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The Forum > Article Comments > Brace for rate hike - unless ... > Comments

Brace for rate hike - unless ... : Comments

By Henry Thornton, published 7/8/2007

Henry provides his usual free advice to the board of the RBA who meet today to consider their next rate hike.

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Crocodile,it is a croc of the proverbal to say NSW in particular is in a surplus.None of our taxes are spent on new expressways.Our tolled roads cost an absolute bomb.

We are in serious infrastructure debt.The neglect and mismanagement in NSW is mind boggling.They now have to borrow billions to pay for the lag in infrastructure.At every turn it has been waste and a debacle of management.So don't try do defend these Labor morons since it discredits your own arguments.

From what I hear Tasmania is joke along with NT and Qld is fast going the same way.In total our State Govts will borrow $70 billion for infrastructure and have just blown the GST on wages for the PS.
For every working person in Aust this $7000.00.So add that to your mortage.The Coalition have paid off $96 billion of Labor debt and have a $90 billion surplus.
Posted by Arjay, Thursday, 9 August 2007 1:00:04 AM
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Arjay, oh deary me. I havn't defended anybody. The admiral made the statement that all the of the state governments are running defecits. This is patently untrue as the state by state budget papers demonstrate. You can waffle on as much as you like about the projected spending of 70 billion dollars. It is accross 6 states and 3 territories combined and over 5 years. Big deal. So what if 96 billion has been paid off ( it isn't all labor debt either. A substantial portion was carried over from the fraser years. ) Anyone can sell off assets to pay debt. I can clear my own debt tomorrow. I just won't have a house. I would prefer our states spend money on capital works rather than take the Howard option of wasting billions on useless subsidies like child care rebates and private health handouts.
Posted by crocodile, Thursday, 9 August 2007 6:03:27 PM
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The facts are Croc all the Labor States are in debt.It is just like you letting you house run down for decades and saying you're in surplus since you have a few thousand in the bank when the repairs will cost 100 times that amount.In reality you are in debt.

In NSW we just had 700 taxes and charges go up way above the rate of
inflation.This is also adding to the pressure of interest rates.

Kevin Rudd recently stated that Morris Iemma was a good premier.It would have been better from Rudd's perspective to have said nothing.If he thinks that Morris is a beakon to be emulated then heaven help Aust if Labor gets in Nationally.
Posted by Arjay, Thursday, 9 August 2007 6:24:41 PM
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