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The Failing Australian Economy
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Posted by Belly, Wednesday, 4 December 2019 2:37:24 PM
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Paul,
With virtually the highest growth rate and lowest unemployment rate in the OECD (bar the US), with the housing market bouncing back, a budget surplus on the cards, a trade surplus, the coalition's star is shining bright in spite of the attempts by left whingers to rubbish it. Posted by Shadow Minister, Thursday, 5 December 2019 6:54:45 AM
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Dear Shadow Minister,
Oh come on, we both know a dozen meetings a year of any board is not what runs an organisation. Paul Costello as CEO not Peter as chair is where the kudos is directed by most respectable economists. Peter Costello was an average treasurer at best who rode the Chinese boom. Next you write; “Secondly, while the tax rebate reduced the tax receipts p.a. by roughly $10bn, treasury has modelled that the additional tax revenue generated will be > $7bn p.a. over the long term. Compare this to the $9bn cash splash by Whine Swan according to the auditor general was overwhelmingly spent on imported white goods providing a very short term boost to retailers with little to no long term improvement in GDP or employment.” Rubbish. “From early April, anyone earning $80,000 or less will be paid the full $950; people earning between $80,000 and $90,000 will get $650; and those earning between $90,000 and $100,000 will receive $300. Families will benefit, too. An additional $950 will be paid to an estimated 1.5 million single-income families where the main breadwinner earns up to $150,000. Low- and middle-income families will also receive $950 for each child aged between four and 18 to help with education costs.” http://www.smh.com.au/national/rudds-stimulus-package-what-will-you-get-20090204-gdtc9a.html Scomo directed his largess at those earning over $48,000 and it went into paying off mortgages not on spending in the economy. It has cost billions and essentially failed. Posted by SteeleRedux, Thursday, 5 December 2019 12:51:59 PM
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The man has turned out to be a smugmug and it shows
Next year? we and the world will be lucky if Trumps wars on trade does not harm us all , plus record low wages approaching record house prices?
Record personal debt with shrinking spending?
Credit card spending at Christmas can only make it worse