That Was A Fudge – It Not Worth The Paper It Was Written On

That Was A Fudge – It Not Worth The Paper It Was Written On

Just what is it with politicians that when they make a monumental stuff – up they fail to acknowledge their very own stupidity was the cause of the problem. No better example than – What Wayne Swan won’t say tonight in his Budget 2013 delivery.

There can be no other word except that the Gillard government’s financial management is in complete disarray. All I read in the 2013 Fudge – it was more debt and more taxes where gross debt will breach the $300 billion debt ceiling within the forward estimates. This is hardly a positive outcome and only goes to confirm exactly why this government has completely lost the confidence of Australia’s businesses and voters. As they say you can only be judged by your results and the Fudge -it 2013 simply confirms they have no answers on just how to turn this woeful debt positioning around.

So much for the thousands and thousands of promises that it was “not negotiable” that the 2012/13 Budget would see a return to surplus – oh well, this time they were only $18.400 billion out with the deficit coming in at $19.400 billion. Budget 2013: Howard says budget was to disadvantage opposition.

Mr Howard told a business breakfast in Brisbane the most extraordinary thing about Tuesday night’s budget speech was that for the first time he can remember it was entirely focussed on the opposition, not the government. “The government was saying, ‘we are committed to these great reforms in disability care and Gonski’, saying ‘we will do everything we can to put the opposition in a difficult position of either supporting those reforms or alternatively getting rid of support for other measures’, he said.

“In other words, the budget last night was not about the future of the economy, rather it was about politically disadvantaging the opposition.”

Pyrmont-Darling-CBD

BUY PRINT

A quiet end to Treasury’s tame double act. Tonight’s federal budget will not only confirm that the previous Swan – Parkinson budget was a complete shambles but will lock – in a Coalition election win in September. Therefore, the 2013/14 budget will not only be the last for Treasurer Wayne Swan but also his Treasury secretary, Martin Parkinson. What remains to be seen is Budget 2013: How Abbott will tear up the blueprint. It won’t be easy, although it will be easy to remove the Rudd/Gillard over-regulation of business which will reduce billions of dollars of excessive business cost surcharges that have been burdened on businesses across Australia.

VRN graph 1

VRN graph 2

Property taxes remain a strong earner for governments: Cameron Kusher – analysis by RP Data on the amount of tax income derived from property to bolster state and local government revenue during 2011/12 financial year revealed that a whopping $33.515 billion was earned from this source. Over the year, this equated to 46% of all taxation revenue for state and local governments and while down from 47.2% over the 2010/11 financial year, the total amount of property taxes rose by 0.9% over the financial year.

Cast your mind back to the introduction of the GST in 2000 where these taxes were to be removed as a result of the introduction of the GST. Unfortunately for the innocent taxpayers they keep on being hit with double – whammy taxation regimes. So it would be astounding to see the GST rate increased whilst the GST introduction mandate has been nothing more than a complete falsehood.

Source: Australian Property Monitors

MOSMAN – 2088

• Number of houses on the market this time 2012 – 109
• Number of houses on the market last week – 83
.Number of houses on the market this week – 88
• Number of apartments on the market this time 2012 – 99
• Number of apartments on the market last week – 85
.Number of apartments on the market this week – 72

CREMORNE – 2090

• Number of houses on the market this time 2012 – 14
• Number of houses on the market last week – 17
.Number of houses on the market this week – 8
• Number of apartments on the market this time 2012 – 31
• Number of apartments on the market last week – 17
.Number of apartments on the market this week – 20

NEUTRAL BAY – 2089

• Number of houses on the market this time 2012 – 18
• Number of houses on the market last week – 7
.Number of houses on the market this week – 11
• Number of apartments on the market this time 2012 – 66
• Number of apartments on the market last week – 29
.Number of apartments on the market this week – 27

For this week’s sales in Cremorne real estate, Cremorne Point real estate, Mosman real estate, Beauty Point real estate, Clifton Gardens real estate, Balmoral real estate, Neutral Bay real estate, Cammeray real estate.
• Click Here

For this week’s opens for inspection
• Click Here

Listings this week remained in holding pattern where we cannot really expect to see any significant changes until after September 14.

With the benefit of hindsight one must admit being a politician is quite a fascinating employment ride when compared to how big business is run. In big business should one make a series of diabolical business decisions one is immediately terminated. Yet in politics one can get away with such incompetency by simply blaming other economic forces to thus ensure that their respective superannuation nest eggs remain safely guaranteed.

One gets a feeling that come September 14 quite a few will learn that budget now will take on an entirely new complexion. As in businesses use – by – dates are a fact of life and for some life after politics may very well become a lonely existence.

Cheers ^__^

One Response to “That Was A Fudge – It Not Worth The Paper It Was Written On”

  • Ann says:

    NewsPoll will be interesting next week. Apart from that business and consumer confidence is not looking the best

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