The 2017 Federal Govt Budget

[Freo Big Fella]

http://www.abc.net.au/news/2017-05-...d-to-help-build-australias-submarines/8529606
http://www.abc.net.au/news/2017-05-16/wa-unhappy-with-federal-govt-shipbuilding-henderson/8529858

- Give millions of dollars of handouts to SA to get unemployable ex-car workers building the next generation of navy ships.
- Realise said workforce is completely underqualified for the job.
- ?????????
- Profit.

David Johnston's "wouldn't trust them to build a canoe" remark looking more and more bang on by the day.

 

[Pessimistic]

http://www.abc.net.au/news/2017-05-...d-to-help-build-australias-submarines/8529606
http://www.abc.net.au/news/2017-05-16/wa-unhappy-with-federal-govt-shipbuilding-henderson/8529858

- Give millions of dollars of handouts to SA to get unemployable ex-car workers building the next generation of navy ships.
- Realise said workforce is completely underqualified for the job.
- ?????????
- Profit.

David Johnston's "wouldn't trust them to build a canoe" remark looking more and more bang on by the day.

Its a very expensive way to do it and it will probably be built and manned by 'new' australians

In practical terms, it would be cheaper to pay another nation to protect us

 

[GreyCrow]

http://www.abc.net.au/news/2017-05-...d-to-help-build-australias-submarines/8529606
http://www.abc.net.au/news/2017-05-16/wa-unhappy-with-federal-govt-shipbuilding-henderson/8529858

- Give millions of dollars of handouts to SA to get unemployable ex-car workers building the next generation of navy ships.
- Realise said workforce is completely underqualified for the job.
- ?????????
- Profit.

David Johnston's "wouldn't trust them to build a canoe" remark looking more and more bang on by the day.

Agree with the 1st point. Its a sop to South Australians to make us believe anybody can rock up and get a job building boats and subs.

Some may get different work ie forkies, stores etc but the 457s will fill the major part. Would have to research how many engineering placements there have been over the last 5 years

 

[Pessimistic]

We will never be in a conventional war again probably

We will be in economic war over resources. Probably with pirates or terrorists

Protecting oil platforms. Fishing resources. Airports and civil infrastructure

What are they building again ?

 

[Seeds]

Its a very expensive way to do it and it will probably be built and manned by 'new' australians

In practical terms, it would be cheaper to pay another nation to protect us

Protect us from what? Globalism has seen an end to conventional warfare.

 

[Pessimistic]

Protect us from what? Globalism has seen and end to conventional warfare.

Exaccary. Look one post up

People have known this for decades

 

[medusala]

Protect us from what? Globalism has seen and end to conventional warfare.

Thats not correct. Trade in comparative terms was higher pre World War one than in the 80s IIRC based on Poms attachment to Empire, free trade and the gold standard.

 

[medusala]

Turnbull certainly is quite the coward.

http://budget.gov.au/2017-18/content/bp1/download/bp1_bs3.pdf

Increasing revenue by 2% of gdp and doing nothing on spending (actually up a bit next two years as % gdp)

Net debt predicted to fall under 10% next 10 years so i guess one bright spot is the sins of Wayne Swan are slowly being erased. Still someone else being a thick box full of hammers doesnt excuse the utterly useless job Turnbull is doing. Making Joe Hockey look good.

While Tasmanian government is the most inept and corrput Australia has ever seen (and for the last 40 years or more has been worse than anything Sir Joh put together - probably reaching peak corruption under Robin Gray) the state is lost regardless. I love it, I'd move back home like a shot, but nothing can stop its rapid decline to an economy more resembling PNG's than mainland Australia's.

You really think that? Some of the heavy industry stuff under Gray was dodgy but that was in the open and both parties had supported it for ages. Other than the Edmund Rouse bit what else in particular counted?

Lennon was around after i left, i have heard plenty of people say Tas was really rotten under him but i dont know any specifics. I know its OT but can you clarify?

 

[Power Raid]

The spending during the GEC saved a lot of jobs, businesses & family homes. Thats what Guments are for. Getting involved when needed, monitor the economy & health of citizens, otherwise keep out of the way.

So in reverse the future generations can pay off their parents debt with high unemployment and financially locked out of the property market.

Rudd didn't want a recession under labor's watch again despite it being the recession we had to have.

Instead he over stimulated the economy and we saw the currency go sky high. This resulted in the closure of industry and lost returns from our exports.

So we are left with a massive debt, a systematic problem with jobs and a massive wealth redistribution from those too young to vote to the established. Job well done!

 

[Power Raid]

Turnbull certainly is quite the coward.

http://budget.gov.au/2017-18/content/bp1/download/bp1_bs3.pdf

Increasing revenue by 2% of gdp and doing nothing on spending (actually up a bit next two years as % gdp)

Net debt predicted to fall under 10% next 10 years so i guess one bright spot is the sins of Wayne Swan are slowly being erased. Still someone else being a thick box full of hammers doesnt excuse the utterly useless job Turnbull is doing. Making Joe Hockey look good.



You really think that? Some of the heavy industry stuff under Gray was dodgy but that was in the open and both parties had supported it for ages. Other than the Edmund Rouse bit what else in particular counted?

Lennon was around after i left, i have heard plenty of people say Tas was really rotten under him but i dont know any specifics. I know its OT but can you clarify?

Even WA state labor is making tough decisions and sacking loads of government positions.

The Feds have to do the same and they should start with every double up department like education, health and environment. These are all governed by the states and don't need interference from federal politics.

 

[Power Raid]

http://www.abc.net.au/news/2017-05-...d-to-help-build-australias-submarines/8529606
http://www.abc.net.au/news/2017-05-16/wa-unhappy-with-federal-govt-shipbuilding-henderson/8529858

- Give millions of dollars of handouts to SA to get unemployable ex-car workers building the next generation of navy ships.
- Realise said workforce is completely underqualified for the job.
- ?????????
- Profit.

David Johnston's "wouldn't trust them to build a canoe" remark looking more and more bang on by the day.

There will be jobs driving the jiffy food van for the workers though.

I don't understand why we are wasting billions on conventional subs. Horrible things to serve on; hot, dirty, carcinogenic and completely ineffective for our needs.

 

[madmug]

So in reverse the future generations can pay off their parents debt with high unemployment and financially locked out of the property market.

Rudd didn't want a recession under labor's watch again despite it being the recession we had to have.

Instead he over stimulated the economy and we saw the currency go sky high. This resulted in the closure of industry and lost returns from our exports.

So we are left with a massive debt, a systematic problem with jobs and a massive wealth redistribution from those too young to vote to the established. Job well done!

The $ went sky high because of the mining boom. Not gument stimulation of the economy.

 

[Power Raid]

The $ went sky high because of the mining boom. Not gument stimulation of the economy.

The biggest driver of interest rates is the relative difference between interest rates and in this case the US and Oz.

Our RBA couldn't respond like the US as they had to counter Rudd's stimulus.

In Rudd's defence he didn't know our economy didn't need the stimulus he delivered.

We obviously would have been better served as a nation by buying distressed overseas infrastructure assets on the cheap with our high dollar. This would have weakened our currency, saved some of our industry and delivered returns required for the un-financed govt employee debts.

 

[WCE1987]

Turnbull certainly is quite the coward.

http://budget.gov.au/2017-18/content/bp1/download/bp1_bs3.pdf

Yes, but i dont see how he would of got much passed in the current senate state.
IMO a lot of the issues facing states are state caused.

 

[Seeds]

Thats not correct. Trade in comparative terms was higher pre World War one than in the 80s IIRC based on Poms attachment to Empire, free trade and the gold standard.

In what terms was trade higher? Yes trade barriers were low then but costs of trade were astronomically high due to transport costs and there weren't exactly a lot of multinational firms then either except for those that were extracting resources from developing economies.

 

[Linda_Lovelace]

Its a terrible budget. Simple question how does it help to grow the economy?

 

[Power Raid]

Its a terrible budget. Simple question how does it help to grow the economy?

I would have thought the key question was; "how does this budget pay down the debt without killing the economy?"

The budget still hasn't addressed the $19Bs of saving claimed by Labor are wasted in health, it doesn't address double up of departments between state and federal, it hasn't repealed spending in NDIS and just handed it to the states in the form of DSC, it hasn't addressed any of the $30b in lost taxes from religion and charities, etc etc

 

[Linda_Lovelace]

I would have thought the key question was; "how does this budget pay down the debt without killing the economy?"

The budget still hasn't addressed the $19Bs of saving claimed by Labor are wasted in health, it doesn't address double up of departments between state and federal, it hasn't repealed spending in NDIS and just handed it to the states in the form of DSC, it hasn't addressed any of the $30b in lost taxes from religion and charities, etc etc

The first part is easy, cull the public servants, stop giving them pay rises, cut funding to non core areas, tax multi nationals (they hardly employ anyone here) and enter into no more funding commitments that cannot be paid for from existing revenue. Govt needs to live within its means, stop using the credit card and then expect their sugar daddies (the tax payer) to pick up the tab.

 

[Pessimistic]

We have a fake economy anyway

Fueled by people spending their home equity

 

[medusala]

In Rudd's defence he didn't know our economy didn't need the stimulus he delivered.

Rudd had zero idea and a clueless balatron as treasurer who had never worked in a real job. See Ruddbank, pink batts, cheques to dead people etc.

In what terms was trade higher? Yes trade barriers were low then but costs of trade were astronomically high due to transport costs and there weren't exactly a lot of multinational firms then either except for those that were extracting resources from developing economies.

Merchandise trade as % of gdp.

 

[GreyCrow]

Did they include the $165million they lost?

The ATO are going to have a rough time over the next few months.

 

[Benny78]

Any chance any of those blokes are Christian lol? Stealing from thy neighbour isn't infact stealing when the victims (in this case taxpayers) take no personal responsibility to secure their own property.

 

[Power Raid]

Omg

Will report after this meeting but there is a massive issue in this budget regarding the subs

 

[Benny78]

We have a fake economy anyway

Fueled by people spending their home equity

That's why we sell our homes now! To eagerly awaiting avocado millenials who have only become interested in property the last 2 years in getting some houses double every 10yrs free magic carpet ride.

They buy trying to ride the coat tails of people who did the dudiligence in 2012, when the market was much scarier and you actually had risk along with 9% interest rates. So let's sell our Melb/Syd cashwhores and stock up in SA/Tas/Brissie!

 

[Power Raid]

Loads of gems dropped out today and my favourite was the suns contracts and why government and politics should not be involved with projects, infrastructure and procurement.

SA is getting the $85b sub build but $185b has been allocated to WA secretly to remedy the fk ups of SA.

This means the SA economy can't even learn from their mistakes or have a sustainable industry to build from.

Essentially the projects will finish and so to the jobs. Common sense says build them where you can build them and maintain them. Then you have a base industry to build an export industry from.