Labors MESS they left Australia in

[nero_bolt]

We were recently reminded by the Commission of Audit of the immense challenge to restore the Budget over the long term.
 
Six years of Labor delivered:

• five record Budget deficits,
• a further $123 billion in deficits for the next four years, and
• debt projected to reach at least $667 billion.

 
Today we are releasing a document that sets out in detail the legacy that Australians have been left by Labor. 

While the Coalition Government did not create this mess, we are determined to do the responsible thing by all Australians.
 
The next step in the Abbott Government’s Economic Action Strategy to build a strong, prosperous economy will be the release of the Budget next Tuesday night.
 
The Government will face up to the difficult but necessary decisions to repair the Budget so that we can build a stronger economy. 
 
It is in building a stronger economy that we can create more jobs, help small businesses and families and ensure there are more opportunities for all Australians.

Regards,

Mathias Cormann
Minister for Finance

64 Pages of the sad and sorry mess that Labor left Australia in

http://www.laborsmess.com.au/ 

http://www.laborsmess.com.au/?utm_source=Liberal+Party+E-news&utm_campaign=01c401355e-Labor+Mess+Boo...

Or the 64 page PDF is here

http://www.laborsmess.com.au/LaborsMess.pdf?utm_source=Liberal+Party+E-news&utm_campaign=01c401355e-...

[fiestas*girl]

when in government last time around, the libs spent nothing!

that had a direct affect on services like hospitals education. community services for the aged and disabled

hell yeah, lets go back to the dark ages and wll the great community projects and services can be scrapped just to save a lousy buck or 2

cheapskates

[fourandsixpants]

libs ALWAYS operate like this. They are a blight.

Notice how they and their back slapping mates in big business do very very well for themselves though.

It's a pattern I have seen over and over again, election term after election term - yet apparently the majority wanted them to rule the roost.........

[izabsmiling]

Ignore the audit furphy and take some free advice

By Greg Jericho

Posted Wed 7 May 2014, 7:24am AEST

The Grattan Institute has given us a much more sensible list of budget proposals than the Commission of Audit, and best of all, it hasn't cost taxpayers a thing, writes Greg Jericho.

For a report on ways to cut government waste, the one written by the Commission of Audit was really about 1200 pages too long. Given the exercise was meant to cost $1 million but ended up costing us $2.5 million, surely the commission's report should have consisted of "sack us and instead use some of the other many, and much more sensible, reports from think tanks".

One of the more ironic aspects of the reporting on the Commission of Audit is that no one seems at all fussed that many of its recommendations are so politically suicidal as to be rendered straight for the scrap heap. It's bizarre for a report notionally about government waste to waste so much space recommending things it knows the government will not do.

A much more efficient (a word the commission was very keen on) exercise would be to instead consider the views contained in reports by think tanks such as the Centre for Policy Development, Per Capita, Australia Institute or Centre for Independent Studies. 

One such think tank, the Grattan Institute, this week released its report "Budget pressures on Australian Governments 2014". The report is in many ways a sequel and update of its report from last year: "Balancing Budgets: tough choices we need."

The report last year got most focus for its recommendation to increase the pension age to 70 years by 2025. The Commission of Audit argued for the same measure, but for it only to be introduced by 2053. As Michael Janda noted, that would be after most of the Baby Boomer generation have passed away, and thus would be a rather pointless policy shift.

And seniors are the big issue of welfare. The Grattan Institute looked at growth in expenditure compared to GDP growth: 

http://www.abc.net.au/news/2014-05-07/jericho-ignore-the-audit-furphy-and-take-some-free-advice/5433...

Certainly little of the report's recommendations are easy "low hanging fruit" that people suggest the budget is full of. It noted that changes to "middle-class welfare" would actually produce much lower savings than other measures.

And finally the report acknowledges the difficulties and impacts of its proposed cuts or increases to revenue, noting that "big and difficult reforms may be best introduced in a package" as this would enable the government to show the problem and also that "the burden is widely shared" while also including some measures to mitigate "the impacts on those worst off and least able to absorb adverse change".

All in all, the report offers a much more sensible view of the Australian economy than present in the Commission of Audit. It also did not require the government having to spend $2.5m to get it. 

Perhaps the next time a government wants to "fix the budget" instead of commissioning an audit whose main purpose seems to be just to help frame the budget and blame the previous government, perhaps they can cut some waste by just having a look around and use some of the much better advice that is already available.

[izabsmiling]

Has the Government doubled the budget deficit?

Updated Tue 6 May 2014, 9:46am AEST

PHOTO: Is Chris Bowen right to say the Government has doubled the deficit? (AAP: Daniel Munoz)

Treasurer Joe Hockey is the "Masterchef of cooking the books" according to his Opposition counterpart Chris Bowen, who has repeatedly accused the Coalition of using "voodoo economics" to create a sense of crisis to justify dramatic spending cuts in the May 13 budget.

• The claim: Chris Bowen says Joe Hockey has doubled the deficit by changes to Government spending and changes to Government assumptions.
• The verdict: Since the election, the official forecast deficit has doubled. The economic assumptions are different from those used before the election, and spending decisions have been made that were not in the previous forecasts. Mr Bowen's claim checks out.

http://www.abc.net.au/news/2014-05-06/has-the-government-doubled-the-budget-deficit/5423392

The Coalitions 2013 Federal Elections Policies WERE NOT "FULLY FUNDED AND FULLY COSTED".

THEY LIE 

[boris1gary]

[izabsmiling]

Hi Boris  I have always agreed with Malcolm Fraser on that one.

[waterlilycat]

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@nero_wulf wrote:

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Lemons from lemons what else could you expect from the losers of the century, wait a minute!!! it's Australia who are the losers, after the 6 years of hell labor put it through and now we are left to clean up their mess.....AGAIN.

[boris1gary]

Hi Iza,

http://theaimn.com/2014/05/07/i-refuse-to-live-in-fear/

Our country is not broke. Using great big numbers about possible debt in ten years’ time and inflated deficit figures is purely designed to scare us. Why do that? Don’t you want business and consumer confidence? This scare campaign is purely political to exaggerate the problem, blame it on Labor, and use it as an excuse to implement their corporate agenda and social engineering.

[izabsmiling]

[izabsmiling]

Tony Abbott says voters will thank him for trying to repair bottom line