What Does Gas Have In Common With Potatoes?

Every now and then some idiot will tell you that schools should…

A Dying Breed: Young Voters and the LNP

The Liberal-National COALition has had, to put it lightly, a bad time…

Please don't ask the LNP about their future…

"Had I been asked about these matters at the time, I would…

Baguette Listings: Why Food is Politics

On November 30, the French baguette was formally added to the United…

Get out of the gutter

By 2353NM You may not have heard of Mike Rinder. A Scientologist for…

The Raider Spirit: The Unveiling of the B-21

The US military industrial complex has made news with another eye-wateringly expensive…

Two men found dead on the Moon

As we approach the 50th anniversary of the Apollo 17 mission -…

Whither Constitutional Change?

Within a very short space of time, we are going to be…

«
»
Facebook

It’s not all bad news…..

 

The good news from the budget

Mining

  • The Government will provide $100 million over 4 years for minerals exploration, by giving small explorers not making any taxable income access to a refundable tax offset for their Australian shareholders.
  • The Government has spared mining an increase in the diesel fuel excise. Currently commercial vehicles used in mining and agriculture get a rebate on the diesel fuel excise that drops it to six cents per litre. Before the budget there had been calls to raise this in line with the petrol fuel excise.
  • The budget also outlines $3.4 billion over the next three years from the abolition of the Minerals Resource Rent Tax.

Defence

  • The Government is bringing forward $1.5 billion in spending from 2017-18 to earlier years.
  • Any efficiencies found in Defence costs will be reinvested back into Defence, unlike the majority of other Commonwealth departments who are expected to return an efficiencies.

Infrastructure

  • The Government has outlined $11.6 billion in funding for new projects.
  • Part of this funding takes the form of an asset recycling scheme, where the Federal Government would give up to 15 per cent of the value of any State assets that are invested in new infrastructure projects.
  • Some of the infrastructure funding comes using unallocated funding for the Building Australia Fund.
  • The Government expects to raise $2.2 billion (included in the $11.6 billion) over the next four years indexing the petrol fuel excise, all of which will be channelled into roads funding.

The Private Sector

  • In his speech the Treasurer has reiterated his commitment to the 1.5 per cent cut in to company tax rate along with the 1.5 per cent levy on big businesses to pay for its maternity leave. However neither figure, along with the paid parental leave scheme are listed in the detailed budget figures.
  • The automotive sector will endure a net loss of money as the Federal Government has cut short or cancelled programs in response to the announcements by Toyota and Holden that they would join Ford in ceasing Australian car manufacturing.
  • The budget announces the creation of the Entrepreneurs Infrastructure Programme at a cost of $484.2 million over five years, which aims to support the commercialisation of good ideas and provide market and industry information and advice.

High Income Earners

  • High income earners are to be hit with a 2 per cent Debt Levy, kicking in for on incomes greater than $180,000 per year; however this levy will only affect them for three years.
  • They will also be impacted by the fuel levy surcharge changes, which will see petrol prices indexed to inflation every six months, however to a lower degree than low income earners.
  • The decision to reduce the maximum amount payable by the Government’s maternity leave scheme will negatively impact women earning over $100,000 per year.
  • The Government has however resisted calls to clamp down on the major tax minimisation schemes, such as negative gearing and superannuation concessions, which allow high income earners to offset large portions of their income.
  • However, related to the establishment of this one-stop shop, the Government is eliminating eight separate industry assistance bodies and programs that perform a similar function to save $845.6 million over five years.

Medical Research

  • The Government has announced a $20 billion Medical Research Future Fund.
  • Money for the Fund up to $20 billion will come from savings in health care revenue, including the $7.00 GP co-payment.
  • The aim of the fund is to distribute ongoing funding for medical research, with these distributions to hit $1 billion by 2022-23.
  • Despite this massive increase in medical research, funding for other research organisations including the CSIRO (down by $114.4 million over four years) will be reduced by $146.8 million over four years.

 

The bad news from the budget

All of these groups will be worse off

Foreign Aid

Families

Senior Citizens

Education

Health

Public Service

Unemployed

Young people

People with a disability

Low income earners

Public broadcasting

Ironically enough this excellent summary is brought to you by the ABC

 316 total views,  3 views today

62 comments

Login here Register here
  1. Kaye Lee

    Miners got their mining tax cut, their carbon tax cut and their corporate tax cut. Tonight they got to keep their fuel subsidies as well…heavy lifting? Carrying their bags of money must be exhausting…

    Stand down, there is no budget emergency after all

  2. Kaye Lee

    The federal government will rip $80 billion from schools and public hospitals in the next decade, as Commonwealth spending earmarked for the states and territories is slashed

    http://www.smh.com.au/business/federal-budget/states-face-huge-shortfall-in-funding-20140513-388b8.html

    The historic changes effectively tear up funding agreements with the states and topple two of the pillars of Australia’s system of universal healthcare – bulk-billed treatment under Medicare, and free care in public hospitals

    http://www.smh.com.au/business/federal-budget/federal-budget-2014-commonwealth-to-slash-share-of-hospital-funding-20140513-38862.html#ixzz31aoNPgZj

  3. Kaye Lee

    The Abbott government’s first budget revealed job seekers applying for Newstart or Youth Allowance, who have not been previously employed, will face a six-month waiting period of no income support before they are eligible for payments by undertaking 25 hours a week in the Work for the Dole program. Once they have spent six months on the program, they will lose income support for another six months unless they undertake training or study

    http://www.theguardian.com/world/2014/may/13/young-australians-to-face-six-month-wait-for-unemployment-benefits?CMP=twt_gu

  4. Kaye Lee

    The ABC’s budget will be cut by $120m over the next four years as a result of decisions made by the Federal Government in tonight’s budget. Operational funding cuts of close to $40m over four years will come on top of the termination of the $220 million contract to deliver the international broadcasting service, Australia Network. The 2014-15 budget also foreshadows further significant funding cuts.

    ABC budget response

  5. Terry2

    How, in good conscience, could you possibly recommend to a young graduate a career in public service when you know that with every change of government they are likely to be sacked not because they were not doing their job but for purely ideological reasons.

    Perhaps, with this $10,000 bribe to employers to employ over fifties, we could see a surge of employment in the public service with over fifties and the government paying itself the $10,000.

  6. Kaye Lee

    University fees will be completely deregulated, allowing universities to charge students what they like. Students are also slugged extra in lower thresholds for HECS repayments, and in lower Commonwealth funding for each university place. Several scholarship programs have been slashed or abolished.

    There were no changes to big tax breaks for business and wealthy individuals, such as negative gearing, capital gains tax, and superannuation exemptions.

    Those relying on family payments will also suffer. The government is tightening the rules around Family Tax Benefit B, and freezing the payment rate. Families will no longer receive Family Tax Benefit B when their youngest child turns six.

    Seniors will also take a hit. Concession card holders will receive less generous access, and the Seniors Supplement will be axed. In the longer term, the rate of the pension will be frozen in real terms, undoing some of the gains in the rate of the pension made under Labor.

    Highlights Of Hockey's 2014 Budget

  7. The Trees

    The amount of spin was breathtaking.
    Sadly Labor’s responses ,so far,have been piss weak to put it crudely.

  8. Möbius Ecko

    Even Hockey’s much self vaunted infrastructure fund is there at the behest and benefit of the big miners. They have been begging for more and bigger road, rail and ports to be able to ship their raw materials out faster, and thus reap in profits faster. Whilst of course depleting the finite resources faster.

    In the meantime ordinary road users will be slugged with not only higher fuel costs but large tolls to use these roads whilst other infrastructure more important to them crumbles around them.

    The other huge spend that has a sector of big business salivating is the future fund for medical research. The large biotech and pharmaceutical companies must over the moon at the moment as they can see getting huge swaths of public money in perpetuity whilst also being able to gouge that same public for the products their research produces.

  9. Kaye Lee

    The independent Treasury and Finance department PEFO report, prepared in August using Labor policies, forecast a deficit of $30.1 billion for 2013-14 and $24 billion for 2014-15 with a forecast surplus in 2016-17 of $4.2 billion.

    For all Hockey’s supposed savings, he is forecasting a $29.8 billion deficit using Coalition policies. The Budget does not return to surplus over the forward estimates, there is still a $2.8 billion deficit in 2017-18, with “a path to surplus” of at least 1 per cent of GDP by 2023-24.

    Sick people will pay for medical research while the government opts out. Commuters and rural Australians will pay for Tony’s roads obsession. Consumers will pay for his PPL because when you impose a 1.5% levy on some businesses and then give a 1.5% cut to all businesses YOU DON’T END UP WITH MORE REVENUE.

  10. Kaye Lee

    Francesca,

    I agree with everything you wrote. The title was meant to be sarcastic and the presentation meant to highlight just how irresponsible and inequitable this budget is. I wanted to make sure that everyone hears about the handouts and understands who is paying for them.

  11. john921fraser

    <

    Abbott will have pay freeze for less than 1 year.

    Aussies will pay more …. twice a year … for petrol.

    Aussies will pay a "Co-Contribution" …… every time they go to the doctor.

    Aussies will pay extra every time they get a prescription from their doctor.

    Aussies will lose their Family Tax Benefit B.

    "M.A.D …… mutual assured destruction. ….. the new 3 word slogan.

    Did I mention Abbott will have a pay freeze for less than 1 year ?

  12. Kaye Lee

    An average of more than $6 billion a year is being cut from health and social services programmes — $25.8bn over four years, from dozens of programmes. It goes far beyond what the Commission of Audit recommended, and is one of the biggest reductions in Australian health and welfare spending in history.

    Almost $30bn is being cut from government spending over four years, starting with $1.9bn in 2014-15, of which 88 per cent is coming out of health and social services. The rest comes from education, industry assistance and a huge cut ($7.6bn) to overseas aid.

    And the really remarkable thing is that this great big cut in health and welfare spending does not translate into a big reduction in the deficit, and that’s because most of it goes on paying for the Coalition’s election promises.

    Of the disappointingly small $4.1bn reduction in the deficit for 2014-15, from the $33.9bn estimated in the mid-year fiscal and economic outlook statement in December to the $29.8bn forecast today, $2.3bn, or 56 per cent, comes from cuts to health and welfare. Only 20 per cent comes from the new taxes.

    But this builds over time. In 2016-17, the budget turnaround produced by this budget, compared with last year’s MYEFO, is $7.1bn. All of that comes from health and welfare cuts in that year.

    Unlike the budget repair levy, the cuts are permanent, and will continue to bite as the next election approaches unless future budgets wind them back.

    I count 89 specific cuts to health and welfare transfers in this budget across a number of portfolios, including Treasury and Veteran’s Affairs, as well as Health and Social Services, adding up to $2.3bn in 2014-15 and rising to $9.5bn in 2017-18.

    And they were certainly not flagged during last year’s election campaign, even though it’s clear from the extent and detail of the cuts that the Coalition must have been working on them for some time before the election.

    The spending cuts dwarf the two revenue measures that were comprehensively leaked: the temporary budget repair levy raises just $3.1bn over four years and the return of fuel excise indexation $4bn.

    In fact the levy was probably needed more to give some meaning to the “share the burden” rhetoric than actually to raise much money. The cash is useful, of course, but it really just covers the Direct Action climate policy.

    http://www.businessspectator.com.au/article/2014/5/13/politics/budget-suicidal-heroism

  13. bjkelly1958

    How many high income earners, using clever taxation accountants, reduce their taxable income to zero dollars or damned close to it? MOST of them. The net effect of the deceit tax on them is also zero.

  14. Kaye Lee

    bjkelly,

    The latest tax statistics show 75 ultra-high-earning Australians paid no tax at all in 2011-12. Zero. Zip.

    The fortunate 75 paid no income tax, no Medicare levy and no Medicare surcharge, even though 60 of them had private health insurance.

    The reason? They managed to cut their combined taxable incomes to $82. That’s right, $1.10 each.

    Forty-five of the uber millionaires claimed a total of $64.4 million for the “cost of managing their tax affairs”. That’s a staggering $1.4 million each. (As a point of comparison an entry-level H&R Block consultation costs $49.)

    Read more: http://www.smh.com.au/comment/budget-pain-not-for-millionaires-who-pay-no-tax-20140512-zr9o3.html#ixzz31djrP75y

  15. DanDark

    Hockey and his wife were spotted dancing in his office yesterday
    to the song The best day of my life
    When asked why, he replied “because I hadn’t seen my son for 3 weeks”

    So I rang his office last night after hearing this, and said to woman who answered the phone
    “The best day of my life will be when Hockey drops dead, he is an arrogant tool”
    She said something back and I said ‘ He is a liar and we all know it love”

  16. Kaye Lee

    “The unemployed, the sick, the welfare recipients hit by the budget, they’re not going to be dancing are they?”

    “No Laurie, they’re not,” Hockey conceded.

    “It won’t be the best day of their life.

    “But it is the best day for Australia”

    http://www.news.com.au/finance/economy/treasurer-joe-hockey-caught-dancing-to-best-day-of-my-life-before-delivering-federal-budget/story-fn84fgcm-1226916927109

    Suck on a fat one Joe

    https://pbs.twimg.com/media/BnRkEZZCUAE66AN.jpg:large

  17. Ryeman

    I agree with all comments – what we need is labor, greens and PUP to block it all in the senate, not let bits and pieces through but block it all, force a double dis election or force GG to intervene sack Tony and have another election. Let the people decide!!! Now the government has shown its hand with the budget, commission of audit and IPA puppetry an about face of their election promises and “trust us it will be better under us than labor” rhetoric I guarantee they would not be re-elected. This is a budget for the 1% and above only, not for the majority!

  18. Kaye Lee

    March In May – Sydney
    May 18
    Belmore Park (near Central Station) 1pm

    Guest Speakers

    David Ritter – CEO of Greenpeace Australia Pacific: Environmental policies
    Ken Canning – Murri poet and writer: Indigenous Issues
    Ian Rintoul – Refugee Action Coalition Spokesperson: Refugee Issues
    Kaveh Akbari – Poet, writer and Iranian Refugee: A refugee perspective
    Sally McManus – Secretary of the Australian Services Union in NSW and the ACT: Public service cuts
    Antony Loewenstein – Journalist, best-selling author and film-maker: vulture capitalism and public services.

    March to Victoria Park, Broadway

    https://www.facebook.com/events/763869800290256/?source=3&source_newsfeed_story_type=regular

  19. Kaye Lee

    The NSW Government has major concerns over the Commonwealth’s Budget, with what appears to be ‘cost-shifting’ in health and education services. NSW Treasury estimates the state is being asked to find an extra $1.2 billion over four years in our health budget. NSW Treasurer Andrew Constance acknowledges this is a tough blueprint designed to future-proof Australia, however NSW will now enter into discussions with the Commonwealth to assess the potential impact on service delivery. We are deeply concerned about what this budget means for health and education services. We make no apologies for fighting for the people of NSW when it comes to funding these vital areas, Mr Constance said

  20. Terry2

    There’s a lesson here for all of us: the miners have lobbied and funded advertising campaigns and this has, for them, achieved :

    Roll back of the MRRT:

    Repeal of clean energy legislation including the carbon tax and emissions trading

    A 1.5% reduction in company tax

    Perhaps we ,all of us, need to consider a bit more lobbying and activism to get the right results.

  21. DanDark

    Okay I rang the GG tis morning
    I spoke to a very helpful woman
    She said “we need to contact out local member and let them know of our dissatisfaction in Tony and CO
    Also she said “to contact the GG’s office just as you have done to let him know of our dissatisfaction”
    I said “a lot of people have been blocked from contacting their local member”, Lucy Wick and her stonewalling of people in the community was discussed in the conversation

    She said “if enough people contact their local members and the GG’s office
    the GG cannot dismiss it”
    She also wished us genuine good luck and said,
    “You can do something to remove this fed gov, just follow the instructions I gave you on how”
    I thanked her very much for all her information, and said “I will pass it on”

  22. Dan Rowden

    If March Australia doesn’t manage an even better turnout as a consequence of this budget I’ll be rather surprised. Time for those of who are now realising the mistake they made at the ballot box to begin to fix what they broke.

    Joe Hockey didn’t like Sarah Ferguson’s line of questioning much. Poor schnookums:

    http://www.abc.net.au/7.30/content/2014/s4003968.htm

  23. James Fitzgerald

    $100m for mining exploration? I wonder who is going to buy the product. I’m certain Tim Flannery & Greg Pickhaver indicated, last night on ABC TV, that China was embracing wind-powered energy.

  24. Dan Rowden

    “You can do something to remove this fed gov, just follow the instructions I gave you on how”

    And that instruction was: “Vote for someone else at the next election.”

  25. twistie1

    Here’s how this horror budget will effect my family. We will loose $3000 pa in Family Tax Benefit B, $1200 pa in School Kids Bonus, $600 pa pension supplement, plus $7.00 every time someone goes to the doctor and more when we fill the car. Prescription costs will also increase. We also loose another $252.00 pa in the annual Family Tax Benefit supplement. That will be at least $5,000 pa. So much for sharing the burden!

  26. Stephen Tardrew

    Everything we expected and more. Realized what was coming but a bit flat this morning. All the criticisms and facts disclosed on this site over the months stand in direct contrast to this appalling gift to the corporate-sector. A little bitty 2% tax while maintaining all those tax concessions and transfer of wealth while shafting the poor, unemployed, pensioners, youth, and families. The lying debt and endless negativity is sending us straight into austerity.

    Where are the jobs?

    Well sacking a bunch of people, reducing benefits and absolutely no stimulus except toll roads we do not need magically the economy is going to recover. Well yes of course when pensions, benefits and wages are reduced to old world standards while our wealthy friends make a killing that’s progress. The big chance to bring back wage slavery. Do the job regardless of conditions and remuneration or starve. What kind caring benevolent politicians we have.

    The line that we can’t tax the wealthy as they are the job creators is absolute crap. The Newstart guidelines are a disgusting reflection of a morally corrupt and heartless vision of bludger land in which the victims are the cause of their own suffering so lets beat them up. Morality what the hell is that? Seven dollars for many is the difference between some minimum security and down right family budgetary crisis. Yeah sure it’s not so bad for those who are well off, or at least maintaining some sense of security and stability, but for the rest it is a nightmare. But there must be some sacrificial lambs and you lot are it.

    Listen to all the well reasoned, well it had to be done, and is not so bad, by journalists simply ignoring that it is a cruel and viscous attack upon the underprivileged. The truth is we are all going to contribute but only you bludgers will feel real pain facing food insecurity, homelessness, unemployment, old aged, and impoverishment.

    There is absolutely no justification, of any sort, for this type of cruelty, and cruelty it is, when a bunch of wealthy immoral politicians cause so much pain and heartache to marginalized and low income families.

    For you selfish bastards there is no pain just a farce of second rate actors with pseudo miserable faces while rejoicing your greed and injustice on the inside. You are immoral, greedy, liars with no sense of decency or honesty. Look miserable and serious while delivering the budget but have fun and joke about the plebs while smoking cigars. What kind caring gentlemen we are.

    Your God is a lie and you are complete hypocrites.

  27. Lost2

    The average persons visit to the GP, is not just a slug of $7, if a person visits their doctor, requires a blood test and a prescription, that one visit rounds out to 58.50, add another $7 if you require an xray on top.
    For politicians to say it is just a cup of coffee, it would be if the actual cost was only $7, and that is not counting on the extra fuel costs, and time off wor.k

  28. Keitha Granville

    Blocking supply and forcing a double dissolution is not the answer. What if we don’t win ? And what does that make us ? As bad as the Fraser government who were quite rightly condemned for using an archaic provision of the consititution to throw out an elected government. No, we mainatin the rage, we remember this day until the next election – we don’t allow anyone to be bought off with the pork barrelling which will be inevitable. We remind them constantly of this moment and the excesses enjoyed by the top end of the pile while the bottom ened languishes in poverty (which is our fault apparently). Then, at the proper timke, at an election, we show them the door and we firmly slam it shut.

  29. Murphy

    The inner psychopath within my self finds unspecified medical research slush fund smacks of Heinrich Himmler, whom according to wikipedia was also a conservative roman catholic.

  30. Dan Rowden

    In previous discussions we had all noted that, in part, what we need to defeat this Government is a trigger to ignite the interest of the 400,000 strong 18-24 demographic that couldn’t be arsed voting last time. I think we have that trigger.

  31. Stephen Tardrew

    Too bloody right Dan.

  32. Kaye Lee

    Dan. if this doesn’t get them voting then we are not trying hard enough to get the message through

    The Government is raising the age of eligibility for Newstart from 22 to 25. Previously once people turned 22 they would shift from the lower-paid Youth Allowance to Newstart, giving them an increase from $414 per fortnight to $510.
    • People under 30 who are unemployed will have to wait six months to be eligible for Newstart benefits, and will only be able to claim it for six months before the benefit is cut for another six months. This six-month cycle of getting benefits cut and returned will continue until someone gets a job or turns 30.
    • Job seekers under 30 will also have to do 25 hours per week on a work for the dole scheme, while receiving benefits.
    • However the Government is extending the FEE-HELP scheme to diplomas and other post-graduate studies.
    • Young people are also likely to be faced with higher university costs, with the Government announcing it will uncap university fees. Currently the student contribution to a university degree is capped, however the cap on those contributions will be removed from May 2014.
    • The Government will also charge an interest rate on FEE-HELP loans that “reflects the cost of government borrowings”. Currently loans are indexed each year to reflect inflation, however this will be replaced by the government bond rate equivalent, which is traditionally much higher than inflation.
    • The minimum income threshold for people have to begin repaying their debt will be lowered by 10 per cent of the current threshold.

  33. Stephen Tardrew

    Kaye if this is not enough to turn things around I don’t know what is. Labor again flubs with wishy washy response free from real indignation at the injustice of it all. What the hell are they doing? Handed a moral dilemma on a platter and they choke on some vapid reasoned response.

    I would tear my hear out if it wasn’t so thin.

  34. Stephen Tardrew

    Dan the article is an alternative and more realistic point of view. The following says it all.

    “From an economist’s viewpoint, the general thrust of last night’s federal Budget was entirely justifiable if the nation’s finances are to be put on a sustainable path. There was no way it could be done without tax hikes and without spending cuts.”

    Well these economist are idiots because there is no ethical way that cruelty and impoverishment is justifiable. They and their journalist friends use these broad ranging statements to justify untenable inequality. we all have to give up something you know. I’ll give up my expensive pet food while you give up your safety, security, health, home and security in old age.

    No matter how we have to get it through our thick heads that making the poor and low income workers suffer is just immoral and unjustifiable while so much wealth goes unchallenged. The problem is the whole premise is just a warped justification for wealth accumulation while shoveling the pain down to the bottom. How the hell can any econometric model be satisfactory if the people who are most likely to spend and keep the economy rolling are shafted. What utter lies and double speak we have all been sold and the sad part is many people, counter to their own best interest, have come to believe it.

    Did you notice John Hewson said the governments debt figure was rigged and that the pre-election figures were correct. Surprise surprise!

  35. Kaye Lee

    My favourite part of Dan’s link was

    “But the faux justification and the laughable spin that led to last night’s show – from the confected debt crisis, the feigned shock of a budget shortfall and the untruths about the underlying causes for the deficit – only adds to disenchantment within the electorate about the cynicism that now pervades federal politics.

    Where once were statesmen and orators, we now have inarticulate spin doctors.”

  36. Kaye Lee

    Campbell Newman just said that he was surprised cutting funding to states was not brought up at the COAG meeting the other day. Welcome to our world Campbell – our Federal government are cowardly liars.

  37. Kaye Lee

    You gotta hand it to Rupert, he’s a trier.

    The Daily Telegraph has an interactive budget calculator. The blurb says

    “Calculate exactly how it will hit you with our interactive – we hope you get a pleasant surprise”

    Would you trust it to give you a truthful result?

  38. francescaagosti

    Hello Kaye. Yes, I realised this after posting my comment. Where is the comment ‘edit’ button? My comment requires some editing.

  39. Stephen Tardrew

    As Keating would say we are stuck with a bunch of illiterate and verbally challenged swill.

    Had his limits but I do miss the tongue lashings.

  40. Kaye Lee

    Don’t change a word Francesca. Everything you said needed saying. It was an important post. Please add more as you think of it. I can edit if you make a mistake but you haven’t so far.

  41. Anomander

    Think of all the cheap 457 workers Gina will be able to import to carry her extra bags full of cash.

  42. francescaagosti

    Yes, apologies, Kaye. I realised this after I posted my comment, which has now been edited to more accurately reflect my feelings on the topic. Great article, as always. Thank you for using your wisdom to shed light on the truth.

  43. FairGo

    LibNat-zi Party has just benefitted the Elites at the cost to the Australian people in general … The class gap has widened even further and I suspect it will continue into a chasm as wide as the Grand Canyon … Thank you very much Hockey for showing the Australian public what type of reformists the LibNat-si Party by supporting only the ‘Elitist Class’ benefitting from your sham budget …

  44. john921fraser

    <

    Any sign of the compensation for all these "great big new taxes" ?

    After all the "Carbon Tax" compensated Australians.

  45. Solusnauta

    “Job seekers under 30 will also have to do 25 hours per week on a work for the dole scheme, while receiving benefits.”…….mmmm….maybe..just maybe….the 25 hours/week will be spent on planting trees for direct action. Did they not say they expected a 15,000 workforce to achieve this direct action policy.

  46. Möbius Ecko

    Haven’t got the details yet, using a reader on my phone that only gives a precis of articles, but drilling down into the Government’s figures a financial analyst says the Deceit Tax will only raise half of what the budget forecasts.

    So it’s only half the sting for the wealthy Hockey is saying it is.

  47. Kaye Lee

    PhD student and economics lecturer John Humphreys, the deputy director of the Australian Taxpayers’ Alliance, says his calculations show the levy is likely to raise less than half of the $3.1 billion forecast by Treasury.

    “When you factor in mainstream behavioural responses from evidence around the world, the deficit levy or deficit tax is likely to raise less than half of what they’ve claimed, and potentially nothing at all,” he told ABC News Online.

    Mr Humphreys worked for Treasury in its revenue modelling department around a decade ago, and has based his analysis on economic modelling that factors in the behavioural changes that high income individuals might make in response to an increase in the top tax rate – behavioural changes that he argues Treasury has ignored in its estimates.

    “Rich people often have enough money, they don’t necessarily need any more, and if you tax them too much they might decide to stop working, but that only makes up a small part of the behavioural response,” he argued.

    “When you increase tax, you increase the incentive to tax minimise, to hire an accountant to hide your money, you increase the incentives for some people to cheat and actually defraud the system, and there’s also a lower incentive for people to invest, and there’s an incentive for people, if it [the top tax rate] gets too high to actually leave the country.”

    http://www.abc.net.au/news/2014-05-14/deficit-tax-may-raise-a-lot-less-than-treasury-forecasts-says-a/5452438

  48. Lee

    “In previous discussions we had all noted that, in part, what we need to defeat this Government is a trigger to ignite the interest of the 400,000 strong 18-24 demographic that couldn’t be arsed voting last time. I think we have that trigger.”

    Yes it’s poetic justice for this age group. I’ve encountered several of them since the election who have said they aren’t interested in politics, or didn’t vote, or voted before Abbortt announced his policies. This mammoth kick in the backside will hopefully make them wake up.

  49. jimhaz

    [if this is not enough to turn things around I don’t know what is]

    I have my doubts the budget is bad enough. Depends how many families are hit as hard proportionally as twistie1 is indicating.

    If we had a “personality” as opposition leader, yes it would certainly be enough – but the ALP have none in the ranks at present.

    Personally I think Hockey is purposefully underestimating the positive effects of the expected higher economic growth on the budget bottom line and come election time the current account deficit will be gone, enabling them to offer tax cuts – which the public falls for every damn time.

    Much might depend on what happens to the GST. A lift to 12.5% would carry price inflation anger with it to the next election.

    My gut feeling is that one of the problems presently is that the LNP seems to own the Tradies loyalty (14% of the workforce), partly due to Rudd’s BER program and high levels of immigration lifting their pay significantly (via creating excessive demand over supply). If enough benefit from Abbotts infrastructure spending they may not whine that much. I see them as the main working class suckers of Murdoch, Shock Jock and Tea party libertarian propaganda and I think they have huge impact on community attitudes via their work, pub, club and sporting social mixing.

    The pensioners will be angry. Maybe the LNP will lose enough votes there – but don’t be surprised if in 2 years time there is a reversal of the change to indexing and some exemptions on the Medicare payment for the chronically ill.

    Anyway with Shorten, it is no sure thing.

  50. Kaye Lee

    The sell to tradies is the Coalition removed the cap on self-education expenses. They told the tradies it was for them but it was actually for all those lucky enough to be able to go to overseas conferences in magnificent places and claim it on their tax.

    The other sell is they are now letting tech students rack up HECS debts (or whatever they call them today). Look…here’s 20 grand for nothing. We will of course charge you interest on it so when you do actually get a job we want our profit.

  51. Don Winther

    I believe Abbott only tried to work for about 4 years and was not very good at it so he sleazed his way into politics. Not to bad for a 10 pound tourist that has been able to be educated at a government supported private catholic primary school, a government supported private catholic high school, near free education at Sydney uni, scholarship to Oxford uni and all helped by his father that was trained as a dentist by the Australian Air force and has made a fortune from Medicare. Yes Tony you really understand about free loaders on the government system. Joe how much was your education?
    This is just what I believe and if I am wrong Tony I am truly sorry, you can trust Me I wouldn’t lie to you.
    Kaye Lee may have more details.

  52. Kaye Lee

    Don,

    I was at university with Tony and yes, we got it for free. I was even on a scholarship.

    I wrote about Tony here

  53. Don Winther

    Yes I remember it, It was a great article as your articles always are. Thanks Kaye Lee.

  54. Kayla Flamenco Malaysia

    Most of us know this bludget is a farce, but is being done about? From my observations so far (and please don’t get me wrong here, it is totally based on the reactions I’ve seen and read)
    Women pollies are ROCKIN’! THEY ARE stillFURIOUS, PASSIONATE, FORTHRIGHT, ARTICULATE AND MAKING GOOD COMMONSENSE REMARKS THAT ARE IN DIRECT RESPONSE TO THE ISSUES AT HAND WITHOUT THE BALL-LESS USUAL POLLIE BASHING WE ARE SICK TO DEATH OF! The blokes are still just cock fighting …….. sigh

  55. Terry2

    Interesting that Hockey an Abbott have today started distancing themselves from education (and hospitals) “they’re a state responsibility” says Joe. Yet the budget provides $245 million for a further five years funding of the school chaplaincy program; a very dubious outlay that is again being tested in the High Court as being unconstitutional..

  56. 'george hanson'

    According to another site ,if the INFORMAL VOTE in a federal election exceeds 50*1% , then that election is declared null and void by the AEC .A second election must be called immediately …BUT [ and here’s the great news] NONE of the previous candidates in the failed election can re-contest their seats . All new candidates must be fielded . A completely new parliament . Bring on the D.D.

  57. Möbius Ecko

    First post budget poll, this one from Roy Morgan of both consumers and businesses.

    Huge majorities of Australian Consumers (88%) and Businesses (74%) not happy with Joe Hockey’s first Federal Budget.

  58. Terry2

    george hanson

    You will have to give us some statutory references so that we can check those statements.

Leave a Reply

Your email address will not be published. Required fields are marked *

The maximum upload file size: 2 MB. You can upload: image, audio, video, document, spreadsheet, interactive, text, archive, code, other. Links to YouTube, Facebook, Twitter and other services inserted in the comment text will be automatically embedded. Drop file here

Return to home page
%d bloggers like this: