Critique of Historical Budget Surpluses and Current Economic Policies

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Critique of Historical Budget Surpluses and Current Economic Policies
Australian Politics, Budget Surplus, Gas Export Tax

The article argues that the budget surpluses under the Howard and Costello governments were achieved through underinvestment in infrastructure and healthcare, while tax concessions benefited wealthy sectors. It contrasts this with current political reluctance to tax gas export windfalls for public relief despite significant spending on initiatives like AUKUS.

”, October 3) that the Howard/Costello regime was a “doer” government. It’s easy to achieve surpluses when you don’t spend on infrastructure and allow the health system and other services to deteriorate.

Governments since the fall of the Howard government have been scrambling and borrowing to deliver on the things that weren’t done during the wasted years 1996 to 2007. Not to mention trying to unravel the tax concessions and other subsidies that Howard and Costello lavished on wealthier sectors of our nation. Before Peter Hartcher gets too misty-eyed over Peter Costello, remember his multiple budget surpluses didn’t create a massive Norway-style sovereign wealth fund.

Instead, the surpluses were largely frittered away on vote-buying middle-class welfare, CGT discounts and super concessions, creating a permanent structural budget deficit. Lay the blame for today’s mess where it’s due, I think. In the early 2000s, John Howard’s view on higher house prices was on song with the community. But voters’ views of the property market have changed.

After reading Peter Hartcher’s piece I came back to his words: “The idea of a tax on gas exports could raise tens of billions. The proposal has considerable backing, but the government has ruled it out for now. ” Why?

Tens of billions are to be spent on being part of a war machine called AUKUS, and yet when it comes to offering tangible relief in the face of the “entrenched realities” of higher costs of living, interest rates and oil prices the government this time shies away from being a doer to being a pleaser. Let’s not forget: it’s one thing if others are out of work, but something totally different if it’s you out of work .

More appalling still is that ordinary Australians continue to receive little in return from our gas resources. Thanks to Senator David Pocock, most of us now know that we pay more in beer excise than gas giants pay in Petroleum Resource Rent Tax. If introduced by the Labor government, a 25 per cent gas export tax would raise an estimated $17 billion a year.

It would also help restore faith that the nation’s resources are being managed in the national interest. In short, it would be a win for Albanese and all Australians. , October 3). My research shows the real cost of sending the data from a retailer to the card issuer is between .01 to .05 cents.

This data transfer costs the same for a $5 cup of coffee as for a $100,000 transaction. When the dollar value, transmitted as data, hits the payee’s account there is a payment transfer to the retailer’s bank account. Again, this transfer of data still only costs between .01 to .05 cents, and probably less if the customer and retailer use the same bank. Another unethical rip off by the banks and card issuers.

When offered a credit card, now without surcharge, the coffee shop owner responded with a discount for cash. Like the tobacco tax fiasco, the consumers will vote with their wallets while retailers pay zero tax on the cash. I am wont to saunter along my high street every few days to do errands, popping into the pie and pastry shop for a spinach quiche and a couple of dinner rolls while I am at it.

As usual, this week I proffered my card to tap the EFTPOS terminal where it is normally kept on the counter top, but it was not there. The attendant politely but firmly said to me: “Cash better now”. Why do banks, which make millions, if not billions, in profits, expect businesses to pay card transaction fees? And for such charges to be passed on to consumers?

Who is fooling who? The reaction to David Shoebridge becoming leader of the Greens seems to be mixed. But it was pleasing to read that he is opposed to AUKUS and that he has called for “the United States military to be evicted from its prized Australian facilities”, and, generally, that he doesn’t want the US to wage any war with China from our shores and have bases and facilities here that will make us a target.

These are important issues that he raises and hopefully will lead to public discussion and perhaps some explanations and release of details from the Albanese government. Shoebridge just may be the right person to follow up on these matters, and he should also constantly remind Albanese and his government about climate change and the need to accelerate progress on renewable energy.

Good luck, David Shoebridge, pursue and hammer this Labor government which has gone to sleep on these important issues – just don’t expect any support from the Coalition or One Nation. , October 3) says David Shoebridge needs to drop the “replace Labor” line and get back to the Greens’ core issue: the environment. The Climate Council’s website informs us that “since coming to power, the Albanese Government has approved 37 new, expanded or extended coal, oil and gas developments”.

Given Labor’s track record of continuing to approve fossil fuel extraction, while hypocritically assuring our Pacific Islander neighbours of its concern about rising sea levels, how exactly do the Greens adopt your correspondent’s suggestion? As has been said before, climate change depends on the laws of physics and the laws of physics do not permit for compromise, a concept that Labor clearly cannot grasp. ”, October 3), I am keen for something to be done.

Bored, disengaged youth requires mentoring, supervision and boundaries, not prison. How can a government address this? I’m all for training camps and outdoor experiences to be set up to train recalcitrant youth to develop a sense of belonging, need, resilience in self and a work ethic . How can this happen?

What consultation is taking place to change the current disaffection, boredom and thrill seeking behaviour of these youths? About 20 years ago, a team of surgeons broke into my ribcage using a circular saw and a cold chisel . They stopped my heart and did a spot of valve replacement. I was oblivious, thanks to talented anaesthetists.

If the American states want to kill their convicted criminals in a “dignified” manner, surely all they need is a bunch of similarly competent practitioners to do their dirty work? , October 3) is quick to criticise “city-centric” writers who oppose the extension of the Hunter Valley Operations coal-mine. Looking at the big picture, the project is set to cause hundreds of millions of tonnes of greenhouse gas pollution over its lifetime.

It will directly fuel global warming and the extreme weather disasters we are now experiencing as a result. City-dwellers know well the effects of such disasters. One example is the Black Summer fire season of 2019-20, when severe bushfire smoke blanketed the Sydney metropolitan area, pushing air quality to hazardous levels over a number of weeks. Sporting events and other activities were cancelled.

Surely city dwellers too have a right to voice their concerns about this ill-considered project. Those opposing the extension of coal mining in the Hunter Valley are far from “city-centric”. Although some of us, myself included, live in Sydney, we know that all NSW residents are paying the price of climate change — in our insurance costs, in food prices and, as taxpayers, in the cost of disaster relief and infrastructure replacement.

Meanwhile, coal corporations care about cash, not workers. We have long argued that a fair go for coal communities means planning for a coal-free future. Each extension is simply digging a deeper hole, figuratively as well as literally. If we continue to burn fossil fuels, almost none of us will be able to enjoy our current lifestyle, and many people worldwide will die as the temperature continues to rise, severe weather events increase and crops stop growing.

Your correspondent’s thinking will continue to lead us to disaster. I wonder if he has grandchildren. Your correspondent asks what will happen when the coal mines in the Hunter region close. In fact, an army of people are asking the same question and working towards solutions because coal mining is dying.

According to the International Energy Agency, global demand for coal has flattened, particularly in China, our main market. Renewables are proving cheaper and much cleaner than coal. Coal mining is not going to provide “long-term employment”, just short-term gain.

Meanwhile, regional areas to the north of the Hunter are paying the price for the resulting climate change through near annual floods, exponentially rising insurance costs, and collapsing housing values to keep open a dying industry. Recent accidents highlight the immaturity and inability of young people to realise their responsibility and accountability when in control of power-driven vehicles , in their many forms, and they have an accident.

Authorities are being derelict in their public responsibilities by ignoring the need to take action to regulate, in particular, fat e-bikes. Children are driving these potentially lethal weapons, at times with a passenger, unconscious of what could go wrong and the consequences of having an accident. Those who elect to take public office must do their job and regulate fat bikes.

A fully licensed motorbike rider must have held a licence for 12 months before they can legally carry a pillion passenger, and yet a 10-year-old on a fat bike can do so without any public liability or penalty. How ridiculous is this? My view is that the authorities are focusing on the wrong things in trying to regulate these machines.

Focusing on motor power, speed and whether the bike is being pedalled are important but they don’t get to the nub of the problem, which is mostly about behaviour. In particular, it is the behaviour of young people riding the so-called fat tyre bikes. E-bike riding behaviour would be improved considerably with one simple measure. Ban the twist throttle.

A twist throttle instantly turns the bike into a motorcycle and changes the cyclist into a motorcyclist. With a twist throttle, there is no need to pedal. Walk mode — up to 6km/h – can be facilitated by a button so that can’t be the reason. Like many other public policy matters, the most effective solutions are often disregarded in favour of more complex rules that don’t work.

”, October 3). There’s so much common ground that points to the need for us to strive to be loving and kind. I was blessed with a loving wife of 65 years who had those qualities in spades. ”, October 3).

Over the past 60 years, Australia has been immeasurably improved by migrants and refugees – from war-devastated Europe, then Türkiye, Lebanon, Vietnam, Thailand, India, Sri Lanka, Africa and, most recently, Afghanistan. Their different origins, faiths and beliefs have changed Australia from its former white Anglo-Saxon Protestant past to reveal and reflect the world in which we live. ) prompted me to reflect on how my perspective changed as a mature age student.

When l attended university straight from school I built on the subjects I had done well in my HSC. Fast-forward to 20 years later, I returned to study with life experience and made entirely different choices. I selected subjects that were my “weak” areas. I developed new strengths and was able to excel both in my studies and in my professional roles.

I agree with your columnists and letter writers that knowledge is the greatest gift. It is a shame that the high cost of a degree is likely to undermine a broad education, and will ultimately limit our children’s potential.

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Australian Politics Budget Surplus Gas Export Tax John Howard Peter Costello

 

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