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Day to Day Politics: Coalition playing catch up politics.

Thursday 21 April 2016  -73

1 So what happened to the “it’s not a revenue problem”? The Coalition is set to raise a lot of it with the news that they are about to hit the superannuation of high income earners. So they should of course. It was an immoral tax discount that had it continued would have in the next couple of years cost as much as the aged pension. Labor can rightfully claim that the Coalition is playing catch up politics because it had addressed the problem months ago.

Remember not so long ago the Treasurer was adamant they would not touch super. This is further proof that it is Labor who is setting the economic agenda.

Mind you, the most confusing of all Coalition spokespeople, Matthias Cormann on News 24 was denying the policy but we all know the good news leaks have begun.

Also consider that Tony Abbott was saying that Labor intended raising five taxes, “a carbon tax, a “housing tax” (reduced negative gearing), a “wealth tax” (a lower capital gains tax discount), a “seniors tax” (superannuation) and a “workers’ tax” on smokers, and they would oppose it all. Now they have ticked off two of them . . . for now.

An observation

The word “lying” (in political terms) has been replaced with the more subtle reference of “overstatement”.

2 Playing catch up also applies to the Coalition’s proposal to make the banks pay the restoration of funding that it had taken away in the 2014 budget. It is estimated thy will have to fork out $120 million. Although given their propensity for ripping people off we might safely assume it will be the consumer who eventually foots the bill.

The Government plans to strengthen ASICs powers but is still saying no to a Royal Commission which the public are overwhelmingly in favor of.

With a list of accusations about poor financial advice, dodgy life insurance, mortgage fraud, rate rigging, corporate bribery and corruption you would think they would take it more seriously.

To quote Ross Gittens:

“For years they’ve been locked in a race to maximise profits. They’ve put profits and executive bonuses ahead of the interests of their customers, and seem keen to resume profit maximising as soon as the fuss declines”.

In any case they are yet again reacting to Labor’s initiatives.

3 At this point it looks as though the Government is set to use our taxes to sell its budget. Well they wont deny it so I’m assuming they will. The dishonesty is appalling. The use of taxpayer funds for political purposes should be banned.

The advertising campaign is set to highlight measures including, super changes,multinational tax changes and an increase to the tobacco excise. All measures the Opposition has had on the table for some time.

Cabinet Secretary Arthur Sinodinos is set to face a Parliamentary Enquiry into Liberal Party donations. Remember the NSW Electoral Commission is holding back money until it reveals the names of private donors. In order to pass the basic pub test Arthur might have to take a lie detector test this time.The last time he gave evidence before ICAC he was suffering from selective amnesia.

5 Further research by Corporate Tax experts reveals that 76 of Australia’s biggest multinationals pay on average 16.2% tax which is half the corporate tax rate.

6 Julie Bishop is again repeating and repeating her lie of 2015 when she said that the Coalition inherited ‚‘the worst set of financial accounts inherited by any incoming government in Australia’s history‘‘ Back then she won Fact Checks Zombie, for the undead claim of the year.

Update. Despite Ms Bishops multiple repetitions of the claim, she was, and still is wrong.

7 Flashback circa 2013.

“As far as school funding is concerned, Kevin Rudd and I are on a unity ticket. There is no difference between Kevin Rudd and myself when it comes to school funding” Mr Abbott said.

My thought for the day.

“Never in the history of this nation have the corporate and privately rich been so openly brazen”.

 

30 comments

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  1. stephentardrew

    Yes John brazen and completely oblivious to the trials and tribulations of the citizens from whom they gain their monopolistic wealth. Where else could you shaft your client-base then blame them for the state of an economy bought and paid from the political class, then sent into recession, by the very banks and financial sectors scared to death of a comprehensive transparent inquiry. People please get it right pensions, unemployment, disability aged care etc. are not a privilege for the well off they are a necessary benefit, “note benefit not cost”, to the society at large. Vilification of the marginalised is turning this country into an amoral, and in many cases immoral, reflection of wholly twisted imperatives. How we teat pensioners, the aged and marginalised is a measure of the ethical resolve of a democracy to provide those necessary services that protect fellow citizens from lives of poverty and hardship. A Nation with a fiat currency has the capacity to pay for all its welfare needs by limiting inequality and distributing wealth equitably.

    By equitably I mean that no citizen should have to live in poverty and hardship through no fault of their own. As Professor Bill Mitchell notes a job guarantee and living wage for all would be a good start. Low income earners spend nearly all of their income which stimulates the economy while the investor class will withdraw investment if they think they will not get high enough returns. There is no consideration for nation building or a move to stability in the financial sector. To claim that the safety net should be privatised is to bleed profits from the already downtrodden. My point is welfare services are not a cost they are a huge benefit to a society and can be used to stimulate growth while forming a more equitable and caring society. The corporate sector, banksters and financiers want only one thing maximum profit for investment so that means there will be a huge cost burden to society when welfare services, utilities and prisons are privatised.

    Wake up fellow citizens you are being sold a lemon encouraged to harm the marginalised while being forced into debt servitude. This is a lose, lose for almost everyone. Remember you may well lose it all at the onset of the next recession. Wake up people the eight year recessionary cycle is upon us with a completely inflated housing bubble waiting to collapse. Nothing much has change since the Global Financial Crisis as the dysfunctional aspect of neo-conservatism are reinforced by the right and left of politics. Banks are still being bailed out so imagine the cost when the next recession is upon us. Point is can you think independently?

    It is time to realise that welfare, government owned utilities, prison management etc. are of immense benefit to a democratic society because they are the foundational principles of justice, equity and nominally controlled utilitarian distribution of goods. Do you really think more of the same is going to save you from disaster?

  2. June M Bullivant OAM

    The Coalition has spent the past three years cutting services to all Australians, Susan Ley goes down as saying she is not frightened of the Labor scare campaign, Maam, it is not the Labor Party, it is us the people who are upset, we vote, we hurt, we pay, we remember. And believe it our not the LNP are so arrogant that they are still announcing the same type policies

  3. Kaye Lee

    When Labor introduced the bank deposit levy, Scott Morrison had a hissy fit saying the cost would be passed on to consumers. I doubt him saying he would be cross if they passed on his levy is going to protect us from increased charges.

    Also, former Asic chief economist Alex Erskine said he was concerned the proposed model will increase the risk that the regulator may be ‘captured’ by the banks it is supposed to be regulating.

    “In the end you’ll get deals between industry and Asic about where Asic’s tolerance for regulatory enquiry is,” Erskine said.

    “If the government’s [soon] going to be paying no part in Asic’s costs then in the end the government’s voice [over] Asic risks being reduced and industry’s voice over Asic risks being increased,” he said.

  4. Carol Taylor

    I have a feeling that it might be Mal himself who is responsible for the leaking in order to knobble the far right conservatives – hence the reason we have Morrison and Corman being contradicted at every turn. Imagine the meeting with Morrison following Joe Hockey in refusing to address any revenue problem, therefore it’s leaked to the media raising expectation that eg the superannuation of the upper crust will no longer attract such extremely generous concessions (they’ll have to find somewhere else to park their cash for tax avoidance purposes). Morrison is therefore all but trapped into having to follow such a policy.

  5. Jaquix

    I think Jacquie Lambie was spot on when she said this week that “they were born with silver spoons up their arse”. A refreshing take, and she is right there on the job with these people, so sees them away from the tv cameras. If Labor and The Greens keep on with their progressive good-for-the-people-of-Australia message, and the LNP continues on its farcical, hypocritical, privileged and out of step roadshow, then we should get a new government very soon.

  6. Carol Taylor

    Kaye Lee, thank you for bringing this up – much gushing from the msm about the banks having to pay for the $120m “beefed up” ASIC. Of course it’s not beefed up at all, merely funding restored from that which it was ripped from it in the first place in the 2014 budget. And as far as getting the banks to pay for it, since when did the banks ever pay for anything without passing costs onto the consumer? Also a question, if ASIC were unable to deal with the problems prior to its funding being ripped, what makes anyone think that it will be able to deal with it once its funding is restored?

  7. Kaye Lee

    The other issue with ASIC is that its investigations go largely unnoticed whereas a RC is very public. I am astonished by the Coalition’s chutzpah in labelling the RC as a costly political stunt. What the hell was the Pink Batts RC? And the TURC? They also said calling Sinodinis to appear before a Senate Committee set a dangerous precedent. How about them insisting that Cabinet papers be released? And them calling three Labor leaders to appear before RCs? They rely on us to have the memory of a goldfish.

  8. z

    would ASIC investigate any wrongdoing from financial service very seriously if banks paid $120m to them ? just same as donator can add their influence to The Govern’t

  9. Glenn K

    astounding that the cop to investIgate the banks is to be paid for by the banks. du-oh! i see a future where the banks will argue how little has been found so funding can reduce…… the opportunity for the banks to manipulate and influence is astounding, particularly as they will adopt a long game strategy approach, unlike the short term political sound bites.
    just extraordinary this govt.

  10. lawrencewinder

    Never in the history of politics have so many lies of such magnitude been uttered so often by so few.

    Comedy writers have been superseded and now authors of dystopian fiction are being relegated to the margins.

  11. Möbius Ecko

    Doesn’t take them long to fall back into their standard negativity and being and opposition instead of a government. Remember all those promises on being a positive government? With an election looming what we’re now seeing, not only from the government but the MSM as well, is attack after attack on Labor. Even government policy announcements are framed as attacks against Labor.

    Out comes the millions in tax payer funded political advertising, and even that was framed as an attack against Labor because they do it too.

    I’m sure NoS is their campaign manager.

  12. gee

    i sometimes wonder why i am so biased against the LNP, but then i remember something. Pretty much every f%$#ed up policy that has made life shit for gen X and on has been dreamed up and implemented by some LNP wanker. particularly that roach Howard and his putrid gaggle of acolytes.

  13. Michael Taylor

    Mobius, I’m expecting the Murdoch media to go absolutely feral on Labor this campaign. The admiration for the Coalition government will go up a notch or two as well. It’s going to be an ugly campaign.

  14. Jaquix

    Lies, lies and more lies. And swallowed by so many! Truly breathtaking. Malcolm thundering about “political stunts” like calling Royal Commissions….. (Wow!). Julie Bishop cranking it up with “we inherited the worst set of financials..” WRONG said FactCheck. (strong for them, usually they use Misleading or More to it Than That) But Julie gets WRONG. I take comfort in the fact that Turnbull is looking pretty frazzled these days, compared to 6 months ago. (Julie of course just gets more work done to erase the damage) By contrast Bill Shorten looks positively relaxed! The difference must be that the liars are finding it hard to keep up with their own lies.

  15. Jaquix

    Well Kaye, chutzpah is one of Malcolm’s favourite words (not heard so much these days) He probably found it very useful in his Goldman Sachs days. Actually I think it sums him up in one word.

  16. Jaquix

    Murdoch has a problem though, he cant abide Turnbull!

  17. Kronomex

    Arfur will be standing in front of his rose coloured mirror each morning and practicing his “I don’t remember.” “I wasn’t there.” “I don’t recollect that.” “I never heard anyone talk about it.” lines.
    The LNP mindset reminds me of a line from, of all places, the Three Stooges short Half-Shot Shooters: Moe to Curley, “Every time you think you weaken the nation.”

  18. kerri

    ScoMo’s hairbrained idea that the banks will pay for their own “tough cop on the beat” neglects to cover one important point? Given the banks propensity to NOT pass on interest rate cuts how will he prevent them from NOT passing on this new levy in higher bank fees and charges?
    The average punter loses yet again!
    The banks police themselves!
    The customers pay for it!
    And the whole capitalisitic, money making, big end of town, wagon rolls on indefinitely.
    Vote Labor!

  19. John

    Lately Turnball,s face has been showing a great deal of strain. I feel he is in a high degree of mental pain,anguish and dilemma.But you chose this road Malcolm. You could have become an Independent ?

  20. Michael Taylor

    I’m a bit rushed so can’t hunt up the details, but during the GFC didn’t Rudd do something to protect our banks, and was quickly blasted by the opposition for doing so?

  21. jim

    A conservative lying bishop, a mere puppet for the right wing rich club,,Australians please be rid of this lying plastic Liberal party or let big business rule our lives with more and more cuts, how can you trust them after all the Abbott Lies.?

  22. Andrew

    Can anyone please tell me where “Self Regulation” has actually worked for the long term? I can’t think of anywhere it has been successful!!

    This is what Government is supposed to do to ‘even the playing field for all participants’

    How dare they take with one hand and then say the ‘tough cop’ is getting more money ($7M dollars over what had already been taken out of ASIC) ids not more money to make it perform better. It takes time to re-tool new employees after sacking the same numbers previously.

  23. Michael

    The bigger the lie, the more people repeat it, the more people believe it – attributed to the founding father post war modern media.
    Current media laws/rules are a human construct = therefore they can be de/re/constructed

    Information is society’s knowledge lubricant and part of the common wealth – abuses of which should be taught in schools and practices of transparency lauded.

  24. paul walter

    Michael, you get an exampleof how feral in the form of last Monday’s QA, where Caroline Overington monopolised a question on 60 Minutes, perservering in denial of chequeboook journalism despite Tony Jones pointed reference to the Australians own story of $115,000 for the logistics of the misfired prank.

  25. paul walter

    Andrew it is like loosing hungry rabbits in a lettuce patch..”trust me”.

  26. Paolo Soprani

    Why on earth would anyone vote for The Coalition? By the way, the LNP only exists in Queensland. The Coalition have noting of functional value to offer the Australian people.

  27. Michael Taylor

    Thanks Bob. I’ll get my eyeballs onto that when I get home.

  28. Kaye Lee

    How can they get away with saying Bill Shorten wants to spend taxpayers’ money on an RC when they are intending spending $160 million on a totally pointless marriage equality plebiscite that the nutters say they will ignore anyway?

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