\I have issue with blaming Labor for future deficits. Other's have blamed labor for not making changes to the tax system to spend within their means. The falling ToT and the plunge in Govt revenue from the GFC and far too many tax cuts (labor should never have tried to out bid Howard in the 07 election) are not relevant in the debt and deficit discussion. So the ball is in the Abbott Govt court, and so far they seemed to have dropped it big time.
I seem to remember the coalition saying they could have run surpluses every year Labor was in office, yet it's looking like the deficit this FY might be one of the largest in Australian history. Might even beat last years inflated deficit depending on if China can resist kicking the can down the road.
If the Govt had been offering decent policy and tax reform, I'd be behind them and telling the senate to get out of the way. But so far there's been very little fair and meaningful reform. Youth unemployment should be a nation shame already, yet you support the Govt forcing the under 30s to try and live for 6 months with no income. That's not the kind of Australia I want us to become. We're already too much like the USA. Turning our backs on those who can't find a job in recessionary conditions, and with 14% youth unemployment that's the only way you can describe the current situation. Currently there's something like 7 unemployed for every job vacancy, yet the Govt wants the unemployed to send off 40 job applications a month. Who comes's up witht hat kind of idiotic policy? No need to do a but Labor rant. That's the past. What's Abbott going to do about the here and now and immediate future to the next election?
The GP co payment was poorly targeted. Tighten it up and it might be useful, but forget the medical slush fund and use the money to reduce the deficit. Making the universities like the USA is also not the way to go. The brownstone Unis will charge as much as they can, like the Ivy league colleges do in the USA, while the rest of the unis will bump their fees up as well. There's already not enough nurses and teachers studying. Making the economics even worse for those careers is just plain stupid.
Hockey's ending the age of entitlement made me hope we were going to see some meaningful reform in the current budget. There's nothing in it that's going to help make the tax system more efficient and fairer.
if Hockey does nothing after the MYEFO is released, he needs to resign and get someone in who's willing to put some hard work in to begin treasurer. A few more % of debt to GDP and we'll probably be on negative watch from at least S&P who have already said 30% is the point of a downgrade for Australia. Interest rates will be rising before then and the support the Govt balance sheet has given the banks will be gone. I fear we might have to get to that banana republic moment before the political class starts to take some serious action.
Your argument is very weak.....you lefties just won't accept the Green/Labor left wing socialist wrecked the economy, they are sabotaging the recovery, they have no policies of their own on how fix their own mess, they won't even support their own $6 billion cuts and now you expect Abbott to turn things around in 14 months.
The figures are there for all to plainly see.
How about becoming realistic and admit to the massive Green/Labor mismanagement in 2007/2013 which is the reason why we find ourselves in the current situation.
Get those bloody minded left wing socialists to show some national interest for a change instead of trying to make a bad situation worse..