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Malcolm’s wrong again

Malcolm Turnbull warns Australians to watch out for “Labor’s big spend”. Yet tax in Australia is approximately 25% of GDP compared with approximately 50% in the Nordic countries.

The Nordics understand that you must invest in resources to reap the rewards. Neglect of services and infrastructure saves money short term – but harms the economy long term. Transport and communications infrastructure add to productivity, and there is the prospect of new industries arising from Labor’s world-class National Broadband Network (NBN).

‘Human Capital’ means more high-wage, high-skill jobs – but requires an investment in Education. An interventionist Industry Policy can get unemployment sustainably down well-below 5% – boosting tax revenue and growth – but also requires resources. Social consumption (via tax) can also provide better value and free up wealth for private consumption elsewhere. Nordic universal health care costs around 9% of their GDP, whereas the US system of (mainly-private) health insurance costs 18% of their GDP for only 40% coverage.

Finally, we are a society, not merely an economy ‘in abstract’. Health, Education, Aged Care, ABC and SBS, Roads, Rail, NBN – are ‘social goods’ which improve our security and quality of life. These things are worth investing in if they make us happier and healthier. If anything Labor’s policies are exceedingly modest; but still far-preferable to Conservative austerity.

 

 

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25 comments

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  1. z

    as matter of fact, Australian corporate tax much lower compared with Nordic countries. take Denmark as example, ‘Handelsblatt’ reported March 1, for the data published by Statistics Denmark, the fourth quarter of 2015, the Danish economy grew by only 0.2%, the annual growth of 1.2 percent, economists worry Dan, weak economic growth or the impact of labor market development. Danish employment has been 12 consecutive quarters of growth, the unemployment rate is currently at its lowest level in six years. But the economic slowdown and employment growth coexistence unsustainable, so economists believe the Danish labor market growth or decline. Some economists said the data or explain problems with the Danish production efficiency, only enterprises to expand production by hiring more staff, rather than to increase investment to improve production efficiency. Some economists have pointed out that the labor market is a prerequisite for growth in private consumption growth, while private consumption is the main driving force in 2015 to promote economic growth in Dan.
    Liberal’s 10 year cut tax for corporate plan will lead economy of Australia far away from domestic consumption driven and lower the standers of living. “jobs and growth“ merely a empty slogans.does this country needs a 10 years plan to cut corporate tax? doubt about it.

  2. z

    as matter of fact, Australian corporate tax much lower compared with Nordic countries. take Denmark as example, ‘Handelsblatt’ reported March 1, for the data published by Statistics Denmark, the fourth quarter of 2015, the Danish economy grew by only 0.2%, the annual growth of 1.2 percent, economists worry Dan, weak economic growth or the impact of labor market development. Danish employment has been 12 consecutive quarters of growth, the unemployment rate is currently at its lowest level in six years. But the economic slowdown and employment growth coexistence unsustainable, so economists believe the Danish labor market growth or decline. Some economists said the data or explain problems with the Danish production efficiency, only enterprises to expand production by hiring more staff, rather than to increase investment to improve production efficiency. Some economists have pointed out that the labor market is a prerequisite for growth in private consumption growth, while private consumption is the main driving force in 2015 to promote economic growth in Dan.
    Liberal’s 10 year cut tax for corporate plan will lead economy of Australia far away from domestic consumption driven and lower the standard of living. “jobs and growth“ merely a empty slogans.does this country needs a 10 years plan to cut corporate tax? we are doubting about it.

  3. Terry2

    Listening to the coalition on their accomplishments, Scott Morrison in particular, this quote from Mark Twain came to mind:

    There are basically two types of people. People who accomplish things, and people who claim to have accomplished things.
    The first group is less crowded.

    Mark Twain

  4. z

    lower the living standard, lower the wages for weekend work, lower public sector spending, lower social security spending, force it compete against Asian neighbor countries, people do not need these.

  5. Shaun Newman

    I’d love to see Australia adopt a Nordic type political system, a much fairer way to do government, as it is we will have to settle for a Labor government.

  6. guest

    Janet Albrechtsen writing in The Australian today discusses ‘aspiration vs entitlement’. She believes that all good conservatives aspire to be like Turnbull who has been successful through his own hard work. Somehow that is not the full story.

    On the other hand Shorten and Labor people indulge in envy and class war. They believe in entitlement, taxing and spending. She says that 40% of the budget is spent on welfare. Somehow that is not the full story either.

    Albrechtsen believes it is private enterprise which creates prosperity. So cutting company taxes will allow companies to invest and grow the company and so also the prosperity of the country.

    Cutting all taxes and welfare of any kind would free up huge amounts of money to be invested into personal, company and country wealth, wouldn’t it? For example, negative gearing would not exist. Pensions would not exist as government payouts.

    I am starting to wonder how things would work out if private enterprise ran everything – absolutely everything. How would private enterprise be paid – and by whom? Income and spending would be slashed. Private enterprise could not survive.

    Then we as nation would have to work out how people could be able to survive, at least with a little bit of financial help, so they could spend in order to support private enterprise. What would be the ‘entitlements’ of the populace and of private enterprise (for private enterprise expects entitlements for themselves as well)? How would that be decided? Only by some kind of class war?

    The false dichotomy Albrechtsen espouses is an explanation far too simple to explain the nature of an economy. It is the kind of way of thinking which sees entitlement only for those who are already entitled. It is an aspiration which makes a god of money and those who have it. That such aspiration depends on the hard work of others, such as workers, does not seem to occur to them. We are to believe that the aspirationals are entitled to rule.

    But we know that the drip-down approach does not work. Why do the Albrechtsens of the world keep on with their class war agenda? We can see what they are up to – and the difference between the Coaliton and Labor is stark.

  7. Jennifer Meyer-Smith

    Well said, Tristan.

    The main difference between Labor and the Librats is that Labor sees Australia as a society first whereas the Librats see Australia as an economy first. The Greens share Labor’s preference with an appreciation and respect for the environment. (That’s what makes the Greens and Labor natural allies for the Alliance).

    Guest: What will happen to Albrechtsen when the Librats lose government by a landslide? She should be pushed off the ABC’s Board of Directors for starters (along with other neoliberal colleagues infesting Aunty).

  8. nurses1968

    Jennifer Meyer-Smith
    There will be NO ALLIANCE

    So both LNP and Labor have come out with a no deal with the Greens policy
    Prime Minister Malcolm Turnbull says there is “absolutely no chance” of the coalition accepting a deal with the Greens to form a minority government.
    However the Liberal Party has not ruled out preferencing the Greens ahead of Labor in marginal Victorian seats
    But Opposition Leader Bill Shorten also moved to head off talk of a new deal and emphasised how determined he was to win enough seats to form government in his own right.
    “He’s dreaming. Labor will fight this election to form its own Government,” he said.
    Labor’s deputy leader Tanya Plibersek said the deal struck with the Greens in 2010 hurt the ALP.
    Now the choice is clear that either LNP or Labor will form Government.The choice is yours

  9. guest

    Jennifer, the likes of Albrechtsen must be very nervous right now. I have seen comments to the effect that not even Murdoch is very ferocious at present because the stable is torn between Abbott and Turnbull. On The Drum there is an attempt to claim that both major parties are riven with dissent, but not very convincing in its take on Labor.

    What is really uplifting is to see how Shorten/Labor are being well supported, and not just in the polls. The electorate is waking up to what Labor is about, compared to the Coalition. Abbott was all thunder and lightning as Opposition Leader but forgot about governing. So, too, with Turnbull, all charm and wealth, but struggling to go beyond slogans.

    It is interesting to see writing about the Left in the UK and Canada and the way the Right is perceived. Liam McLoughlin (“Keep Left: Lessons from the UK and Canada… “) quotes a commentator on the Conservative Party of Canada which was led by Abbott’s buddy, Stephen Harper:

    “…hateful, vindictive, xenophobic, anti-reason, anti-science, anti-knowledge, anti-common sense, anti-democratic, corporatist, small, narrow, cruel, divisive, lying, manipulative, war-mongering, exclusionary…”

    Sound familiar?

  10. keerti

    i really wonder why the two major parties bother making these ridiculous claims.If this election results in a situation where neither major party holds a clear majority they will fall over themselves trying to strike a deal with who ever they can to form a government. I doubt any of them would have Julia’s skill in negotiating successful passage of legislation through the parliament tough.

  11. corvus boreus

    Of course, in the event of a hung parliament, all the lofty hard-lines of ‘NO DEALS!’ currently being flung around will amount to mere wafts of wind, as the two main players (coke and pepsi) bend over and proffer their posteriors to the best bids from amongst the indis and minors.

  12. Florence nee Fedup

    Suspect GG will ask both leaders to put the house to a vote. If one side garners majority of votes, a gvt is form. Will remain as long as they have confidence of the house.

    Alternative not pretty. Another election called which would take country into September with no gvt. 3 or more months.

  13. nurses1968

    I think it is clear that Labor have learnt their lesson
    I agree with
    Florence nee FedupMay 11, 2016 at 4:55 pm

    “Suspect GG will ask both leaders to put the house to a vote. If one side garners majority of votes, a gvt is form. Will remain as long as they have confidence of the house. ”
    That would not be, on Labors part, entering into any formal alliance
    Labor now has made it abundantly clear

    Labor won’t form government with Greens Daniel Andrews 15/11/14
    “No deal will be offered and no deal done”

    Annastacia Palaszczuk
    “Let me make it very clear no,no,no deals”

    S.A. Premier Jay Weatherill
    “No deals with the Greens”

    Tasmanian ALP rank and file
    “no deal to any future power sharing {Greens}”

    The federal Opposition leader Bill Shorten has dismissed any suggestion that Labor will negotiate a deal with the Greens if there is another hung parliament.

    The Greens believe Labor mightn’t have a choice but Mr Shorten says they’re “dreaming”.

  14. Jennifer Meyer-Smith

    nurses1968,

    it’s certainly got you worried. Maybe you realise there are many former-Labor voters out there who are watching Labor intently to see whether they’ll take the liferaft before they go down the slippery slope of neoliberalism just to keep up with their counterparts of the LNP Degenerates.

    Let’s face it nuisances1968, Labor has a poor record on environment in recent times don’t you think. Palaszczuk has signed the death warrant to the Great Barrier Reef. Weatherill is signing the death warrant to SA by encouraging nuclear dumpsites and nuclear energy industry in SA. Tasmanian Labor rank and file are in no position to push anybody away at this point of time. Daniel Andrews in Victoria may yet come back to rue his words, especially as the East-West Link bullshit has not been made to lay down and die.

    I suggest you n1968, stop finding fault with the Greens and welcome the Alliance and tell Bill to wake up while he can get their partnership before the odious LNP snatches an advantage for pragmatic mutual political benefits.

  15. nurses1968

    Jennifer Meyer-Smith
    “it’s certainly got you worried.”
    No, I’m pleased with the decisions of the Labor Leaders and it seems to be what a lot of the general pubic, with whom I deal daily wanted to hear.
    It does not come as any surprise, {your attitude} as your thinly veiled anti Labor comments, {well, not thinly veiled} your anti Labor trolling is apparent

  16. nurses1968

    I’ll go with this prediction on IA made by
    BedfordD biggagal • a day ago

    “My predictions.

    Shorten will gain the confidence of enough cross benchers in the Reps to form Government, if he does not have enough Labor seats, which I consider unlikely, I believe Labor will have a majority of about 7 seats.

    And, because of his ability to build a solid and united team, and maintain it, Shorten will work away at introducing change, needed change, by gaining the support of Australians prior to introducing the change to Parliament, thus ensuring its passage through the legislature. Because he will bring Australians to understand that Labor is making decisions based on what is best for Australia, not what mates providing the party with funds are demanding. Proof of that was Chris Bowen’s answer at the National Press Club today, on why Labor was opposed to a company tax cut now, when in 2010 Labor had been proposing a company tax cut. “That would be the one that the Liberals opposed, wouldn’t it? The reason is that times change, and a cut now is not the right choice for the times.” There is no killer response to that position and at the moment Labor can fall back on that base every time.

    From this base he will go on to become one of Australia’s longest serving Prime Ministers, and Australia will be the better for it. And, Australians will be the better for it. We will be a more decent group, and we will be supporting the less well off in our society, in order to make our country strong.

    Simple really.”

  17. Jennifer Meyer-Smith

    Do not dare call me a troll, you nameless naysayer.

    The “general pubic” (sic) might tell you many things but whether you listen and hear what they say is another thing.

    I’m prepared to give Labor a go, if they deserve it but there are some glaring disparities with what are acceptable policies and what are not. Asylum seekers, Newstart recipients, environment protections, pro-active micro-biz funding to support self-employment.

    But then, YOU don’t need to worry coz you’re a nurse in presumably steady employment. Why bother about the less fortunate than yourself!

  18. Jennifer Meyer-Smith

    That prediction by biggal is reasonable. But talking up Shorten too much before he has shown his worth on working for the most vulnerable people and environment, is giving him credit before he has earnt it. Haven’t you learnt anything nurses?

  19. Athena

    “i really wonder why the two major parties bother making these ridiculous claims.If this election results in a situation where neither major party holds a clear majority they will fall over themselves trying to strike a deal with who ever they can to form a government. ”

    Exactly, keerti. Tony Abbott wasn’t going to deal with those independants and micro-parties either but he was forced to. Both of the major parties are showing how brainless they are to make such ridiculous statements and how immature they are that they are not willing to work with others for the good of the country. Neither is worthy of a vote.

  20. nurses1968

    the comment was by BedfordD
    See, even inn the comment above, you can’t help yourself whingeing on about Labor ,
    I stand by my previous comment

  21. Jennifer Meyer-Smith

    Hear, hear Athena.

  22. Jennifer Meyer-Smith

    🙁 nurses,

    I’m sorry for your patients.

    I don’t call it whingeing, I call it constructive criticism which I’m ready to do with Shorten’s office when they get back to me shortly.

    Do you ever contact his or any other pollie’s office under your own name to make constructive comments and criticisms where you consider warranted. Or are you a gormless, unquestioning follower, who don’t want Labor to perform their best for Aussies and the Environment?

  23. Carol Taylor

    I was somewhat bemused by the response on Q&A, with the inference being that Duncan should think of the future rather than any present “luxury” such as taking his daughters to the pictures – that unlike Labor, that the LNP would “create jobs”. ie that Duncan’s daughters would have a job..so forget about being selfish, Duncan. However, I would like to ask, what sort of job? when their educations will be stunted by lack of resources at their local schools, when if they do manage to reach university standard education (difficult if not impossible for most kids from very low income families), then they will be saddled with debts taking a good portion of their working lives to repay. By what miracle are Duncan’s girls going to obtain these ‘jobs’ in the future?

  24. Jennifer Meyer-Smith

    True, Carol.

    Unless any of the political parties or independents are prepared to answer those glaring and urgent needs, we can expect perpetual under-resourced education and career opportunities for marginalised people.

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