Australian Politics thread [merged]

[Francois Jackson]

https://www.theage.com.au/national/victoria/andrews-urges-stimulus-as-state-teeters-on-the-brink-of-recession-20200305-p5475i.html?fbclid=IwAR1PW3DWw3gFhfYoBitz8HLEUm8Ye-ry3DVmHcI_x6AC1azKZqZmuQTHSH8

doing a great job is Dan. Must be as a result of the fires aye.

what do they expect when you have such a flog like pallas in charge of the books. Look what he is doing in the west, and now he is screwing up the rest of the state.

[1965]

Seems like Bridget McKenzie has had enough of being the fall guy for ScoMo.


Once again ScoMo has been shown to be loose with the truth (ie he is a lying son of a bitch)


Not to be trusted.


https://www.theage.com.au/politics/federal/unbeknown-to-me-mckenzie-rejects-sports-rorts-back-dating-claim-20200305-p547d4.html

[mightytiges]

Seems like Bridget McKenzie has had enough of being the fall guy for ScoMo.

Once again ScoMo has been shown to be loose with the truth (ie he is a lying son of a bitch)

Not to be trusted.

https://www.theage.com.au/politics/federal/unbeknown-to-me-mckenzie-rejects-sports-rorts-back-dating-claim-20200305-p547d4.html

And so predictable that he's been caught lying again  .

Morrison is full of it! The same goes for his denials and lies regarding his government's systemic rorting of taxpayers money. His so-called delivered (past-tense) surplus for 2019-2020 looks like being another lie as well.

[mightytiges]

The Aussie stock market has taken a 6% hit so far today. Biggest daily fall since the GFC. Energy sector down 18% due to the fall in the global oil price due to falling global demand.

[mightytiges]

PM considers ‘Rudd era’ cash handouts to mitigate coronavirus economic fallout.

https://www.skynews.com.au/details/_6139563663001

 


ps. I could do with a new computer  .

[Assange Tiger 😎]

Should be increasing Newstart but they won't. Those poor bastards will be hit the hardest if things get dire

I'll take a handout though why not

[Andyy]

PM considers ‘Rudd era’ cash handouts to mitigate coronavirus economic fallout.

https://www.skynews.com.au/details/_6139563663001

 


ps. I could do with a new computer  .

Haha, waiting for the righties to come out and say it's a good idea when all the did was pan Rudd.

Evidence suggests the stimulus package helped - although I would have structured it differently perhaps (IE. cash only given to people spending on Aus businesses/industries).

[one-eyed]

The Federal Government has announced a $17.6 billion economic stimulus package .

Key points:
* The Government will pump $11 billion into the economy between now and July
* Welfare recipients will get $750, and there will be tax breaks for small businesses
* The Government concedes it will not deliver its forecast surplus for this financial year


More than 6 million welfare recipients, including pensioners, carers, veterans, families, young people and jobseekers will get a one-off cash payment of $750 from March 31. The one-off payments will cost the Government $4.8 billion.

Mr Morrison also said casual workers who contracted COVID-19, or had to isolate themselves, would be eligible for a Newstart welfare payment while out of work. The typical wait time to access the payment will be waived, but people will face an assets test before receiving the money.

Nearly 700,000 small and medium businesses will receive cash payments of between $2,000 and $25,000 to help pay wages or hire extra staff. The measure is the largest part of the package, and is estimated to cost $6.7 billion.

Medium and big businesses will be encouraged to spend on equipment and other investments through an extension of the instant asset write-off, which means they can claim a tax break for what they spend. This is currently restricted to companies with turnovers of up to $50 million, for maximum investments of $30,000. But this will be significantly lifted, allowing companies with turnovers of up to $500 million to make assets write-offs of up to $150,000.

The stimulus package also includes $1.3 billion in support payments to keep apprentices in their jobs amid fears the spread of the coronavirus could have a crippling effect on employment.

The stimulus package also includes a $1 billion fund to help the tourism sector.

The Government yesterday allocated $2.4 billion for a health package, including 100 pop-up coronavirus fever clinics and a new Medicare item to deliver health advice remotely.

Finance Minister Mathias Cormann has now confirmed that there is "obviously not going to be a surplus year in 2019-20". Prime Minister Scott Morrison now says the full extent of the deficit will be revealed in May's federal budget. "The way we've designed this stimulus is to ensure that it doesn't have a fiscal hangover down the track, that it doesn't bury the budget for a decade."

https://www.abc.net.au/news/2020-03-12/federal-government-coronavirus-economic-stimulus/12042972

[Francois Jackson]

That's what I call a stimulus not that Rudd fiasco.

I do like how not everyone is getting the $750

Well played Scomo

[1965]

Let's wait and see before we praise Scotty from Marketing too much.

[Assange Tiger 😎]

Wait and see what?

[Diocletian]

If Electricity Bill or Each Way Albo were in charge we'd already be like Italy...

[mightytiges]

That's what I call a stimulus not that Rudd fiasco.

For all of Rudd's faults and the pink bats program being rushed out uncontrolled and stuffed up, Australia all-up avoided a recession under his watch. So the stimulus in its entirety back then did its job and worked.

After a decade of LNP sycophants slamming the use of multi-billion dollar spending to fight our way out of the last global economic crisis rather than cutting government spending, we now have the LNP resorting to multi-billion dollar spending  . Nothing like hypocrisy! If this was Labor doing this they would going off their nut screaming "economic mismanagement", "budget emergency" and "we need an election" as Abbott did but because it's the LNP more "debt and deficits" is all good . Since 2013, this LNP government had racked up more debt than all preceding governments back to federation combined.

The Reserve Bank and senior economists had been calling for stimulus for our ailing economy for the past couple of years yet Morrison and co. were more obsessed with playing politics proclaiming an imaginary surplus,  offering tax cuts and backing unsustainable middle class welfare like $6 billion dollars worth of franking credits and negative gearing that the country could increasingly no longer afford and that failed to stimulate the economy anyway.

I do like how not everyone is getting the $750

You mean like how the most vulnerable to an economic crisis - the low-paid working class - got stuff all? The very people who need and would spend the money and stimulate the economy in large numbers as consumers are getting nothing. Businesses curb their spending when they are in financial trouble and their customers are no longer buying their stuff. Consumer confidence was down even before the bushfire and corona crises. So $3 out of $4 in this package going to business (hello trickle-down economics!) is a flaw.

Wait and see what?

Wait and see ... for the need for another multi-billion dollar stimulus package. Morrison is kidding himself if he thinks the economic effects of this will be over by the end of June. Stock markets have crashed and are continuing to fall  . Wall Street had its biggest fall overnight since the 1987 October crash. The latter lead to a global recession.

If Electricity Bill or Each Way Albo were in charge we'd already be like Italy...

This post didn't age well beyond even half a day given the Morrison government has banned all mass gatherings (starting Monday so Morrison can go to the NRL footy this weekend ) and is increasing the travel bans. Sadly, this is only the beginning [/inserts ].

[Assange Tiger 😎]

[1965]

Well said 🤔