Peter Costello got it right on The 7.30 Report Tonight! When the Government is in so much debt now is not the time to bring in new spending such as NDIS or the Gonski . Already Julia has announced $4billion for the Pacific Highway and Tony has announced some $500 million for roads in SA. Does it really matter who gets in to get us back in the black..We have nothing much left to sell. Telstra sold. Qantas sold along with the airports. Commonwealth Bank sold. There is no silverware left to sell or is there? Gold sold as well for $250 an oz. Maybe the government should bring the NBN into the cities first so as to generate income sooner! The election promises have yet to start flowing yet. A budget black hole wont stop them..Vote for me. Would anyone vote for a party that doesn't hand out goodies? Maybe Clive Palmer and his new party might surprise a few of the red and blue parties. It seems like Qld is about to sell the QIC. What A MISTAKE THAT WOULD BE! Qld would then join the rest with an unfunded public service super scheme. At least Peter Costello locked up $60 billion for future Federal Public servant payouts. Why is it that governments have to buy votes.. If Australia Doesn't watch itself, we will finish up in dire financial like so many countries that live beyond their means. Qld and WA will be the first states to feel the pinch if the Panda gets sick. Anyway that how I feel. Lets slow down with our spending and maybe Australia will be in a better position if GFC 2 comes. Regards Errol 43
When Tony Abbott went "If I get elected I'll repeal the carbon tax" I went ...then in the same breath he goes "but i'll keep providing the compensation to carbon tax victims" I went
You've never sold anything in a bear market because you needed the capital to reinvest in something in a bull market?
:lol: :lol: :lol: Let me pick myself up from the floor. As if a story in the Sydney Leftist Herald written from an IMF document won't be hilarious.
Someone put us into 300 billion dollars worth of debt with nothing to show for it. It wasn't Costello. Who are you apologising for?
There are irreversible tax breaks and family payments in legislation that subsequent governments have to honour the full impact of these on budget are only coming to fruition now.
Interesting. I just spent the day at a Microsoft conference. A lot of IT guys I spoke with mentioned the NBN will not be delivered into some major industrial areas. It seems they're more interested in connecting residential farms in the middle of nowhere.
But which one was a "core promise" and which one was a "non-core promise". Costello? ...pfft. But can't we have the Abbott and Costello show? Abbott as PM and Costello as GG? We could all just laugh and laugh.
That article is basically wrong. As Henry Ergas said the day after: If interested, a more detailed look into the IMF methodology is HERE.
Have you got a source for that? Last year he was saying the compensation would basically go at the same time as it was unnecessary but I haven't heard recent updates.
costello is a complete joke someone please tell me to whom did he sell 2/3 rds of our gold to in 1 day? was costello just purely an incompetent idiot to sell at $300 an ounce or was it a dodgy deal that he signed off on where he received a lot of money under the table??? a 7-12 billion dollar loss/ripoff (dependent on when it could have been sold) he sold our gold for 2 billion stating " gold no longer plays a significant role in the international financial system" (peter costello - 1997)
But he's right. Without a gold standard, the international financial system doesn't 'need' gold. Financial actors just create currency through reserve banks and fractional reserve lending. We all disagree and stack with the possibility in the back of our mind. Costello has no such scruples.
Whats also interesting is if you look at the NBN rollout map in Sydney all the electoral areas that are safe labour seats have been hooked up first. See for yourself http://www.nbnco.com.au/mobile/when-do-i-get-it/rollout-map.html#map The few Areas set to have it rolled out shortly in Sydney include Auburn, Blacktown, Liverpool and Lidcombe. These are historically some of the safest labor seats in the country, both federal and state. I actually miss out on NBN due to my suburb being in the boundaries of a rather safe Federal Liberal seat. Whilst the suburb next door is a historical safe Labor seat which has never voted Liberal and will receive NBN by end of this year...
