study and her free ride thru UNI. Thanks to the fact it was free she was able to study and went on to discover advanced genetic research used by police worlwide today.She gets half price for her kid but still expesive.My point high costs and debt keep people away


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## Julia (11 May 2007)

*Re: The budget, whats your thoughts?*



Ants said:


> NO! The world economic situation filled up our puse, and the liberal government is spending it on its self interests ask any battler.
> 
> Are you kidding, I strongly disagree. public education, health- aged care, hospitals. The environment. ALL IN THE ****TER! Who has presided over all of this. Liberals.
> 
> ...





Other than aged care, and tertiary institutions, the other areas you nominate as being failed (and I agree) are the responsibility of State governments all of whom are Labor.

Can you perhaps rewrite your last sentence above - it doesn't seem to make sense as it stands?


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## chops_a_must (11 May 2007)

*Re: The budget, whats your thoughts?*



Julia said:


> Other than aged care, and tertiary institutions, the other areas you nominate as being failed (and I agree) are the responsibility of State governments all of whom are Labor.



So the states were meant to sign Kyoto were they?


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