View Full Version : Merged:Budget surplus and New Budget Thingy
I've just heard that there is a budget surplus of 17 billion $!!.
I wonder how the government is going to blow it this time. Personally I think they need to spend it on education and health, or a discount on petrol.
I'm think it will go something more like this......a big chunk will go on defence(which means the war in Iraq) then they will make some token effort towards childcare places and rebates and there will probably be some b.s. about road upgrades.
What do you all think?
Pippi Longstocking
09-05-2006, 06:45
then they will make some token effort towards childcare places and rebates
I suspect you are right. I think that the current government will be willing to spend the money on things that have the potential to bring more wealth back to them and getting mums out working will do just that.
I think that social justice issues will once again be overlooked and the gap between rich and poor will continue to grow. Our health system will be left in crisis. It will still be nigh on impossible to afford a tertiary education. Indigenous Australians will still be left in third world conditions. Our elderly people will be left at home suffering for longer until a place becomes available at a crowded and understaffed old folks home.
People don't matter. Only those that can help themselves have opportunities. We have no compassion, no empathy and none of that famous Aussie spirit of giving each other a hand....Gah, we have become America! :thumbsdown:
MammaMia
09-05-2006, 07:28
Personally, I'm grateful to hear the words "surplus" and "services".
To be much preferred than hearing "deficit" and "cut backs."
And given our nation's level of personal debt, including credit cards, that is something not to be ignored.
That is the extent of my arm chair wisdom and critiquing for today.
I'll leave the rest of the BH financial and political analysts to comment now.;)
Pippi Longstocking
09-05-2006, 07:33
The problem though MammaMia is that the reason we aren't hearing the words "deficit" and "cut backs." is because they are being said in homes like mine - ie. "kids, we have a severe money deficit this week and we are going to have to make cut backs on our eating". ;)
Believe me, there will still be quite a bit of deficits and cutting back, regardless of the budget surplus.
I am nearly sure the government will play the good samaratan and donate an extreamly large amount of money overseas.
Not that I mind that but when there are people in this country like all of us who do find it hard to keep food on the table petrol in our cars home loan payments up to date and need I go on.
unfortunatly our government seem to think we are all surviving just nicely....on not much. I could think of a lot of practical things they could spend the "surplus" on for a start in our area alone the medical system is up to #*#@.
But what the hell the govenment think it is wise to invest the money lets see how long it is before we see news headlines on how the poor little polititions got the country ripped off!
IAdoreYou
09-05-2006, 16:12
I'm a SAHM ( 1st priority here is family ) hearing of tax cuts is what we want here .. with increased interest rates and petrol prices .. with hubbies wage we fall in the bracket of getting up to $30 a week! In our budget thats an xtra $120 a month - minus xtra interest rate $30 - minus xtra petrol a mth $20 .. leaves us to do what we please $70!!! thats quite alot for us ..
Happy Camper Costello :thumbsup:
I believe they should do something about fuel, that would lower the cost of living for all of us in so many ways!
Goosie22
09-05-2006, 21:25
What about paying some off the half-a-trillion dollars in Foriegn Debt, that is a black cloud hanging over our beloved low interest rates.
Debt free :laughing: tell me another one.
rynosmum
09-05-2006, 21:47
I watched the Paul Keating interview on TV last night where he referred to the foreign debt as well. Interestingly enough, he also didn't seem to have any ideas on how to get rid of it.
On the budget though, I'm pleased to see taxcuts for most and less tax for people living off their superannuation. More childcare benefits and a higher salary cutoff before Family Assistance gets affected.
To me, these are beneficial on a day to day basis. How we solve the massive debt issue though Goosie, I'm not sure that anyone knows how to tackle that one...and that's pretty scary stuff.
The cuts to tax on Super are great. The reason behind this is that when we get to retirement age, I am absolutely sure that there will be no pensions - our economy just can't support it, so I'm working on getting my super underway as best I can now.
Ok, does anyone know what the changes are?
I see they were increasing Family tax benifit threshold thingy bobbies, so you can now earn up to $40 000 a year instead of the $33 000, is that correct?
and they now will pay larger family supplement from the third child, but is it increasing, or is it still a lousy $7 or so a fortnight.
I missed the news, kids were chattering, as it was my twins' 5th birthday and we let them enjoy their day :(
"In addition, the Large Family Supplement of $248 a year - currently received by families with four children or more - will be extended to eligible families with three children with effect from July 1."
less than a $1 a day doesn't sound too helpful, but I suppose it's better than nothing. Not sure it's an incentive (to me anyway) to have more kids though.
kiwibird27
09-05-2006, 23:48
Budget sounded great - We are middle income so all smiles 4 us!!! The super tax greats are brillant to - at least when u retire the government says thanks by eliminating tax!!!
On another note.......
Petrol prices............. why is everyone complaining - New Zealand was up to $1.80 a litre - even with the exchange rate thats really high, and petrol in Holland is Euro 1.80, which is close to $3.00 a litre (could be slightly out it's late and I'm grumpy) and all i hear on the news is moaning about petrol prices and the price of living..........It's the cost of living - thats just how it is, we get payrises every year (even minimal ones) so living expenses have to rise eventually.
We live in Sydney and still haven't paid over 1.35 a litre!!!! Thats pretty good really
SORRY EVERYONE AM JUST A BIT GRUMPY TONIGHT!!!
Pippi Longstocking
10-05-2006, 07:53
Oh bollocky poo bum! I forgot to watch the budget last night on sky news like I meant to. I'll be back once I've read it in the paper, I am sure I'll have stuff to whinge about ;) .
How did issues of social justice fair? Any boost to social welfare? *guffaws loudly at own optimism*:laughing: :laughing:
I watched the Paul Keating interview on TV last night where he referred to the foreign debt as well. Interestingly enough, he also didn't seem to have any ideas on how to get rid of it.
On the budget though, I'm pleased to see taxcuts for most and less tax for people living off their superannuation. More childcare benefits and a higher salary cutoff before Family Assistance gets affected.
To me, these are beneficial on a day to day basis. How we solve the massive debt issue though Goosie, I'm not sure that anyone knows how to tackle that one...and that's pretty scary stuff.
I think that Paul Keating suggested having incentives for savings -
Goosie22
10-05-2006, 08:18
The foriegn debt would also be addressed by cutting imports, this would also help our own country as people would have to buy Australian Made.
It would make everyday things cost a bit more and that wouldnt be popular so the government is going to do that are they?
Pippi Longstocking
10-05-2006, 09:17
Rightio, I skimmed through the budget extra in The Australian. 'Tis as I thought - we are well and truly screwed. I have been desperately seeking work because we are sliding backwards at an alarming rate. The good news is I guess I don't have to look for work anymore. What is the point? Yay, there are more childcare places but the money that I could potentially bring in will be lost to the cut in family tax benefit, the rate of tax we'd pay on my income and childcare. :gloomy:
There is no mention of the health crisis. Not a word. Nor did I see any mention of education. Welfare issues that were addressed only affected those that are not exactly struggling. Those already living in extreme poverty are forgotten about. Not taxing super is only going to benefit those that are already in a position to be able to pay super. Too bad for those who are struggling to buy bread and milk, eh.
I think I might cry. What has happened to Australia? When did we become so dog eat dog? When did we stop thinking communally and become so self absorbed? "well I'm alright Jack, I get a tax break"....So what! That tax break will be spent on health and education (things that ought to be free and readily availbale to all) anyway so it is hardly a bonus!
Sooo....anyone wanna buy a pram? A c'dore 7 seater wagon? The clothes off my back? Some small children? I cannot afford to feed my family. That is the reality of it.
The foreign debt problem would also be helped if exporting was encouraged by better communications with the bush and better infrastructure (eg) roads and rail - so producers could get their products known and out into the world.
It's great that families are going to be helped by tax relief, more childcare places and superannuation is going to be simplified and no longer taxed on the way out ....
But there is little to help us deal with some pretty important problems like funding for tertiary education - we have a massive skills shortage; infrastructure like roads; research into sustainable energy and energy effeciency; public housing; public dental health; medicare funding so we get back to bulk billing . And it would have been great if they could have gotten rid of the tax on super when it's deposited and while it's sitting there.
We have a massive surplus of public money thanks to the current commodities boom (which will not last forever), it would have been nice to see it spent in investing in our future rather than the focus being on giving it back to individuals - which is nice, but IMO we get more bang for our buck if we spend it on services that support the community as a whole and planning for rainy days that will come - booms are always followed by corrections and they tend to hurt ordinary people most.
I don't expect the government to fix the petrol price problem - it's an international issue, not a national one. Although I do wish the excise (sp?) was used exclusively for roads rather being put back into general revenue.
I give the government a B- . From what I've heard, it's a better budget than I was expecting - but as usual it is mostly superficial feel good stuff, and it would have been nice to see some attention being paid to some major problems.
Can someone expand on exactly how much better off families will be? I didnt watch the budget last night, but am interested in the partners income threshold being increased to $40,000. Is this info available on the centrelink website?
Petrol prices............. why is everyone complaining - New Zealand was up to $1.80 a litre - even with the exchange rate thats really high, and petrol in Holland is Euro 1.80, which is close to $3.00 a litre (could be slightly out it's late and I'm grumpy) and all i hear on the news is moaning about petrol prices and the price of living..........It's the cost of living - thats just how it is, we get payrises every year (even minimal ones) so living expenses have to rise eventually.
We live in Sydney and still haven't paid over 1.35 a litre!!!! Thats pretty good really
SORRY EVERYONE AM JUST A BIT GRUMPY TONIGHT!!!
Hi KiwiBird,
Hope you're feeling chirpier than last night. Sorry this is probably a bit off topic. I'm not attacking what you said at all, just pointing out why I'm complaining.
High fuel prices annoy me 'cause do to my grocery shopping I have a 300km round trip. I know it's our choice to live here but we are directly contributing to export sales for Australia by being here. We also had some bulk diesel delivered last week for $1.47!
As we're self employed we only get a pay rise when we can afford it. Being in the wool industry our profits are determined by what some one at an auction in Melbourne wants to pay for a bale of wool. In the meantime we still have to pay higher fuel prices and higher cost of living prices. This also means to sell sheep and wool our transport costs will rise. We can not factor this in to a market where we are dictated to.
Sorry again for getting off topic. I hope I didn't come across too whingey. I guess you could say we probably are in the wrong industry! But does this mean all wool and food producers should leave their farms behind?? Then where would we be??
I believe they should do something about fuel, that would lower the cost of living for all of us in so many ways!
yeah, how about not taxing petrol so high?
Yasmeena
10-05-2006, 16:49
Why shouldn't petrol be taxed? Surely you don't think you can destroy the planet and not have to pay for it?:ecomcity: :smiliedance:
Goosie: I find the whole idea of buy australian almost xenophobic. I don't see why I should support an australian business over a kiwi or chinese one. Becoming insular and cut off from the rest of the world may not be such a good idea as you think. :chef:
Anyway, to all of JHo's happy campers, to all who support the privitisation of the family and the americanisation of our country, I give three cheers to elitism :sleeping:
Great budget!!!!!!!!!!
Fairyfloss
10-05-2006, 18:09
I am very unhappy with this budget:crying: , it looks like, I am the lucky one, who keeps missing out on every thing, well except for the tax threshold, changes, but then again I am going on maternity leave next financial year, so again missing out big time, not happy Jan!!!:mad:
Goosie22
10-05-2006, 19:48
Goosie: I find the whole idea of buy australian almost xenophobic. I don't see why I should support an australian business over a kiwi or chinese one. Becoming insular and cut off from the rest of the world may not be such a good idea as you think. :chef:
I dont think we should have to only buy Australian, however at the present time other countries are subsidising their goods and flooding our markets or preventing even blocking our goods being able to be sold in their countries. I think if we have a free trade with no restrictions then fine, some of our industries are not even allowed to put tenders in due to foriegn government restrictions. There are restrictions towards Australia so why not give what we get.
Xenophobic I'm sure you thought it would be a good word to slot in at the time? But it is not a word to use lightly:shame: I find it in extreme bad taste.
mysonroger
10-05-2006, 20:03
Budget sounded great - We are middle income so all smiles 4 us!!! The super tax greats are brillant to - at least when u retire the government says thanks by eliminating tax!!!
On another note.......
Petrol prices............. why is everyone complaining - New Zealand was up to $1.80 a litre - even with the exchange rate thats really high, and petrol in Holland is Euro 1.80, which is close to $3.00 a litre (could be slightly out it's late and I'm grumpy) and all i hear on the news is moaning about petrol prices and the price of living..........It's the cost of living - thats just how it is, we get payrises every year (even minimal ones) so living expenses have to rise eventually.
We live in Sydney and still haven't paid over 1.35 a litre!!!! Thats pretty good really
SORRY EVERYONE AM JUST A BIT GRUMPY TONIGHT!!!
oh ok everyone lets try to be happy about the dramatic rises in petrol. ...everyone smile......yay yay yay :rolleyes:
mysonroger
10-05-2006, 20:10
[QUOTE=******
There is no mention of the health crisis. Not a word. Nor did I see any mention of education. Welfare issues that were addressed only affected those that are not exactly struggling. Those already living in extreme poverty are forgotten about. Not taxing super is only going to benefit those that are already in a position to be able to pay super. Too bad for those who are struggling to buy bread and milk, eh.
.[/QUOTE]
don't they save that stuff for the budgets right prior to the next election campaigns ..........an old political ploy for extra leverage?
FourAngelKisses
10-05-2006, 20:13
Fuel here costs 146.9 for unleaded, 158.9 for diesel and I don't want to know what premium unleaded costs.....scary. It costs me $85 to fill up today and the tank wasn't even empty. But I have to drive everywhere so I had to pay up. :banghead: :banghead: :banghead: :banghead:
mysonroger
10-05-2006, 20:14
,
Xenophobic I'm sure you thought it would be a good word to slot in at the time? But it is not a word to use lightly:shame: I find it in extreme bad taste.
goooosieeeee, that's a bit harsh.....
yasmeena I find your thoughts a little unsettling. :(
I don't believe that people should be forced to buy australian, but, what ever happpened to looking after your own? Given that australia's 'wonderful' budget surplus is due to a false economy, being that alot of our money is coming from uranium and other mineral mining, what happens when it all runs out or we have over supplied other countries and they no longer want it from us? We don't have the exports to bridge the gap when that happens. Thanks to The Evil Pygmys (mr howard) constant naive belief that the u.s. will agree to our free trade requests, he just keeps committing more troops and money to the war in iraq because bush keeps telling him we will get the agreements if he does and we just keep getting shafted. If we don't buy australian then who will? :confused:
And as for your comment on the americanisation of our country (fuming) we struggle enough in establishing our own identity because we are such a young country, but we're getting there and the last thing we need is people trying to turn us into the 53rd state. :banghead: :banghead:
I'm a damn proud aussie and I'd cut off my own hand before I'd pledge allegiance.
IAdoreYou
12-05-2006, 10:51
The cuts to tax on Super are great. The reason behind this is that when we get to retirement age, I am absolutely sure that there will be no pensions - our economy just can't support it, so I'm working on getting my super underway as best I can now.
tax free super is great!!
they say within 10 years the pension will most definately be abolished. ** v.scary **
pestiferous
12-05-2006, 13:51
:eek: you mean people are actually unhappy with the budget ???????
Dont you know, so long as enough $$$ are passed on to ensure the banks get their mortgage money all is well in the land of aus!
*shakes head in sarcastic shame as i run off to the other side of the fence where grass is greener and everybody has broadband*
Yasmeena
12-05-2006, 18:03
JulieK- I agree completely, I find it so disheartening to see the lack of Australian content on telly, and the changes at the ABC are certainly not going to make it any better. I hate the americanisation of our language ( s not z in 'isation' :yes: ) and our politics. I love being an Australian.
I try to support local farmers by buying (mainly organic) produce at farmers markets, and I support several small business in my local area (even though they are sometimes more expensive) but I don't think I should blindly support 'aussie' goods over any other nations. I try to make ethical decisions when purchasing, and I would definitely support small business over a multi-national corporation. One of the reasons why I buy goods from Oxfam, is that I feel I am supporting an ethical organisation.
Back to the budget - Did anyone see Labor's response last night? They are promising to 'rip up' the IR legislation and bring back unfair dismissal laws. They also have a policy of building more childcare centres, and building them near schools so that parents can spend more time with their family rather than driving to seperate care facilities to pick up their children. I'm not sure how this would be facilitated (where would they find the space in some areas?) but it certainly sounds like a great idea to me.
mum2four
12-05-2006, 21:01
Well the whole budget did nothing for me :gloomy: The increase for large families doesn't help me 'cause I already get it and as far as I know they havn't given extra to those with more than 3 children, just lowered the amount of children needed to qualify. The extra $30 per week in tax cuts that DH will get will just cover our $90 per month increase in our mortgage, the super, well not like we have extra money now to top it up anyway and for all I know by the time we are ready to retire they could have added those taxes back in :confused: Why is something that won't affect me for another 30 odd years matter to me when there is no guarantee it will still be around when I turn 60 :eek:
My family will end up with no more money in our pockets or the bank or retirement funds than we have now!
pestiferous
13-05-2006, 11:09
Well the whole budget did nothing for me :gloomy:
As pathetic as the budget is, It has (for the time being) done one
thing for all of us.
As a very basic example: if Business A recieves enough extra to cover
their new mortgage amount there is no need to pass those higher
overheads onto the consumer through increased prices.
If we really want to understand the less obvious aspects we
should calculate the "what if's'.
What if you did not have that $30 pw but still had to cover the recent rate
rise?
What if we all had to increase (or even decrease) our prices just to stay
afloat ? (what if you had to pay more for essentials inturn had to eliminate extra's)
what if prices dropped so far (to hold onto whatever little market was
left) that the majority of small business went under leaving only a few major companies to dictate future costs.
It may add little TO your pocket, but it will hopefully slow down the increase in what leaves it.
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