45 Wide St West Kempsey
3rd May, 2016
Sydney Morning Herald
RE: Peter Reith and economic management.
Peter Reith (SMH 3/5/16) seeks to continue the myth that Coalition governments are the
exclusive sound economic managers of Australia. Several analysts, such as Stephen
Koukoulas, have exploded this myth. Koukoulas in a study based on measures of Real
GDP growth, growth relative to the US and employment growth, “over the past 43 years
suggests a stronger economy… when Labor is in power than when the Coalition is in
Mr Reith neglects to mention that Malcolm Fraser left a deficit for Bob Hawke to turn
around or that the only reason Howard/ Costello achieved budget surpluses was by
selling off almost $70 billion in assets, including CBA, airports, railways, Telstra and gold
The Rudd/ Gillard governments guided Australia through the GFC, while other
economies such as the US and EU floundered. Yes, they borrowed to do that but the
level of taxation in 2010 was only 20% of GDP compared to 24.2% under Howard and
Mr Reith mentions that Abbott, Hockey and Bilson were sadly on “their way out of
politics” after the 2015 budget. But they were sacked by their own party due to their
ineptitude. Hockey had claimed there would be a surplus in his first year and every year
When the Coalition came to power in September 2013, the level of Net debt was $274
Billion. It is now $424B. An increase of 55% in less than 3 years? And without the devastating GFC that Rudd had to deal with or the infrastructure and initiative provided by Gillard.
Sound economic managers – I don’t think so!!!
The Advocate 12042016
Nationals caught out lying again CoalitionMPvows
Luke Hartsuyker has been caught out saying one thing in Coffs Harbour Into banking and doing another in Canberra.
The Nationals MP for Cowper told the Coffs Harbour Advocate he supported a Royal Commission into Financial Services on 12 April this year.
But only six days later, on the first day of parliament sitting, Mr Hartsuyker joined his Liberal colleagues to vote down that royal commission.
The word of the NSW National Party isn't worth the paper it's written on.
Because no matter what they tell you they believe, the only thing you can be sure of is that they'll back their Liberal mates and toe Mr Turnbull's line.
Articles submitted by Mike Dutton Kempsey Macleay branch
45 Wide Street
West Kempsey NSW 2440
11 April 2016
Elbow Street, Kempsey, 2440
RE: Labor Legacy.
Poor Luke!!! How cruel - hasn't he performed well enough in opening all those school halls, extensions, hospitals and highway bypasses funded by Labor governments. Didn't he rise after 12 years in parliament to the dizzy heights of Asst Minister for UNemployment and allow his own electorate to achieve one of the highest rates? And recently, as Minister for Skills (without having any) hasn't he done as directed by his Tory lords to close down TAFE. technical training and apprenticeships to keep the lower classes ''at mill where they belong?
How ungrateful and disrespectful of his Nationals colleagues to not reward Luke with even a deputy leadership position - and to be beaten by... by,,,a woman!!!!
And now after 14 long years, his LNP colleagues and certainly Malcolm Turnbull, have finally realised what his constituents have known all along - he is absolutely useless. His electorate of Cowper has suffered from his non-representation for 14 years to the point where we are now a point of ridicule on election nights. With one of the highest rates of unemployment (particularly for youth), lowest median wages, lowest levels of education, home ownership, etc, etc in the country it is back to the back bench for Luke.
I cannot think of one major initiative he has achieved for Cowper, apart from a few bike tracks or landscaping schemes.
Surely now he will resign and retire on his parliamentary pension, (recently boosted as a Minister), to his “clog barn” or whatever it is he runs at Coffs Harbour. And surely, with Port Macquarie now included in the Cowper electorate we will see some worthwhile candidates from all parties and independents come forward so that Cowper can finally become a “swinging seat” and get some attention for our many problems.
What a turn-up for the books: a big spending, big taxing Liberal party Business | The Guardian
What a turn-up for the books: a big spending, big taxing Liberal party
Put conventional wisdom aside. Malcolm Turnbull’s party is delivering high government spending
and high taxation and that’s big government, not small
Tuesday 15 December 2015 15.21 AEDT
A core philosophy of Malcolm Turnbull and the Liberal party is big government. This is shown in policies that deliver high government spending and high taxation. As well as a clear inability to get the budget anywhere near surplus because of this disposition to spending, this is one of the highlights from Scott Morrison’s midyear economic and fiscal outlook for 2015-16.
The Coalition parties under Tony Abbott and now Turnbull have been unable to contain government spending. This is to the point where the budget deficits are significantly larger than Labor was scheduling in its last budget in May 2013, the return to surplus is about half a decade later than Labor was estimating and government debt is rising at a rate that would be causing some anxiety for the sovereign credit ratings agencies.
Under Turnbull, government spending will increase by 2% in real terms (which allows for inflation) in 2015-16. In each of the following three years, spending will continue to grow at a rapid clip. As a share of GDP, government spending will be at or above 25.3% in each and every year out to 2018-19, a fact that should once and for all smash the perception that the Liberal party is for “small government” with a lower rate of interference in the functioning of the economy than Labor.
The facts are clear.
The previous Labor government was heavily criticised for its spending programs, yet it maintained spending below 25% of GDP in three of the years it was in office. As a result, government spending averaged just 24.9% of GDP during its full term of office, which is 0.7% ($12bn in today’s dollar terms) less a year on average than under the current government. The Labor government spending included the obvious cash splash that encapsulated the fiscal stimulus implemented during the global financial crisis. Australia dodged recession because of those policies. There is no global recession now.
The big spending embraced by the Turnbull government is fundamentally the reason why the budget surplus has been pushed out a further year. The revenue base, In particular tax collections, is growing nicely with the economy recording a solid if not spectacular rate of economic growth. The unemployment rate has surprised even the optimists on the downside, which means greater tax revenue from the larger workforce
5/9/2016 What a turnup for the books: a big spending, big taxing Liberal party | Business | The Guardian
and lower payments to the unemployed. Indeed, the Myefo confirms that tax revenue will rise to 23.1% of GDP in 2018-19, which is well above any level of tax that Labor has exceeded only twice in the past 65 years. Not Whitlam, nor Keating, nor Rudd, nor Gillard ever taxed this high. The only government to have a higher tax to GDP ratio was John Howard, who exceeded this rate in eight of his
years in office.
The budget update puts paid to the conventional wisdom that the Liberals believe in and deliver small government. The facts prove the exact opposite.
It is also extraordinary, at least relative to the rhetoric, to see government debt rising at a rapid pace. After the 2013 election, the Liberal party inherited net government debt of 10% of GDP. It now has a policy agenda that on its own estimates will see net debt spike to a peacetime record high of 18.5% of GDP in 2017-18. Only during world wars has government debt been higher.
As the 2016 election nears, economic management will no doubt be a dominant issue for voters. The side that is most likely to win the election will be the one that the electorate judges to have the ability to preside over economic policies that deliver decent jobs growth, have well targeted and prudent spending, a bias towards reasonable taxes, yet will deliver the services and support that voters hanker for.
Stephen Koukoulas is a research fellow at the thinktank Per Capita
Australian economy Tax (Australia) Coalition Scott Morrison Malcolm Turnbull More...
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