2012-13 Budget Documents

May 08, 2012

Download the official 2012-13 Budget documents released tonight by the Treasurer Wayne Swan.

All documents are PDF.

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Treasurer Wayne Swan’s 2012 Budget Speech

May 08, 2012

This is the official transcript of Treasurer Wayne Swan’s 2012-13 Budget Speech in the House of Representatives.

  • Listen to Swan’s speech:

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Madam Deputy Speaker, I move that the Bill now be read a second time.

Strong Economy and Fair Australia

Wayne SwanThe four years of surpluses I announce tonight are a powerful endorsement of the strength of our economy, resilience of our people, and success of our policies.

In an uncertain and fast‑changing world, we walk tall — as a nation confidently living within its means.

This Budget delivers a surplus this coming year, on time, as promised, and surpluses each year after that, strengthening over time.

It funds new cost of living relief for Australian families.

It helps businesses invest, compete and adapt to an economy in transition.

And it finances bold new policies to help Australians with a disability, the aged, and those who can’t afford dental care.

It does these things for a core Labor purpose:

To share the tremendous benefits of the mining boom with more Australians. [Read more...]

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Reserve Bank Cuts Interest Rates By 0.5%

May 01, 2012

The Reserve Bank of Australia has cut the cash rate by 50 basis points, or 0.5%, to 3.75%.

The decision, predicted last night by former RBA Governor Bernie Fraser, takes interest rates back to where they were in December 2009.

Treasurer Wayne Swan, Shadow Treasurer Joe Hockey and Australian Chamber of Commerce and Industry Chief Executive Peter Anderson have all commented on the rates decision.

  • Listen to Treasurer Wayne Swan’s press conference (12m) – transcript below

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  • Listen to Shadow Treasurer Joe Hockey’s media conference (5m)

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  • Listen to Peter Anderson’s media conference (6m)

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  • Table of interest rate changes since 1990

Text of statement by RBA Governor Glenn Stevens.

At its meeting today, the Board decided to lower the cash rate by 50 basis points to 3.75 per cent, effective 2 May 2012. This decision is based on information received over the past few months that suggests that economic conditions have been somewhat weaker than expected, while inflation has moderated.

Growth in the world economy slowed in the second half of 2011, and is likely to continue at a below-trend pace this year. A deep downturn is not occurring at this stage, however, and in fact some forecasters have recently revised upwards their global growth outlook. Growth in China has moderated, as was intended, and is likely to remain at a more measured and sustainable pace in the future. Conditions in other parts of Asia softened in 2011, partly due to natural disasters, but have recently shown some tentative signs of improving. Among the major countries, conditions in Europe remain very difficult, while the United States continues to grow at a moderate pace. Commodity prices have been little changed, at levels below recent peaks but which are nonetheless still quite high. Australia’s terms of trade similarly peaked about six months ago, though they too remain high. [Read more...]

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2012 ANZAC Day Speeches

Apr 25, 2012

Prime Minister Julia Gillard has delivered ANZAC Day speeches at Gallipoli.

Minister Warren Snowdon spoke at ceremonies at Villers-Brettoneux in France.

Julia Gillard

  • Listen to Gillard’s speech at the Dawn Service at Gallipoli (6m)

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  • Listen to Gillard’s speech at Lone Pine, Gallipoli (6m)

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  • Listen to Snowdon’s speech at Villers-Brettoneux (9m)

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Governor-General Quentin Bryce’s ANZAC Day Address

Apr 25, 2012

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Latest CPI Figures Show Lower Inflation

Apr 24, 2012

Inflation increased by a negligible 0.1 per cent in the first quarter of 2012.

In the year to March, there was a 1.6 percent increase in prices. The underlying inflation rate was 2.1 per cent.

The low Consumer Price Index figure has surprised some commentators. The Reserve Bank is now being widely tipped to lower interest rates next week.

  • Listen to Wayne Swan’s press conference on the CPI figures:

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Statement from the Treasurer, Wayne Swan.

Consumer Price Index – March Quarter 2012

Today’s inflation data show a moderation in both headline and underlying inflation through the year to March, with underlying inflation remaining well contained at the lower end of the Reserve Bank’s target band after falling to its lowest level in well over a decade.

Today’s figures are another reminder of Australia’s strong economic fundamentals – solid growth, low unemployment, strong public finances, a huge pipeline of investment, plus contained inflation – which put the Australian economy in a league of its own. [Read more...]

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Former Prime Minister’s Primary School GFC Lesson

Apr 24, 2012

Former Prime Minister Kevin Rudd delivers a lesson on how his government tackled the global financial crisis in this video of his appearance at Wellers Hill State School in Brisbane.

The relevant section begins around the two-minute mark.

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A (Portentous?) Statement From Andrew Wilkie

Apr 23, 2012

Andrew Wilkie, the independent member for Denison, has issue the following statement about his negotiations with the government over its National Gambling Reform Bill.

Wilkie’s reference to “the uncertainty and changing circumstances in the Parliament” is intriguing.

A Statement on Poker Machine Reform

Andrew WilkieI wish to correct a media report today that I’ve extended my deadline for the Federal Government to address my concerns with the National Gambling Reform Bill 2012.

I gave the Families Minister, Jenny Macklin, a deadline of Friday April 20 to respond to my concern the Bill did not deliver on the Prime Minister’s promise that ‘we are ready to flick the switch to a best-practice mandatory pre-commitment system’ on Australia’s poker machines. I received a letter from Minister Macklin late Friday April 20 so that deadline was met.

I am now considering Minister Macklin’s response and taking advice in light of the uncertainty and changing circumstances in the Parliament. In Canberra today I’ve met with representatives from both the Government and the Opposition.

Today’s statement should be read in conjunction with Wilkie’s earlier statement on March 22:

DISCUSSIONS CONTINUE ON GOVERNMENT POKIES REFORM

The Independent Member for Denison, Andrew Wilkie, continues to work with the Federal Government to try and ensure the National Gambling Reform Bill 2012 is a stepping-stone to meaningful poker machine reform.

Mr Wilkie has had numerous meetings this week with Minister Jenny Macklin in an attempt to resolve two key issues. [Read more...]

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Gillard Announces $3.7 Billion Aged Care Policy

Apr 20, 2012

The Gillard Labor government today announced a suite of aged-care policies worth $3.7 billion over five years.

The package aims to facilitate more support and care at home for older Australians, better access to residential care, recognition for carers and more support for those with dementia.

The policy was announced by the Prime Minister and the Minister for Ageing, Mark Butler.

  • Listen to Gillard and Butler announce the package – transcript below

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  • Listen to Aged-Care spokespeople comment on the package

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Text of media release from Prime Minister Julia Gillard.

More choice, easier access and better care for older Australians

Under landmark changes to the aged care system, more people will get to keep their home, and more people will get to stay in their home as they receive aged care.

Prime Minister Julia Gillard and the Minister for Ageing, Mark Butler, today announced a 10 year plan to reshape aged care, beginning 1 July 2012.

The Gillard Labor Government will deliver the $3.7 billion Living Longer Living Better plan to deliver more choice, easier access and better care for older Australians and their families. [Read more...]

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Abbott: The Coalition’s Plan For A Cleaner Environment

Apr 20, 2012

Opposition Leader Tony Abbott has delivered what the Liberal Party describes as a “landmark speech” on the environment.

Tony AbbottAddressing the Australian Industry Group in Brisbane, Abbott said the Coalition “supports sensible measures to reduce carbon dioxide emissions..but will never accept the proposition that you could save the environment by killing the economy.”

Abbott said: “Today, I’m stating what the Coalition will stand for as well as what the Coalition has stood against. We support direct action that will reduce emissions, not just make them more expensive. We support the creation of a Green Army marching to the rescue of Australia’s degraded waterways, wetlands, and native vegetation.” [Read more...]

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