Swan Releases Mid-Year Economic and Fiscal Outlook: Budget Surplus Shaved

Nov 29, 2011

The Treasurer, Wayne Swan, has released the Mid-Year Economic and Fiscal Outlook (MYEFO). It forecasts an increased budget deficit for 2011-12 and a small surplus in 2012-13.

Key points from MYEFO:

  • 2011-12 budget deficit has increased to $37 billion from the budget forecast of $23 billion.
  • The budget surplus for 2012-13 has been downgraded from $3.5 billion to $1.5 billion.
  • Deteriorating economic conditions have cut $20 billion from revenue over the four-year forward estimates.
  • Additional savings of $11.5 billion over four years have been announced.
  • The baby bonus has been cut from $5400 to $5000.
  • A 2.5% efficiency dividend, on top of an existing 1.5%, will produce savings across government departments of $1.5 billion.
  • The federal and High Courts, and cultural institutions such as the Australian War Memorial have been been protected from cuts.
  • There will be a crackdown on living away from home tax concessions, an increase in the eligibility age for the dependent spouse offset.
  • Gross Domestic Product is now forecast to grow by 3.25%, down from 4.25%.
  • Unemployment is expected to be 5.5% in 2011-12 and 2012-13, slightly up on budget forecasts.

[Read more...]

Filed Under: Audio, Audio2011, Budget, Gillard Government, Liberal Party, Video Tagged With: , , , , , ,

Tony Abbott Speech on the Economy to The Sydney Institute

Nov 21, 2011

Federal Opposition Leader Tony Abbott has delivered a speech on the economy to The Sydney Institute.

Whilst containing no new policy initiatives, the speech attempts to broaden Abbott’s campaign against the government into the prevailing discussion about China and the economic crisis in Europe.

Abbott reiterated his proposals for budget cuts, improved economic growth, productivity reform and workforce participation.

AUDIO of the speech will be posted here once it becomes available.

Official transcript of Tony Abbott’s speech to The Sydney Institute.

Almost 50 years ago, an influential book described Australia as the “lucky country”.

Author Donald Horne meant that we’d relied on our luck rather than on our insights or on our hard work to get where we are but the irony was largely missed.

As if to prove his point, the tag passed into popular use and ever since has helped to reinforce the complacent expectation that something would always turn up to keep us safe and prosperous.

There is a complacent assumption from people who should know better that Australia is largely immune to the economic turmoil threatening Europe because China’s growth guarantees our future prosperity.

There’s no doubt that the China boom has sustained Australia’s economic success over the past decade.

There should equally be no doubt that the boom will one day end. Otherwise, it would be the first never-ending boom in human history. [Read more...]

Filed Under: Economy, Liberal Party Tagged With: ,

Liberal Party Launches New Attack On Labor’s 4th Anniversary

Nov 20, 2011

Ahead of the fourth anniversary of Labor’s 2007 election victory, the Liberal Party has launched a new attack on the Rudd and Gillard governments.

The campaign includes an advertisement and a “briefing note” on “Labor’s four years of failure”.

Filed Under: Gillard Government, Liberal Party, Video Tagged With: ,

Scott Morrison Promises To Protect The “Borders Of Our Values”

Nov 18, 2011

Scott Morrison, the Opposition spokesman on Immigration, has delivered a major speech in which he argues that Australia “must protect the borders of our values”.

Speaking to the Federation of Ethnic Community Councils of Australia conference, Morrison said: “In our nation, we must never compromise our values, by agreeing with those who suggest that even their definition is an instrument of exclusion. We must protect the borders of our values.”

“In our nation we celebrate the values that have defined us as a nation and lived and added to by each new generation and each new wave of arrivals, making their own contribution.

“In our nation we must uphold freedom of religion, speech and thought, while ensuring our laws are never altered to provide special concessions for any one group by virtue of their religion, race, ethnicity, language or birthplace.

“In our nation we must ensure that English remains our one and only language and encourage its adoption in all corners of our community, by all ages, ethnicities and nationalities.”

Transcript of Scott Morrison’s Address to the 2011 Federation of Ethnic Community Councils of Australia conference.

“Our Nation”

A liberal perspective on immigration and social cohesion in modern Australia [Read more...]

Filed Under: Immigration, Liberal Party Tagged With: , ,

Abbott Says No To Superannuation Levy Increase But Won’t Repeal In Government

Nov 18, 2011

Opposition Leader Tony Abbott says the coalition will not support increases to the superannuation levy but nor will it repeal them in government.

Tony Abbott addresses the Financial Services Council

The Gillard government is proposing to increase the compulsory superannuation levy from 9% to 12% over eight years.

Speaking to the Financial Services Council today, Abbott said his party’s instinct “is to provide incentives, not to coerce people. Nevertheless, once these things are there we don’t add to them but we don’t roll them back and that is the approach that we will take to the current legislation. We aren’t going to support it in the Parliament but if it goes through we will not try to rescind it. We do accept that it is very important that people have adequate retirement incomes, particularly with an ageing population.”

  • Listen to Tony Abbott’s speech:

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  • Listen to Tony Abbott’s media doorstop:

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Transcript of Tony Abbott’s speech to the Financial Services Council.

Well, Craig, thank you so much. John, thank you very much for the invitation to be here. It is good to be amongst so many people who are so important to the retirement savings of our nation. It’s great to have the Shadow Minister for Seniors, Bronwyn Bishop here. It’s also good to have my colleague from Bradfield, Paul Fletcher here.

I really do want to say at the outset just how important you are to all of us. As John pointed out earlier this morning, you have $1.8 trillion of our money in your hands and that’s a heavy responsibility. We want our nest egg to grow and it will grow because of the intelligent decisions that you make. So, you are very important to our people, very important to our country and it gives me great confidence to be here today and to see how obviously enthusiastic you are about the work you do and how extraordinarily conscientious you are about the work you do. [Read more...]

Filed Under: Audio, Liberal Party Tagged With: , ,

Craig Thomson and Mary Jo Fisher: MPs in the News

Sep 09, 2011

Reports from this evening’s Channel 10 news bulletins on the latest allegations against Labor MP Craig Thomson and the trial of Liberal Senator Mary Jo Fisher.

Filed Under: Gillard Government, Liberal Party, Video Tagged With: , ,

Turnbull Condemns Rejection Of Climate Science

Jul 21, 2011

Malcolm Turnbull has delivered a speech pleading for the science of climate change to be respected.

  • Listen to Malcolm Turnbull’s speech:

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This is the prepared text of Malcolm Turnbull’s speech to the Virginia Chadwick Foundation.

Malcolm Turnbull delivers the inaugural Virginia Chadwick Foundation speechThis Foundation commemorates the life and work of Virginia Chadwick, one of Australia’s most influential female parliamentarians and a strong friend of the environment. Let me say a few words about her at the outset.

She was a teacher before she presumably decided her charges were not unruly enough and so entered the NSW Parliament – better known as the Macquarie Street Bear Pit! John Fahey the former Liberal Premier of this State and Federal Finance Minister remembers that place very well!

Virginia was elected to the NSW Legislative Council representing the Liberal Party in 1978 at the age of 33. Over 21 years at Macquarie Street she blazed a trail for others to follow: she was the first female president of the NSW Legislative Council, first female Opposition Whip, first female Liberal minister and first female NSW Education minister. [Read more...]

Filed Under: Audio, Audio2011, Climate Change, Liberal Party Tagged With: , ,

Reith Review of Liberal Party Election Campaign Released

Jul 18, 2011

The Liberal Party has released Peter Reith’s review of the 2010 federal election campaign.

Reith Review of the 2010 Federal Election coverThe report by the former Howard government minister is 33 pages long and contains 34 recommendations to the Liberal Party’s Federal Executive.

One recommendation is that “the concept of preselections by plebiscite be introduced for House of Representatives seats prior to the next federal election in all States”. Another asks “that the party positively consider, subject to practicality, conducting two trial primaries for the forthcoming Federal election”.

On the conduct of the election campaign, Reith says “Tasmania was a classic case where more should have been done and particularly on policy”. He also questions why the party won the Victorian State election in November but “did less well” in the federal election. The ALP won two extra seats (La Trobe and McEwen) in Victoria. Reith cites the party’s poor result in South Australia as evidence of the need for “policy relevance”, especially on water management.

In NSW, the report examines the timing of preselection in Lindsay and the choice of candidate in Robertson, where Reith says the former member Jim Lloyd should have been encouraged to stand. Reith says “factionalism has weakened branches and membership throughout NSW and weakened our campaigning capability”.

Filed Under: 2010 Federal Election, Liberal Party Tagged With:

ALP Releases Anti-Abbott Ad

Jul 08, 2011

The ALP has released on YouTube an advertisement attacking Tony Abbott as “Mr. Negativity”.

George Wright, the ALP National Secretary, said: “There’s no doubt Tony Abbott is the most mindlessly negative Opposition Leader in history. Sure, people expect Oppositions to oppose – but Mr Abbott has made it ridiculous. With no vision for Australia, no plan for the future, Tony Abbott’s default position is ‘No, No, No.’”

Filed Under: Gillard Government, Liberal Party, Video Tagged With: ,

Joe Hockey’s Budget Reply Speech

May 18, 2011

The Shadow Treasurer, Joe Hockey, has delivered the traditional Budget reply speech to the National Press Club, in Canberra.

Shadow Treasurer Joe Hockey addresses the National Press Club

  • Listen to Hockey’s speech (31m)

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  • Listen to Hockey’s responses to questions (29m)

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  • Listen to Hockey’s response to a question from Fairfax journalist Peter Martin (2m)

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Prepared text of Joe Hockey’s Address to the National Press Club.

THE WRONG BUDGET FOR THE TIMES

The Budget is the most important economic statement of the year. It provides the Government with an opportunity to detail its response to the policy challenges of the day.

It is also a unique opportunity to lay down a policy road map that will contextualise Government statements and give confidence to business and consumers that the nation is navigating a clear and decisive course. [Read more...]

Filed Under: Audio, Budget, Liberal Party Tagged With: , ,