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Interest rate pressures: are the states to blame? : Comments
By Fred Argy, published 9/8/2007Mr Howard needs to accept that responsibility for interest rates rests with the Commonwealth - not the states.
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Posted by Johnj, Friday, 10 August 2007 11:15:03 PM
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Mr. Howard has pushed the argument strongly that he is fiscally responsible. At election time in the past the Coalition have argued that they have had their policies costed by Treasury; whereas, the Opposition figures just don't add up.
This year the Coalition have lost the plot; operating without reference to Treasury. The plan in relation to the Murray Darling was not costed by Treasury; ad hoc decisions have been made in relation to aboriginal affairs and the Mersey Hospital. Millions of dollars have been squandered on advertising campaigns pushing half truths. Mr. Howard did begin to blame the States for the latest rise in interest rates, but when the States began to show how they were maintaining surplus budgets Mr. Howard suddenly went quiet. Posted by ant, Saturday, 11 August 2007 8:33:23 AM
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According to the Treasury Corporation of Victoria, State Budget Summary 2006-2007, Victoria (for instance) has an
operating surplus of $317 million, but an increase of general government net debt from $14.5 billion to $20.3 billion by 2010. To say Victoria (for instance) has no debt is like saying that you have no debt if you have $1000 in the bank when you have a mortgage of $250,000. http://72.14.253.104/search?q=cache:hd3_WQh3sO8J:www.tcv.vic.gov.au/attachment/docs/6-2-4%2520Victorian%2520Budget%2520Summary,%25202006-07.pdf+total+victorian+state+government+debt&hl=en&ct=clnk&cd=3&gl=au&client=firefox-a Posted by Admiral von Schneider, Saturday, 11 August 2007 9:14:43 AM
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All our Labor State Govts are in denial.Ex Premiers like Bob Carr signed off gleefully on the GST arrangement with the Federal Govt and then cried foul when they could not contain their own excesses and poor management.
The NSW economy is just chugging along.We just had over 700 taxes and charges go up above the inflation rate.Our infrastructure is not coping and we pay a fortune in tolls just to travel around our city of Sydney.We are being taxed into poverty by this Iemma Govt. No one wants to build or invest here since taxes , charges and red tape make it prohibitive.As a result we have rental shortages and falling property prices in many areas.With increasing interest rates many are still left with debt when they are forced to sell. The Iemma Govt has also restricted the release of land to keep prices high and makes first home buyers pay for future infrastructure with $50,000.00 tax on each property created.They are an absolute joke! Our State Govts have abrogated their responsibilities.They now want to sell off many services so they cannot be held accountable.We really have to question why we need them at all. Kevin Rudd recently said that Morris Iemma is a "good premier". If this is the benchmark by which kevin measures success,then be prepared for more Paul keating "Banana republic" scenarios when they get into power. Posted by Arjay, Sunday, 12 August 2007 9:52:35 AM
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At least when I watch government advertising I can see how my tax money's being spent. Nice to see the Liberals aren't wasting any of my hard-earned money, eh?