The Grattan Institute found that providing tax cuts in the never-never while reducing government expenditure from 24.9% of GDP in 2018-19 to 23.6% during the next decade will necessitate cutting existing programs by more than A$40 billion a year in 2029-30. That should have been the story of the week, but somehow it wasn’t.
Last September I charactarised the politics we were getting from the major parties as Kill Bill or any distraction vs a fair go. The scribes in the Oz commenting on the latest Newspoll see Turnbull’s star rising, and the banner headline
Shorten pays for tax debacle
In the 5-8 April poll Turnbull’s satisfaction rating was 32-57 for a net negative -25. He’s been steadily improving and is now 42-48, a mere -6.
The polls were diabolical back then – Turnbull had just chalked up his eighth losing Newspoll in a row. Now that has blown out to 25 and the situation has gotten worse. Back then the TPP vote was 52-48 in favour of Labor, now it is 54-46. Last year the Labor primary vote had nearly overtaken the Coalition, rising from an election deficit of 34.7-42.1 to 37-39. Now Labor leads 37-35.
Phil Coorey in the AFR reckons Turnbull has three wishes, all of which must be fulfilled if he is going to get to Christmas with the Government in good shape – he needs a Yes vote on same-sex marriage, he needs a Clean Energy Target that makes some sense, and he needs his three National Party ministers to be given a ‘get out of jail’ pass by the High Court.
Firstly, he was in full visionary nation-building mode, announcing the feasibility trial for the Snowy Hydro 2.0 pumped storage scheme that had already been announced. Then he called in the electricity retailers again to be wacked around the ears about electricity prices, which is more of the same. Continue reading Kill Bill or any distraction vs a fair go→