I need some information and some explanations of what is "good" economic management please.

1. N.S.W. has been missing out, it is said, of $500 million P.A.
of GST tax revenues.
Is this true? and if so, how much has NSW lost so far?
Who is responsible for this, if it is true?
For what reasons?

2. Is it true that this NSW GST money is going to WA and Qld?
If so, How is this "good" economic management? Pumping up those states economies when they are already overheated and need reining in.
Wouldn't it make more sense to TAKE GST revenue from WA and Qld and give it to languishing states to promote economic growth? (N,S.W, Vic, Tas. S.A.)
As it is, interest rates are being pushed up by WA and Qld. to the detriment of all the S. Eastern States.

3. How is it "good" economic management to have 38c a litre excise tax on fuel and 10% GST tax on that? A tax on a tax!
In a coutry like Australia, with capital cities so far apart, is not this a VERY inflationary tax?
Isn't it also unfair to those who have to travel long distances in the county/outback?
Why can't the excise go and the GST stay?
A Truck going from Sydney to Brisbane now pays about $1,400+ in fuel. This cost must be added to everything we buy. It is an inflationary tax. It also forces up interest rates without a really logical reason.

4 How is it that in a so-called "lowest unemployment for decades" environment; we have some suburbs of Cities, youth and racial groups with unemployment from 8-20% (I could be wrong here the statistics are very hard (deliberately?) to read.

5 Why is it that no one talks about UNDER employment? Especially with our young and old.

6.Why is the Future Fund to be managed offshore by a foreign bank?
Are our tax dollars going to be invested supporting foreign companies?
How about some home grown investment? How about a little venture capital?

7 Why is it that education and science has been starved of funds in the last 10 years?
Despite the latest election budget "largess" investment in science and education has gone down. Our technical Colleges are a disgrace. Our Universities are a joke; only attracting Asian students who can not get into a decent OS University.
Future Funds for education, I applaud, but a few buildings is not going to do a lot.
We need to attract and keep the best PEOPLE; the best teachers; the cutting edge minds; not the prettiest buildings.

(In any future, Future Fund could only half the interest/earnings for a year be used? The rest going back to the principal?
As Einstein said "Compound interest is the most powerful force in the universe."
In 100 years time we may not even need tax dollars if we had Future Funds thus structured for health, eduction and welfare.)

8. Talking of the future - Where is the vision for it?
(apart for pollies and public service pensions)

9. I won't even mention the arts- just ask:-
"Why have we have got so many brilliant, world-class actors out of work or serving coffee."
While we are served up cheaply produced rubbish and mindless drivel on TV and American stories in our theaters.
The BBC seems to be able to produce a mass of shows , with continuing DVD rights, royalties etc. What would they have made out of the Goons, for example?
Why can't we sell ABC videos and DVDs at the ABC Shops instead of BBC ones?
We need to tell our own stories.

10 Why do our kids start working life with $20,000-$50,000++ HECKs debits and then try to buy a house? This is insane. They are our Future and as a "baby boomer" I object to all the Universities I built (with my tax $s) now charging like wounded bulls. These kids are our future.
Instead of debt we should be giving thousands of scholarships, bursaries (and rent-assistance in capital cities). Education is fast becoming the preserve of the rich, not the talented.
Why are post graduate degrees so expensive?

11 Infrastructure? "good" economic management?
Write you own questions here:-
E.G.,
How come there is a 130 Kilometer line up of Coal ships off the NSW coast waiting to load at Newcastle?

Michael, you have some very valid points. I will try to answer some of them.

1 & 2: NSW does not get its full cut of GST revenue. This is a Federal Govt decision. It is based on the fact that NSW refused to abolish some of the state taxes that GST was supposed to replace. Other States have cut these taxes (banking taxes, various forms of stamp duty) as required. Obviously some state taxes remain, but the NSW government has been deliberately lazy with respect to cutting the taxes that it was supposed to.

3. I agree with you. I guess the argument could be formed that if this situation was now dropped then it would encourage people to use cars/trucks more. Truck companies do get the Federal excise on diesel use refunded (so long as their trucks meet emission standards). This equates to a discount of 18.5c/L for eligible fuel.

4&5. Agree. Its manipulation of the figures. It would be difficult to measure the full employment equivalent though. Hard the gather the necessary information. There should be more varied reporting of employment figures, with not just an overall presented.

6. Not sure, but I guess you could argue that the money is best invested where it will get the best return. Venture capital is very risky - I would prefer not to see our invested dollars risked on these ventures. The governments already fund funding programs - stick to those.

7. Unfortunately, years of poor economic management left a big hole that was better repaired as quickly as possible. Something had to suffer in the meantime, and education wore a good portion of this. Now thanks to tight management AND the resources boom, there is enough money to start reinvesting in those areas that have had to suffer cuts. We have just seen a federal version of what happened to Vic after Labor.

8. Goodness knows!

Country Gal

"NSW does not get its full cut of GST revenue. This is a Federal Govt decision. It is based on the fact that NSW refused to abolish some of the state taxes that GST was supposed to replace. Other States have cut these taxes (banking taxes, various forms of stamp duty) as required. Obviously some state taxes remain, but the NSW government has been deliberately lazy with respect to cutting the taxes that it was supposed to."

Is totally wrong, NSW gets exactly the amount it should under the formula worked out by the Federal Govt and has abolished all taxes required under the agreement as have all other states.

Costello says that states should abolish more taxes but this was never agreed to and has nothing to do with GST funding.

NSW has received $54.5 billion in GST
QLD has received $37.2 billion in GST

NSW just let the bureaucracy run amok.We spend $7 billion on bureaucrats or $2,300.00 per working person in tax.We have one bureaucrat for every 4 or 5 PS.Michael Coster said 12 months ago we have 50,000 too many bureaurats but buckled to the demands of the PS Union and did nothing.

Now NSW has reached the point of recession.They will have less economic growth,less tax and our state will spiral backwards unless drastic action is taken soon.I don't think Morris Iemma has the intestinal fortitude or the brains to save NSW.