Budget 2011

[drsmith]

The government will no doubt leak much of the bad news out before the night itself (as is tradition).

In terms of what's being discussed in the media at present, we already have potential cutbacks to medical research and according to the following article from The Australian, childcare rebates are to be means tested.

http://www.theaustralian.com.au/nat...x-breaks-will-go/story-fn59niix-1226037489605

I'll also speculate that old favourites, alcohol and tobacco will also cop another hit.

 

[Neutral]

The government will no doubt leak much of the bad news out before the night itself (as is tradition).

In terms of what's being discussed in the media at present, we already have potential cutbacks to medical research and according to the following article from The Australian, childcare rebates are to be means tested.

http://www.theaustralian.com.au/nat...x-breaks-will-go/story-fn59niix-1226037489605

I'll also speculate that old favourites, alcohol and tobacco will also cop another hit.

Excuse my ignorance, but does the budget announcement affect stocks, CPI, rates, currency etc?

 

[Bill M]

Even if it doesn't it doesn't matter because you can talk about anything in the general forum.

I would wait and see drsmith, I don't think they will get away with too much.

 

[Neutral]

Even if it doesn't it doesn't matter because you can talk about anything in the general forum.

Oh no I wasn't implying that I am just curious as to whether it does have an impact or not.

 

[matty77]

Taxes up, spending down.

I feel sorry for my children and future generations.

 

[Julia]

I expect there will be more 'leaks' before the budget is actually delivered.

They put stuff out there to test the waters. If reaction is extreme, viz the current fury over suggested cuts in medical research, they may not do it. But if there's little reaction, possible example being the means testing of the private health rebate, they feel safe enough in going ahead.

And oh how tedious it is that every year there are the inevitable dire warnings that this will be a tough budget, great pain for everyone, when as a minority government they would be politically suicidal to do anything too drastic.

So then when the budget is actually delivered, we are all supposed to smile in abject gratitude and think they are a good government after all.
The pathetic under-estimation of the electorate will come back to bite them.

 

[burglar]

... as a minority government they would be politically suicidal to do anything too drastic. ...

Now Julia, this, I totally agree with ... but isn't it at odds with what you have said in "Super Threads", about drastic govmint intervention to our pensions?

Sorry if this isn't quite on topic, or is it?

 

[Julia]

I don't know what I said in another thread, burglar.
If you have an issue with a post, doesn't it make sense to quote that post, rather than make some vague reference to another thread?
I'm happy to answer if you provide a proper question.

 

[trainspotter]

Excuse my ignorance, but does the budget announcement affect stocks, CPI, rates, currency etc?

Yes it will ......... in the long run. If the budget numbers do not stack up and the ratchet level is set too high it could choke the economy affecting CPI for one. If the international investors persée envision Australia as a "risk" potential on the investment front then it is possible for them to leave our market barren. Potentially as their appetite for "risk aversion" being that the dollar becomes too strong on the mining stocks then it is possible for them to leave us alone thusly sending the little Aussie Bleeder through the floor yet again.

Rates could also start to flagellate as our economy falters on all of the above.

So in answer to your question ....... YES the budget really does matter to these indices.

 

[burglar]

I don't know what I said in another thread, burglar.
...

I am always happy to be wrong !
I looked for, but could not find the post which led to my impression that we need super because there are so many baby-boomers, there will not be sufficient pension to ensure a comfortable retirement.
My apologies, Julia.

But I know a reduction in pension during this term of government is unlikely for the reason that "... as a minority government they would be politically suicidal to do anything too drastic. ..."

burglar

 

[jbocker]

I expect the usual..
Budget
Govt will nudge it, fudge it and smudge it
opposition will sludge it.
and we'll begrudge it.


and it is no more coffee for me!:silly: