How to get a budget in surplus

[tubs]

I for one have been wondering how gillard and co will get the budget in surplus in 12/13.

I think I know a couple of tricks they're going to use...

1. Borrow for all the work that needs to be done, moving it off the budget. Swan is trying to get an allowance to increase our debt by an extra $50b (up to $250b) so they seem to be getting ready for it.

Then they just do all the normal work in education, health etc, but call it 'projects' and do it with debt. Same things achieved that used to be on the budget, but now funded with debt to they 'disapper'.

2. Bring as much spending forward this year as possible. They announced this in the carbon tax announcement, so they budget could still be in surplus in 12 months time. Doesn't improve our overall position, but creatively makes the budget next year look better.

Any other ways the government can magically bring about a surplus?

 

[Peter Parker]

Any other ways the government can magically bring about a surplus?

* Wait and hope for higher than forecast economic growth.

1 or 2% more, sustained over a few years will:

increase profits - disproportionately raising company tax collections
increase business activity - increasing stamp duty
increase jobs - meaning more tax from more people - and less on the dole
increase labour force participation - especially those about to retire


* Wait and hope for a bit of inflation

if wages rise this causes bracket creep, so increasing tax take without doing anything

Economic growth disguises a multitude of sins and can make even a financially sloppy governement look competent as their revenue rises without them having to make any tough decisions.

 

[topcropper]

Any other ways the government can magically bring about a surplus?

The easiest way is to wait till the libs get in.


See ya's.

 

[BayView]

Tax the oxygen we breath - it is turned into Carbon Dioxide when we exhale, which we now all know will destroy the Earth....

Call it the....Pre-Carbon (Dioxide) Tax.

Did anyone watch "The Bolt Report" last Sunday, by the way?

Another one would be to charge GST on all online overseas purchases.

 

[Bon]

Mining taxes.

Maybe they should have a bank tax as well since they are making record profits - fair's fair!

 

[willair]

I for one have been wondering how gillard and co will get the budget in surplus in 12/13.

I think I know a couple of tricks they're going to use...

1. Borrow for all the work that needs to be done, moving it off the budget. Swan is trying to get an allowance to increase our debt by an extra $50b (up to $250b) so they seem to be getting ready for it.

Then they just do all the normal work in education, health etc, but call it 'projects' and do it with debt. Same things achieved that used to be on the budget, but now funded with debt to they 'disapper'.

2. Bring as much spending forward this year as possible. They announced this in the carbon tax announcement, so they budget could still be in surplus in 12 months time. Doesn't improve our overall position, but creatively makes the budget next year look better.

Any other ways the government can magically bring about a surplus?

Pure and simple they won't,not in the next 2 years,the only way would be is for one of Miss Gillard back-door ex union mates to do to her as she did to Mr Rudd..

 

[Deltaberry]

- Disband unions
- Reintroduce Workchoices
- Target people rorting Centrelink

Oh wait, it's Labor. Sorry none of these work

 

[Peter_Tersteeg]

- Disband unions
- Reintroduce Workchoices
- Target people rorting Centrelink

Oh wait, it's Labor. Sorry none of these work

Yep, it's labour. It looks like the solution will be to increase taxes on middle and upper class, still not get into surplus, leave it for the next government to worry about.

 

[AlmostBob]

Lobor solution has always been the same,

 while($the_electorate == "cannot learn from past mistakes") :
if($money >0) rort; 
if($money<=0) $election='lost';
if($election='lost') { 
 sleep(60*60*24*365*2.5);
 echo "Look how harshly the LiberalNats are treating the australian";
 echo "its time for a change'"; 
}
endwhile;

 

[evand]

The right wing ignorance on this forum is unbelievable sometimes. is anything based on fact?

Banks dont profit from stuff they dig from the ground that belong to all Australians. That is the basis of the 'mining tax'.

And Marc, dont tell me you're a fan of Bolt, The king of the mindless, right wing bogans?

Mining taxes.

Maybe they should have a bank tax as well since they are making record profits - fair's fair!

 

[buzzlightyear]

The biggest impact on the current Fed budget deficits this FY has been the huge reduction in corporate tax revenue.

Let's not dumb this down to a few glib lines to think its as easy to get the current budget in surplus.

The perception is different because of the way the government has handled and created a number of their policy failings.

 

[lizzie]

In very simple terms ... simplify everything ... 20% GST, flat 30% business and personal tax rate ... amalgamate government departments into more efficient entities (ie, NSW government just amalgamated 4 transports departments that were often at odds with each other into one - hopefully - cohesive team with the reduction of 100 jobs) ... boohoo, pen pushers lose jobs ... they can retrain into mining (haha) or just be absorbed into the new, more efficient economy.

Oh - and spend less than you make

 

[buzzlightyear]

And Marc, dont tell me you're a fan of Bolt, The king of the mindless, right wing bogans?

Evand, it is incredulous to think that we have people who have left wing leanings decrying either bias or misinformation from the Australian media. Dare I say various parts of Fairfax and the ABC have been a breading ground for many left wing politicians or those working as their political appointees

These comments has the same feel about Bob Brown's calls for an enquiry on the NewsCorp media outlets. Using the UK based events as a front to have a go at a news outlet that has been very critical of their policies.

 

[evand]

The Murdoch owned press in Melb & Sydney has had a strong anti Labor bias for years. With Bolt in Melbourne and Piers Ackerman in Sydney leading the bogan right, wing charge.

Listen to the callers on their radio talk shows (and/or newspaper columns) and its almost a carbon copy of this forums' Liberal posters.

Uninformed, alarmist, overly emotional and based on very little fact. But plenty of crazy predictions passed off as fact and scare mongering.

The ABC is a fairly balanced coverage in comparison. But to Liberals it looks biased to the left because its lacking the above attributes. It is generally intelligent, balanced, objective and fair. Its not a bad analogy to the debate on this forum.

Evand, it is incredulous to think that we have people who have left wing leanings decrying either bias or misinformation from the Australian media. Dare I say various parts of Fairfax and the ABC have been a breading ground for many left wing politicians or those working as their political appointees

These comments has the same feel about Bob Brown's calls for an enquiry on the NewsCorp media outlets. Using the UK based events as a front to have a go at a news outlet that has been very critical of their policies.

 

[evand]

And which party is the supporter of corporations in this country?

The biggest impact on the current Fed budget deficits this FY has been the huge reduction in corporate tax revenue.

 

[buzzlightyear]

And which party is the supporter of corporations in this country?

I would hope both.

The substantial growth in corporate taxes over the past decade, has been the reason for reductions in personal income taxes and increased family tax benefits. Let's leave aside for the moment, the the merits of doing so.

Increased tax revenues underpinned by a strong economy allows the government to do the other things the population call for.

 

[evand]

haha...ok, which party is the major supporter of corporations in this country. Usually at the expense of institutions such as health, education, welfare, etc etc.

I would hope both.

 

[buzzlightyear]

The Murdoch owned press in Melb & Sydney has had a strong anti Labor bias for years. With Bolt in Melbourne and Piers Ackerman in Sydney leading the bogan right, wing charge.

Listen to the callers on their radio talk shows (and/or newspaper columns) and its almost a carbon copy of this forums' Liberal posters.

Uninformed, alarmist, overly emotional and based on very little fact. But plenty of crazy predictions passed off as fact and scare mongering.

The ABC is a fairly balanced coverage in comparison. But to Liberals it looks biased to the left because its lacking the above attributes. It is generally intelligent, balanced, objective and fair. Its not a bad analogy to the debate on this forum.

I think you overplay the Bolt's influence in the national discourse. I actually think the prevalence of his views are there because just as much because of people's lack of confidence in the current government. As for his shows (TV & Radio), their ratings aren't that substantial. MTR's ratings are 1-2% of the audience for example. Although his Bolt Report ratings are doing better. He writes in the Herald Sun, and his female equivalent Meranda Devine also expouse the same sorts of views which does give him a platform but counter-intuitively, I do not think material influence.

Maybe its the Sydney media culture that you may hear more than what I do, being in Melbourne.

I would agree that some ABC programs provide far more information and detail around political issues, but the bias is still there.

 

[Aaron_C]

It is healthy to be sceptic about what politicians are trying to shove down our throats. It's part of democracy - not a 'right-wing' bogan push

 

[BayView]

And Marc, dont tell me you're a fan of Bolt, The king of the mindless, right wing bogans?

He is right wing, but was actually employed by the Labor Party some time ago.

Watch his show a few times and see what you think. You will be surprised.

He gets pollies and various players from all parties and all sides on the show and takes no prisoners - especially Ju-liar.

Bogans would be left wing wouldn't they? - anti bosses, anti cops, all for welfare and freebies, paid pub hols and the like; doing less.