|
TheSelectFew
|
|
Group: Forum Members
Posts: 30K,
Visits: 0
|
About as credible as circular referencing.
|
|
|
|
|
|
|
Decazz
|
|
Group: Forum Members
Posts: 871,
Visits: 0
|
TrueAnglo wrote:Refugee 'groped blind woman on train'Quote:SYDNEY, Aug 1 AAP - A Bangladeshi refugee who is accused of groping a blind woman's breasts on a Sydney train may have assaulted others, a court has heard. Rubel Sheikh, 25, applied for bail at Parramatta Local Court after he was charged with twice indecently assaulting a young blind woman while she was travelling on a Sydney train last month. Prosecutor Louise Cummings told the court Sheikh was a refugee who had only been in Australia for a month. "It's a strong prosecution case, most of it has been captured by CCTV," Ms Cummings told the court on Thursday. "There's a strong likelihood, if convicted, that he would face a custodial sentence." She described Sheikh as a flight risk and said three other alleged victims had come forward as a result of the widespread media coverage. Ms Cummings said Sheikh's immigration status is being investigated, he arrived to Australia by boat and was on a temporary visa. Sheikh's lawyer Jeff Tunks said he had no family or support network in Australia, spoke little English and had told him he was here on a tourist visa. A public tip-off led to his arrest after police released CCTV footage of the 23-year-old woman, who told police she had been touched on her breast in an lift at Ashfield, in Sydney's inner west, on July 17. She later felt a hand on her breast while she was on a train in the city's south, between Jannali and Sutherland railway stations. Magistrate Les Brennan, who refused bail, said it was an unusual assault. "This young lady has been followed a great distance," he said. "Much of the time unaware what's going on because of the disability." The case will return to Central Local Court on August 6. Read more: http://www.news.com.au/breaking-news/national/man-charged-with-assaulting-blind-woman/story-e6frfku9-1226689220329#ixzz2ahDHykLu What a fuckwit! But whats this got to do with politics?
|
|
|
|
|
notorganic
|
|
Group: Forum Members
Posts: 21K,
Visits: 0
|
lolz, journo's starting to realise that it doesn't take much to rattle Abbott by calling out his lies at his press conferences.
[youtube]AgoYbAcWq9A[/youtube]
|
|
|
|
|
433
|
|
Group: Forum Members
Posts: 6.7K,
Visits: 0
|
Unbelievable people will actually vote for this bloke ](*,)
|
|
|
|
|
macktheknife
|
|
Group: Forum Members
Posts: 16K,
Visits: 0
|
Didn't read the BHP Statement, was drunk and away from the chamber on a vital GFC vote, isn't a 'tech head', walks out of press conferences if anyone asks him a question he doesn't want people to know the answer to, stands there like a retard when asked to explain his 'shit happens' context, can't be trusted on anything he says (in his own words!) and even if it's written down, he still might not be the 'gospel' truth, says we should help the climate with a simple tax then backflips and campaigns against one...
Yep, great Prime Minister.
|
|
|
|
|
afromanGT
|
|
Group: Forum Members
Posts: 77K,
Visits: 0
|
TheSelectFew wrote:About as credible as circular referencing. I still don't see what this is doing in the politics thread. It wouldn't be an issue if the guy wasn't an immigrant. Oh wow, a news article where an immigrant was an asshole. Allow me to direct you to the multitude of articles about actual Australian citizens being assholes.
|
|
|
|
|
sydneycroatia58
|
|
Group: Forum Members
Posts: 40K,
Visits: 0
|
notorganic wrote:lolz, journo's starting to realise that it doesn't take much to rattle Abbott by calling out his lies at his press conferences.
[youtube]AgoYbAcWq9A[/youtube] I quite like at about the 1min30 mark where he says "There is a business case" like 3 or 4 times like he's trying to convince himself :lol:
|
|
|
|
|
lukerobinho
|
|
Group: Forum Members
Posts: 10K,
Visits: 0
|
Lol what took them so long ? THE Rudd government is warning of lower economic growth and higher unemployment this year as it reveals a much deeper budget deficit of $30.1 billion, but has promised to stay on track for a surplus in 2016-17. Quote:Confirming a shortfall in tax collections from the budget forecasts of two months ago, the government has unveiled $17.4 billion in tax and savings measures, including a search for unpaid taxes, lower defence outlays and trims to some welfare payments.
The government aims to blunt the political backlash over the changes by easing the purse strings over the next two years - breaching one of its old rules to cap spending - in the belief that savage cuts would do more harm to economic growth.
The economic update released today includes the new tobacco excise, bank levy and changes to fringe benefits tax.
But it also adds a $1.1bn gain by deferring some defence spending, a $593m saving from slower adoption of payments to seniors and a $457m gain from reduced demand for the disability support pension.
While the May budget forecast a $18bn deficit this financial year, the economic statement reveals a $30.1bn deficit instead.
The deficit in 2014-15 was forecast to be $10.9bn but is now tipped to be $24bn and the slim surplus the following year has been revised to a $4.7bn deficit.
The surplus promised for 2016-17 remains, but has been cut from $6.6bn to $4bn.
Slower growth is one of the factors behind the change as Treasury forecasts growth of 2.5 per cent this year, down from 2.75 per cent in the May budget. It then returns to 3 per cent in later years as forecast in May.
While the budget expected the unemployment rate to rise from 5.5 to 5.75 per cent this year, the economic update forecasts 6.25 per cent unemployment this year and next, before it falls to 5 per cent.
Treasurer Chris Bowen said Labor would take the updated figures to the election and demanded the opposition make its own policy costings public.
“This is our economic plan,” he said. “It has our bottom line in it, it has our costing and our funding proposals.
“The government is doing this in an open and transparent way, and certainly the alternative government should be doing the same.”
Mr Bowen blamed economic volatility, rather than poor forecasting, for the dramatic revenue write-down since the budget, saying the slowing in Australia's China-driven mining boom was being felt across the economy.
He said the government had sought to avoid harsh budget cuts, opting to drop its commitment to balance the budget by 2015-16.
However, he said if the budget took another turn for the worse, he was prepared to cut further.
“We have showed we are prepared to take difficult decisions to get there and we are showing that if necessary, we will take more difficult decisions to get there,” Mr Bowen said.
The government argues that the larger deficits are needed to keep growth on track, because making more aggressive cuts to outlays would damage the economy.
“With the unemployment rate expected to be higher in 2013-14 and 2014-15, the government has exercised restraint in a way that does not put Australia's growth and employment at risk by making drastic cuts in the near term,” the economic statement says.
“The majority of the revenue write-downs have been passed through to the budget bottom line to support growth in the short term. Almost all of the deterioration in the budget balance in 2013-14 and 2014-15 reflects variations in receipts and payments rather than Government decisions.”
The result is to increase net debt as well as the “gross debt” of government bonds and securities on issue, leading Treasury to estimate that Canberra will breach the current $300bn cap on borrowing in December this year.
That would require either a Labor or Coalition government to amend the debt cap legislation as one of the priorities after the election.
Net debt this financial year will reach $184.1bn rather than the $178.1bn forecast in the May budget. Gross debt will rise to $370bn by 2016-17, low by international standards.
Net debt will rise to $217.6bn by 2016-17 after taking into account government assets like the Future Fund.
While the economic statement includes several savings measures on top of the tobacco excise and bank levy announced in recent days, some are based on lower demand for welfare rather than cuts.
The savings on disability support pensions and payments to seniors reflect lower demand for the help rather than cuts to the amounts paid to each individual.
The government will save $827 million over four years by chasing taxpayers with outstanding tax bills.
Following Kevin Rudd's vow to terminate the carbon tax and bring forward a market price on carbon, the economic statement reveals this will cost $3.8bn in lost revenue.
In a decision likely to be strongly welcomed by the higher education sector and professional organisations, the government will defer its decision in the May budget to cap deductions for education expenses at $2000 a year.
The change to self-education expenses angered those who have to pay heavily to keep learning, including doctors, accountants, lawyers, engineers, architects and others.
Deferring it will sacrifice $250m and could give industry groups time to argue the case to drop the change altogether.
Another saving will add about $1bn to the budget bottom line over four years by slowing down the increase in aid outlays in the short term.
But as aid groups press the government to stick to its goal of increasing the assistance as a percentage of the economy, Finance Minister Penny Wong said aid would still reach the same target of $5.7bn in 2017-18, when it will reach 0.5 per cent of gross national income as proposed by the United Nations.
While the government claims to be making “responsible savings” over four years, the details reveal the political imperatives behind the new plan.
A table listing policy decisions since the budget shows that outlays will rise $2bn over the first three years of statement but will then contract by $8.2bn in the following two years.
Labor vowed at the height of the global financial crisis to cap the growth in outlays at 2 per cent per year in real terms but later revised that to a commitment to an average increase of 2 per cent over four years.
The economic statement shows the growth in outlays will be 5.7 per cent this financial year, a crucial time for the election. It will fall later and the average growth per year over the forward estimates will be 1.3 per cent.
One cause of the budget pressure is slower growth in China, the statement says.
“More moderate growth is now expected for China, with authorities' actions to address financial market risks and promote more sustainable growth expected to result in less accommodative credit conditions than assumed at budget,” it says.
The fall in the terms of trade are blamed for the lower tax revenue.
“Since the (May) budget, lower terms of trade and weaker than expected wages growth and hence weaker nominal GDP growth have led to further write downs in tax receipts,” the statement says.
“Lower wages growth has resulted in downward revisions to individuals' income tax receipts.
“Falling commodity prices have resulted in a weakened outlook for company tax and the minerals resource rent tax. Capital gains tax receipts are also expected to be weaker.”
As reported in The Australian today, the economic statement shows that aid outlays to Papua New Guinea will increase by $400m over the next four years to fund programs agreed as part of the border protection agreement last month.
The additional aid money does not change the budget bottom line because aid was already forecast to rise.
Separate to those payments, the cost of offshore processing will rise by $1.3bn over four years to support the PNG Solution on Manus Island.
A tighter efficiency dividend on the public sector is forecast to save $1.8bn over the forward estimates.
http://www.theaustralian.com.au/national-affairs/budget-takes-33bn-revenue-hit/story-fn59niix-1226690156605
|
|
|
|
|
Decazz
|
|
Group: Forum Members
Posts: 871,
Visits: 0
|
afromanGT wrote:TheSelectFew wrote:About as credible as circular referencing. I still don't see what this is doing in the politics thread. It wouldn't be an issue if the guy wasn't an immigrant. Oh wow, a news article where an immigrant was an asshole. Allow me to direct you to the multitude of articles about actual Australian citizens being assholes. Yeh i was hoping it wasnt just posted here to create some sort of racist argument against scary foreign peoples
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
lukerobinho wrote:Lol what took them so long ? THE Rudd government is warning of lower economic growth and higher unemployment this year as it reveals a much deeper budget deficit of $30.1 billion, but has promised to stay on track for a surplus in 2016-17. Quote:Confirming a shortfall in tax collections from the budget forecasts of two months ago, the government has unveiled $17.4 billion in tax and savings measures, including a search for unpaid taxes, lower defence outlays and trims to some welfare payments.
The government aims to blunt the political backlash over the changes by easing the purse strings over the next two years - breaching one of its old rules to cap spending - in the belief that savage cuts would do more harm to economic growth.
The economic update released today includes the new tobacco excise, bank levy and changes to fringe benefits tax.
But it also adds a $1.1bn gain by deferring some defence spending, a $593m saving from slower adoption of payments to seniors and a $457m gain from reduced demand for the disability support pension.
While the May budget forecast a $18bn deficit this financial year, the economic statement reveals a $30.1bn deficit instead.
The deficit in 2014-15 was forecast to be $10.9bn but is now tipped to be $24bn and the slim surplus the following year has been revised to a $4.7bn deficit.
The surplus promised for 2016-17 remains, but has been cut from $6.6bn to $4bn.
Slower growth is one of the factors behind the change as Treasury forecasts growth of 2.5 per cent this year, down from 2.75 per cent in the May budget. It then returns to 3 per cent in later years as forecast in May.
While the budget expected the unemployment rate to rise from 5.5 to 5.75 per cent this year, the economic update forecasts 6.25 per cent unemployment this year and next, before it falls to 5 per cent.
Treasurer Chris Bowen said Labor would take the updated figures to the election and demanded the opposition make its own policy costings public.
“This is our economic plan,” he said. “It has our bottom line in it, it has our costing and our funding proposals.
“The government is doing this in an open and transparent way, and certainly the alternative government should be doing the same.”
Mr Bowen blamed economic volatility, rather than poor forecasting, for the dramatic revenue write-down since the budget, saying the slowing in Australia's China-driven mining boom was being felt across the economy.
He said the government had sought to avoid harsh budget cuts, opting to drop its commitment to balance the budget by 2015-16.
However, he said if the budget took another turn for the worse, he was prepared to cut further.
“We have showed we are prepared to take difficult decisions to get there and we are showing that if necessary, we will take more difficult decisions to get there,” Mr Bowen said.
The government argues that the larger deficits are needed to keep growth on track, because making more aggressive cuts to outlays would damage the economy.
“With the unemployment rate expected to be higher in 2013-14 and 2014-15, the government has exercised restraint in a way that does not put Australia's growth and employment at risk by making drastic cuts in the near term,” the economic statement says.
“The majority of the revenue write-downs have been passed through to the budget bottom line to support growth in the short term. Almost all of the deterioration in the budget balance in 2013-14 and 2014-15 reflects variations in receipts and payments rather than Government decisions.”
The result is to increase net debt as well as the “gross debt” of government bonds and securities on issue, leading Treasury to estimate that Canberra will breach the current $300bn cap on borrowing in December this year.
That would require either a Labor or Coalition government to amend the debt cap legislation as one of the priorities after the election.
Net debt this financial year will reach $184.1bn rather than the $178.1bn forecast in the May budget. Gross debt will rise to $370bn by 2016-17, low by international standards.
Net debt will rise to $217.6bn by 2016-17 after taking into account government assets like the Future Fund.
While the economic statement includes several savings measures on top of the tobacco excise and bank levy announced in recent days, some are based on lower demand for welfare rather than cuts.
The savings on disability support pensions and payments to seniors reflect lower demand for the help rather than cuts to the amounts paid to each individual.
The government will save $827 million over four years by chasing taxpayers with outstanding tax bills.
Following Kevin Rudd's vow to terminate the carbon tax and bring forward a market price on carbon, the economic statement reveals this will cost $3.8bn in lost revenue.
In a decision likely to be strongly welcomed by the higher education sector and professional organisations, the government will defer its decision in the May budget to cap deductions for education expenses at $2000 a year.
The change to self-education expenses angered those who have to pay heavily to keep learning, including doctors, accountants, lawyers, engineers, architects and others.
Deferring it will sacrifice $250m and could give industry groups time to argue the case to drop the change altogether.
Another saving will add about $1bn to the budget bottom line over four years by slowing down the increase in aid outlays in the short term.
But as aid groups press the government to stick to its goal of increasing the assistance as a percentage of the economy, Finance Minister Penny Wong said aid would still reach the same target of $5.7bn in 2017-18, when it will reach 0.5 per cent of gross national income as proposed by the United Nations.
While the government claims to be making “responsible savings” over four years, the details reveal the political imperatives behind the new plan.
A table listing policy decisions since the budget shows that outlays will rise $2bn over the first three years of statement but will then contract by $8.2bn in the following two years.
Labor vowed at the height of the global financial crisis to cap the growth in outlays at 2 per cent per year in real terms but later revised that to a commitment to an average increase of 2 per cent over four years.
The economic statement shows the growth in outlays will be 5.7 per cent this financial year, a crucial time for the election. It will fall later and the average growth per year over the forward estimates will be 1.3 per cent.
One cause of the budget pressure is slower growth in China, the statement says.
“More moderate growth is now expected for China, with authorities' actions to address financial market risks and promote more sustainable growth expected to result in less accommodative credit conditions than assumed at budget,” it says.
The fall in the terms of trade are blamed for the lower tax revenue.
“Since the (May) budget, lower terms of trade and weaker than expected wages growth and hence weaker nominal GDP growth have led to further write downs in tax receipts,” the statement says.
“Lower wages growth has resulted in downward revisions to individuals' income tax receipts.
“Falling commodity prices have resulted in a weakened outlook for company tax and the minerals resource rent tax. Capital gains tax receipts are also expected to be weaker.”
As reported in The Australian today, the economic statement shows that aid outlays to Papua New Guinea will increase by $400m over the next four years to fund programs agreed as part of the border protection agreement last month.
The additional aid money does not change the budget bottom line because aid was already forecast to rise.
Separate to those payments, the cost of offshore processing will rise by $1.3bn over four years to support the PNG Solution on Manus Island.
A tighter efficiency dividend on the public sector is forecast to save $1.8bn over the forward estimates.
http://www.theaustralian.com.au/national-affairs/budget-takes-33bn-revenue-hit/story-fn59niix-1226690156605 what a great result....it's only 30 billion.......only up a little bit from the May budget....oh and look another new tax......oh goody......can we have more of this arse fucking please kevin.....\:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/
|
|
|
|
|
lukerobinho
|
|
Group: Forum Members
Posts: 10K,
Visits: 0
|
batfink wrote:lukerobinho wrote:Lol what took them so long ? THE Rudd government is warning of lower economic growth and higher unemployment this year as it reveals a much deeper budget deficit of $30.1 billion, but has promised to stay on track for a surplus in 2016-17. Quote:Confirming a shortfall in tax collections from the budget forecasts of two months ago, the government has unveiled $17.4 billion in tax and savings measures, including a search for unpaid taxes, lower defence outlays and trims to some welfare payments.
The government aims to blunt the political backlash over the changes by easing the purse strings over the next two years - breaching one of its old rules to cap spending - in the belief that savage cuts would do more harm to economic growth.
The economic update released today includes the new tobacco excise, bank levy and changes to fringe benefits tax.
But it also adds a $1.1bn gain by deferring some defence spending, a $593m saving from slower adoption of payments to seniors and a $457m gain from reduced demand for the disability support pension.
While the May budget forecast a $18bn deficit this financial year, the economic statement reveals a $30.1bn deficit instead.
The deficit in 2014-15 was forecast to be $10.9bn but is now tipped to be $24bn and the slim surplus the following year has been revised to a $4.7bn deficit.
The surplus promised for 2016-17 remains, but has been cut from $6.6bn to $4bn.
Slower growth is one of the factors behind the change as Treasury forecasts growth of 2.5 per cent this year, down from 2.75 per cent in the May budget. It then returns to 3 per cent in later years as forecast in May.
While the budget expected the unemployment rate to rise from 5.5 to 5.75 per cent this year, the economic update forecasts 6.25 per cent unemployment this year and next, before it falls to 5 per cent.
Treasurer Chris Bowen said Labor would take the updated figures to the election and demanded the opposition make its own policy costings public.
“This is our economic plan,” he said. “It has our bottom line in it, it has our costing and our funding proposals.
“The government is doing this in an open and transparent way, and certainly the alternative government should be doing the same.”
Mr Bowen blamed economic volatility, rather than poor forecasting, for the dramatic revenue write-down since the budget, saying the slowing in Australia's China-driven mining boom was being felt across the economy.
He said the government had sought to avoid harsh budget cuts, opting to drop its commitment to balance the budget by 2015-16.
However, he said if the budget took another turn for the worse, he was prepared to cut further.
“We have showed we are prepared to take difficult decisions to get there and we are showing that if necessary, we will take more difficult decisions to get there,” Mr Bowen said.
The government argues that the larger deficits are needed to keep growth on track, because making more aggressive cuts to outlays would damage the economy.
“With the unemployment rate expected to be higher in 2013-14 and 2014-15, the government has exercised restraint in a way that does not put Australia's growth and employment at risk by making drastic cuts in the near term,” the economic statement says.
“The majority of the revenue write-downs have been passed through to the budget bottom line to support growth in the short term. Almost all of the deterioration in the budget balance in 2013-14 and 2014-15 reflects variations in receipts and payments rather than Government decisions.”
The result is to increase net debt as well as the “gross debt” of government bonds and securities on issue, leading Treasury to estimate that Canberra will breach the current $300bn cap on borrowing in December this year.
That would require either a Labor or Coalition government to amend the debt cap legislation as one of the priorities after the election.
Net debt this financial year will reach $184.1bn rather than the $178.1bn forecast in the May budget. Gross debt will rise to $370bn by 2016-17, low by international standards.
Net debt will rise to $217.6bn by 2016-17 after taking into account government assets like the Future Fund.
While the economic statement includes several savings measures on top of the tobacco excise and bank levy announced in recent days, some are based on lower demand for welfare rather than cuts.
The savings on disability support pensions and payments to seniors reflect lower demand for the help rather than cuts to the amounts paid to each individual.
The government will save $827 million over four years by chasing taxpayers with outstanding tax bills.
Following Kevin Rudd's vow to terminate the carbon tax and bring forward a market price on carbon, the economic statement reveals this will cost $3.8bn in lost revenue.
In a decision likely to be strongly welcomed by the higher education sector and professional organisations, the government will defer its decision in the May budget to cap deductions for education expenses at $2000 a year.
The change to self-education expenses angered those who have to pay heavily to keep learning, including doctors, accountants, lawyers, engineers, architects and others.
Deferring it will sacrifice $250m and could give industry groups time to argue the case to drop the change altogether.
Another saving will add about $1bn to the budget bottom line over four years by slowing down the increase in aid outlays in the short term.
But as aid groups press the government to stick to its goal of increasing the assistance as a percentage of the economy, Finance Minister Penny Wong said aid would still reach the same target of $5.7bn in 2017-18, when it will reach 0.5 per cent of gross national income as proposed by the United Nations.
While the government claims to be making “responsible savings” over four years, the details reveal the political imperatives behind the new plan.
A table listing policy decisions since the budget shows that outlays will rise $2bn over the first three years of statement but will then contract by $8.2bn in the following two years.
Labor vowed at the height of the global financial crisis to cap the growth in outlays at 2 per cent per year in real terms but later revised that to a commitment to an average increase of 2 per cent over four years.
The economic statement shows the growth in outlays will be 5.7 per cent this financial year, a crucial time for the election. It will fall later and the average growth per year over the forward estimates will be 1.3 per cent.
One cause of the budget pressure is slower growth in China, the statement says.
“More moderate growth is now expected for China, with authorities' actions to address financial market risks and promote more sustainable growth expected to result in less accommodative credit conditions than assumed at budget,” it says.
The fall in the terms of trade are blamed for the lower tax revenue.
“Since the (May) budget, lower terms of trade and weaker than expected wages growth and hence weaker nominal GDP growth have led to further write downs in tax receipts,” the statement says.
“Lower wages growth has resulted in downward revisions to individuals' income tax receipts.
“Falling commodity prices have resulted in a weakened outlook for company tax and the minerals resource rent tax. Capital gains tax receipts are also expected to be weaker.”
As reported in The Australian today, the economic statement shows that aid outlays to Papua New Guinea will increase by $400m over the next four years to fund programs agreed as part of the border protection agreement last month.
The additional aid money does not change the budget bottom line because aid was already forecast to rise.
Separate to those payments, the cost of offshore processing will rise by $1.3bn over four years to support the PNG Solution on Manus Island.
A tighter efficiency dividend on the public sector is forecast to save $1.8bn over the forward estimates.
http://www.theaustralian.com.au/national-affairs/budget-takes-33bn-revenue-hit/story-fn59niix-1226690156605 what a great result....it's only 30 billion.......only up a little bit from the May budget....oh and look another new tax......oh goody......can we have more of this arse fucking please kevin.....\:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ Oh but it's ok because we're not as bad as Greece yet :lol: The Alp election slogan.
|
|
|
|
|
lukerobinho
|
|
Group: Forum Members
Posts: 10K,
Visits: 0
|
Germany's Unemployment Rate is 5.3%,Switzerland Unemployment is 3.1%. Australia's will be 6.25%. Repeat after me, We are the envy of the World.
|
|
|
|
|
afromanGT
|
|
Group: Forum Members
Posts: 77K,
Visits: 0
|
lukerobinho wrote:Germany's Unemployment Rate is 5.3%,Switzerland Unemployment is 3.1%. Australia's will be 6.25%. Repeat after me, We are the envy of the World. Spain and Greece's is 26.8%, Portugal is 17.8%, Italy is 12.0% the USA is 7.6%, The UK is 7.7%. Repeat after me, We are the envy of the World.
|
|
|
|
|
433
|
|
Group: Forum Members
Posts: 6.7K,
Visits: 0
|
lukerobinho wrote:Germany's Unemployment Rate is 5.3%,Switzerland Unemployment is 3.1%. Australia's will be 6.25%. Repeat after me, We are the envy of the World. We aren't propping up half of Europe so I'd still say we are the envy of the world.
|
|
|
|
|
macktheknife
|
|
Group: Forum Members
Posts: 16K,
Visits: 0
|
What should they do instead?
Batfink complains about taxes, and in the same line is complaining about the budget deficit. What do you want? Low taxes or a surplus?
And what's the alternative to deficit? Austerity? Which as we've seen with Europe, kills economies stone dead.
Edited by macktheknife: 2/8/2013 07:08:32 PM
|
|
|
|
|
thupercoach
|
|
Group: Forum Members
Posts: 8.3K,
Visits: 0
|
macktheknife wrote:What should they do instead?
Batfink complains about taxes, and in the same line is complaining about the budget deficit. What do you want? Low taxes or a surplus?
And what's the alternative to deficit? Austerity? Which as we've seen with Austerity, kills economies stone dead. Only when Labor do it. Couldn't run a chook raffle.
|
|
|
|
|
afromanGT
|
|
Group: Forum Members
Posts: 77K,
Visits: 0
|
macktheknife wrote:What should they do instead?
Batfink complains about taxes, and in the same line is complaining about the budget deficit. What do you want? Low taxes or a surplus? Don't use logic around batfink. He doesn't like it.
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
lukerobinho wrote:batfink wrote:lukerobinho wrote:Lol what took them so long ? THE Rudd government is warning of lower economic growth and higher unemployment this year as it reveals a much deeper budget deficit of $30.1 billion, but has promised to stay on track for a surplus in 2016-17. Quote:Confirming a shortfall in tax collections from the budget forecasts of two months ago, the government has unveiled $17.4 billion in tax and savings measures, including a search for unpaid taxes, lower defence outlays and trims to some welfare payments.
The government aims to blunt the political backlash over the changes by easing the purse strings over the next two years - breaching one of its old rules to cap spending - in the belief that savage cuts would do more harm to economic growth.
The economic update released today includes the new tobacco excise, bank levy and changes to fringe benefits tax.
But it also adds a $1.1bn gain by deferring some defence spending, a $593m saving from slower adoption of payments to seniors and a $457m gain from reduced demand for the disability support pension.
While the May budget forecast a $18bn deficit this financial year, the economic statement reveals a $30.1bn deficit instead.
The deficit in 2014-15 was forecast to be $10.9bn but is now tipped to be $24bn and the slim surplus the following year has been revised to a $4.7bn deficit.
The surplus promised for 2016-17 remains, but has been cut from $6.6bn to $4bn.
Slower growth is one of the factors behind the change as Treasury forecasts growth of 2.5 per cent this year, down from 2.75 per cent in the May budget. It then returns to 3 per cent in later years as forecast in May.
While the budget expected the unemployment rate to rise from 5.5 to 5.75 per cent this year, the economic update forecasts 6.25 per cent unemployment this year and next, before it falls to 5 per cent.
Treasurer Chris Bowen said Labor would take the updated figures to the election and demanded the opposition make its own policy costings public.
“This is our economic plan,” he said. “It has our bottom line in it, it has our costing and our funding proposals.
“The government is doing this in an open and transparent way, and certainly the alternative government should be doing the same.”
Mr Bowen blamed economic volatility, rather than poor forecasting, for the dramatic revenue write-down since the budget, saying the slowing in Australia's China-driven mining boom was being felt across the economy.
He said the government had sought to avoid harsh budget cuts, opting to drop its commitment to balance the budget by 2015-16.
However, he said if the budget took another turn for the worse, he was prepared to cut further.
“We have showed we are prepared to take difficult decisions to get there and we are showing that if necessary, we will take more difficult decisions to get there,” Mr Bowen said.
The government argues that the larger deficits are needed to keep growth on track, because making more aggressive cuts to outlays would damage the economy.
“With the unemployment rate expected to be higher in 2013-14 and 2014-15, the government has exercised restraint in a way that does not put Australia's growth and employment at risk by making drastic cuts in the near term,” the economic statement says.
“The majority of the revenue write-downs have been passed through to the budget bottom line to support growth in the short term. Almost all of the deterioration in the budget balance in 2013-14 and 2014-15 reflects variations in receipts and payments rather than Government decisions.”
The result is to increase net debt as well as the “gross debt” of government bonds and securities on issue, leading Treasury to estimate that Canberra will breach the current $300bn cap on borrowing in December this year.
That would require either a Labor or Coalition government to amend the debt cap legislation as one of the priorities after the election.
Net debt this financial year will reach $184.1bn rather than the $178.1bn forecast in the May budget. Gross debt will rise to $370bn by 2016-17, low by international standards.
Net debt will rise to $217.6bn by 2016-17 after taking into account government assets like the Future Fund.
While the economic statement includes several savings measures on top of the tobacco excise and bank levy announced in recent days, some are based on lower demand for welfare rather than cuts.
The savings on disability support pensions and payments to seniors reflect lower demand for the help rather than cuts to the amounts paid to each individual.
The government will save $827 million over four years by chasing taxpayers with outstanding tax bills.
Following Kevin Rudd's vow to terminate the carbon tax and bring forward a market price on carbon, the economic statement reveals this will cost $3.8bn in lost revenue.
In a decision likely to be strongly welcomed by the higher education sector and professional organisations, the government will defer its decision in the May budget to cap deductions for education expenses at $2000 a year.
The change to self-education expenses angered those who have to pay heavily to keep learning, including doctors, accountants, lawyers, engineers, architects and others.
Deferring it will sacrifice $250m and could give industry groups time to argue the case to drop the change altogether.
Another saving will add about $1bn to the budget bottom line over four years by slowing down the increase in aid outlays in the short term.
But as aid groups press the government to stick to its goal of increasing the assistance as a percentage of the economy, Finance Minister Penny Wong said aid would still reach the same target of $5.7bn in 2017-18, when it will reach 0.5 per cent of gross national income as proposed by the United Nations.
While the government claims to be making “responsible savings” over four years, the details reveal the political imperatives behind the new plan.
A table listing policy decisions since the budget shows that outlays will rise $2bn over the first three years of statement but will then contract by $8.2bn in the following two years.
Labor vowed at the height of the global financial crisis to cap the growth in outlays at 2 per cent per year in real terms but later revised that to a commitment to an average increase of 2 per cent over four years.
The economic statement shows the growth in outlays will be 5.7 per cent this financial year, a crucial time for the election. It will fall later and the average growth per year over the forward estimates will be 1.3 per cent.
One cause of the budget pressure is slower growth in China, the statement says.
“More moderate growth is now expected for China, with authorities' actions to address financial market risks and promote more sustainable growth expected to result in less accommodative credit conditions than assumed at budget,” it says.
The fall in the terms of trade are blamed for the lower tax revenue.
“Since the (May) budget, lower terms of trade and weaker than expected wages growth and hence weaker nominal GDP growth have led to further write downs in tax receipts,” the statement says.
“Lower wages growth has resulted in downward revisions to individuals' income tax receipts.
“Falling commodity prices have resulted in a weakened outlook for company tax and the minerals resource rent tax. Capital gains tax receipts are also expected to be weaker.”
As reported in The Australian today, the economic statement shows that aid outlays to Papua New Guinea will increase by $400m over the next four years to fund programs agreed as part of the border protection agreement last month.
The additional aid money does not change the budget bottom line because aid was already forecast to rise.
Separate to those payments, the cost of offshore processing will rise by $1.3bn over four years to support the PNG Solution on Manus Island.
A tighter efficiency dividend on the public sector is forecast to save $1.8bn over the forward estimates.
http://www.theaustralian.com.au/national-affairs/budget-takes-33bn-revenue-hit/story-fn59niix-1226690156605 what a great result....it's only 30 billion.......only up a little bit from the May budget....oh and look another new tax......oh goody......can we have more of this arse fucking please kevin.....\:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ \:d/ Oh but it's ok because we're not as bad as Greece yet :lol: The Alp election slogan. that's right lets accept an apathetic attitude...aspire to mediocrity and just accept average.......
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
afromanGT wrote:lukerobinho wrote:Germany's Unemployment Rate is 5.3%,Switzerland Unemployment is 3.1%. Australia's will be 6.25%. Repeat after me, We are the envy of the World. Spain and Greece's is 26.8%, Portugal is 17.8%, Italy is 12.0% the USA is 7.6%, The UK is 7.7%. Repeat after me, We are the envy of the World. it's not accurate to compare economy against economy.......how they calculate unemployment is way different to how we do...we have a plethora of natural resources to rely upon........and we are way under our true potential...... If our economy is so good why do we have to keep cutting interest rates when there is absolutely no inflation pressures??? there is a balance....and we have tipped over from healthy interest rate cuts to valueless interest rate cuts...as now the $$$$ you save are just about worthless...... the only place we are the envy of the world is our welfare state so we are attracting Asylum seekers in huge numbers because of the free ride available and as long as you vote these donkeys in it's all good.........
|
|
|
|
|
afromanGT
|
|
Group: Forum Members
Posts: 77K,
Visits: 0
|
You do realise that unemployment isn't the only indicator of the strength of an economy.
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
macktheknife wrote:What should they do instead?
Batfink complains about taxes, and in the same line is complaining about the budget deficit. What do you want? Low taxes or a surplus?
And what's the alternative to deficit? Austerity? Which as we've seen with Europe, kills economies stone dead.
Edited by macktheknife: 2/8/2013 07:08:32 PM LOL.....](*,) ](*,) ](*,) ](*,) ](*,) ](*,) ](*,) LOL you really have to be kidding....LOL...:-" :-" surely you can't be serious....... firstly...there has been a 30% wages explosion under this government, teamed together with a compliance overload, a huge increase in public sector jobs of over 40,000 positions, a shift in what is classified unemployed ( a mere 3 hours a week...!!!!), massive waste and incompetence.....a mining tax that's scared off investors and shelved billions in potential projects, a carbon tax that has raised the cost of living, instead of bragging about low interest rates let inflation run off a little and get the wheels turning and get some traction before placing all the pressure on the reserve bank to sort out the Governments lack of vision and long term policy agenda.....it's been 5 years of shoot from the hip....small business in Australia is on it's knees, these small businesses are the backbone of this country...employing by far the most amount of people...go down to your local shopping centre and check out how many shops are empty....even westfields who are the biggest retail leasers in Australia have blown out for the first time in history to a 10% non occupancy rate..... no mention in here about the 0.05% tax on savings.....LOL a tax repealed by John Howard..... do some more home work and check how many taxes this government has reintroduced.......100's of them.....aided and abetted by the greens.......cash grabs...... go on all of you dead heads ...go and do some homework...go and look at how many education minister there have been in the last 5 years, look at every portfolio and do the same...the numbers are staggering...then you can see why they can't get any throughput...because there is no consistency, no consistency on policy agenda,no consistency on staff or support, no consistency on direction or delivery of promises...FFS sake we have had 3 prime ministers in as many years with this circus that you all support and defend..... and now out of the filth of Labors corruption in NSW watch the new player Sam Destyari....LOL oh yeah the envy of the world......you poor deluded fools.....:-" :-" :-" :-" :-"
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
afromanGT wrote:You do realise that unemployment isn't the only indicator of the strength of an economy. sorry we don't have a strong economy..... indicators run anywhere from 3 tp 6 months behind whats actually happening.........we are heading toward a recession again......wonder how this Government will hide it this time....last time they borrowed and spent fuckloads just to avoid a technical recession and have failed to go one and fix the problem...now the whells have turned and we are right back where we started and what have we to shoe for it?????????
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
afromanGT wrote:macktheknife wrote:What should they do instead?
Batfink complains about taxes, and in the same line is complaining about the budget deficit. What do you want? Low taxes or a surplus? Don't use logic around batfink. He doesn't like it. sorry Afro you been playing to much pink oboe and pulling cones to talk to me about logic..... you are the one unhappy with your work situation and your pay and so many other things but you seem to be able to spend hours on here discrediting me.....now there is true logic.......LOL.... Edited by batfink: 2/8/2013 10:03:21 PM
|
|
|
|
|
afromanGT
|
|
Group: Forum Members
Posts: 77K,
Visits: 0
|
This is in your professional opinion as a financial advisor and investment banker, right?
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
afromanGT wrote:This is in your professional opinion as a financial advisor and investment banker, right? sorry who is it you are addressing???
|
|
|
|
|
afromanGT
|
|
Group: Forum Members
Posts: 77K,
Visits: 0
|
batfink wrote:afromanGT wrote:This is in your professional opinion as a financial advisor and investment banker, right? sorry who is it you are addressing??? There's only one person in here pretending like he knows more about the Australian Economy than everyone else put together.
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
afromanGT wrote:batfink wrote:afromanGT wrote:This is in your professional opinion as a financial advisor and investment banker, right? sorry who is it you are addressing??? There's only one person in here pretending like he knows more about the Australian Economy than everyone else put together. well mate for a bartender i thought you were a bit ambitious myself...but it's far from me to tell you not to have an opinion.....
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
afromanGT wrote:This is in your professional opinion as a financial advisor and investment banker, right? and what are you telling me...only financial advisors and investment bankers are qualified to comment on the economy???????? last time i checked these were the guys in America that started the GFC???????? Edited by batfink: 2/8/2013 10:19:54 PM
|
|
|
|
|
afromanGT
|
|
Group: Forum Members
Posts: 77K,
Visits: 0
|
batfink wrote:afromanGT wrote:This is in your professional opinion as a financial advisor and investment banker, right? and what are you telling me...only financial advisors and investment bankers are qualified to comment on the economy???????? last time i checked these were the guys in America that started the GFC???????? If you think it was american financial advisors and investment bankers that caused the GFC then you've just voided any and all rights you have to talk about economics. But obviously the crap you spout makes you qualified to tell everyone else in this thread that they're wrong despite all the evidence to the contrary.
|
|
|
|
|
batfink
|
|
Group: Forum Members
Posts: 9.9K,
Visits: 0
|
afromanGT wrote:batfink wrote:afromanGT wrote:This is in your professional opinion as a financial advisor and investment banker, right? and what are you telling me...only financial advisors and investment bankers are qualified to comment on the economy???????? last time i checked these were the guys in America that started the GFC???????? If you think it was american financial advisors and investment bankers that caused the GFC then you've just voided any and all rights you have to talk about economics. But obviously the crap you spout makes you qualified to tell everyone else in this thread that they're wrong despite all the evidence to the contrary. lol...so what are you saying that the largest economy in the world who hasn't paid trillion and trillions of $$$$ of outstanding loans and over committed in hedging funds, and lent on mortgages to the extent of 120% of the value of the asset then called in loans from other countries to avoid defaulting themselves has in no way effected the global economy????????
|
|
|
|