As I said in the post on infrastructure and debt, Peter Martin heaved a sigh of relief that the Coalition Government finally understood that the services, infrastructure and welfare that we depend on to function have to be paid for, by raising revenue if necessary. Laura Tingle goes further. She says the Coalition has reset the debate on the role of government by moving to:
a more central position which embraces, and even advocates, a bigger role for government, both in terms of its fiscal position and its interventions in the economy, whether that be by building, owning and running airports or regulating product and labour markets.
She says that the government is actually seeking to own Labor’s modern signature policies – Gonski, the National Disability Insurance Scheme and Medicare. Continue reading Budget 2017: we live in a Labor world
1. Do we need a new conservative party?
One Nation would tell us we’ve already got one, but Essential Report has now conducted a poll about an Abbott-based party, asking the question:
If a new conservative party was formed and included people like Tony Abbott, how likely would you be to vote for them?
Overall the answer is ‘not very likely’ with ‘Total unlikely’ at 58% and ‘Total likely’ at 23%. However the Lib/Nat preference is evenly split at 41% each way. Continue reading Saturday salon 17/12
Standard & Poor’s looks in the first instance at a government rather than at political parties. I can’t find the statement freely available, but here are articles by Michael Janda at the ABC and by Jacob Greber and Phillip Coorey in the AFR.
Essentially S&P want to see the budget under control. Explicitly:
There is a one-in-three chance that we could lower the rating within the next two years if we believe that parliament is unlikely to legislate savings or revenue measures sufficient for the general government sector budget deficit to narrow materially and to be in a balanced position by the early 2020s.
Continue reading Standard & Poor’s lays it on the line
1. Protect your plastic money
If you haven’t heard about it you will. And if you think it won’t happen in Australia, you’re wrong.
Thieves can use RFID technology to empty your card. Seems they can steal your details with a cheap credit card reader, which they hold near you wallet or purse. It could be on public transport, or standing next to you in a supermarket. Continue reading Saturday salon 21/5
Scott Morrison’s 2016 budget got copious praise from Peter Martin, at least in terms of the processes used.
Not so much from his Fairfax mate, Ross Gittins, who said it looked as though it was pulled together with a checklist, but did next to nothing in terms of economics or reform. It was a political document. Continue reading What ScoMo didn’t tell us
Here’s a thread where you can vent about the budget, should you so desire.
Peter Martin has a handy list of what we already know, which is quite a lot.
The ABC does too.
Ross Gittins tells us what not to believe. He reckons they don’t use the appropriate accounting methods to add up the figures. He also says not to obsess so much about deficits. It is the government’s responsibility to borrow to spend on infrastructure and other good things. Continue reading Budget open thread
Bernard Keane at Crikey has done some fact-checking (paywalled) on Scott Morrison’s the statements on the government’s fiscal policy and has found the Treasurer telling a few porkies. Continue reading Mr Morrison, would you please stop lying?