Category: LNP Economic Management

LNP Corruption, LNP Economic Management

Parliament lets Scott Morrison know who his tribe is – and it isn’t the premiers and chief ministers | Katharine Murphy | Australia news | The Guardian
Australian prime minister Scott Morrison

 

Frydenberg has stepped in front and center to try to deflect all the blame onto Victoria after all if The Commonwealth is found to be responsible for the outbreak of Covid in aged-care due to poorly regulated providers then they too are to blame for the crippling of the economy and not as Frydenberg would prefer it to be Andrews work. It seems Andrews doesn’t even need to buy into what’s patently obvious. (ODT)

Morrison has accepted some accountability for what’s happened, but he’s also kept Andrews squarely in the frame as I mentioned a moment ago. I’ve said before it is reasonable to point out that states have a role in managing outbreaks during the pandemic, and there are some overlapping responsibilities in aged care – but this offensive should also be called for what it is: a patent prime ministerial effort to sidestep blame. The prime ministerial sidestep is obviously effective, though, if our Guardian Essential poll is a reliable guide. When asked in the latest survey to identify who was to blame for the outbreaks in aged care during the pandemic, slightly more respondents identified the state government (30%) than the federal government (28%) – but more people blamed the providers (42%).

Parliament lets Scott Morrison know who his tribe is – and it isn’t the premiers and chief ministers | Katharine Murphy | Australia news | The Guardian
LNP Economic Management, LNP Government, Uncategorized

Coalition adds more debt in nine months than Labor did in under six years

THE MOST PROFOUND challenge arising from Australia becoming the worst developed country for government debt is not the economic hardship this will impose on those having to pay the interest and repay the principal. A more serious issue is that most citizens haven’t a clue what is actually happening.

Coalition adds more debt in nine months than Labor did in under six years
LNP, LNP Economic Management, LNP Government

Morrison’s China decree reeks of rash decision-making
Illustration: Jim Pavlidis

Morrison’s efforts to impress Trump is causing our chaos and his confusion and a lack of direction. He’s always tended to be a follower rather than a decisive leader a boat without a rudder and he seems to believe Trump is the answer. Canberra is now increasingly revealing itself to be what it has always been a Government in opposition. Working for themselves and not Australia. Frydenberg’s already “blaming” his economic failures on Victoria. The deaths encountered however have and will continue to be from the Commonwealth’s aged-care sector (ODT)

Ever got into a car and found a little way into the journey that the driver isn’t sure of the destination? Scott Morrison predictably won plaudits for his latest assault on China via new legislation that will empower him to cancel or veto agreements between state entities and foreign government organisations. China might be our biggest trading partner, but it is thoroughly on the nose in much of Canberra.

Morrison’s China decree reeks of rash decision-making

LNP, LNP Economic Management

Before Covid inflicted carnage, the Australian economy was struggling | Greg Jericho | Business | The Guardian
construction in Sydney

When everything is going downhill at speed it’s easy to pretend that beforehand everything was fine

Before Covid inflicted carnage, the Australian economy was struggling | Greg Jericho | Business | The Guardian
LNP, LNP Economic Management, LNP Tactics

ABC has for too long been unwilling to push back against interference – at its journalists’ expense

Our Democracy hinged on the ABC and it’s been eroded from outside and in and little is done about it, This alone is a reason to vote the LNP out. (ODT)

For those who watch the affairs of the ABC through the eyes of a critical friend, the removal of Emma Alberici, made public on August 21, is deeply disturbing. It is the climax to a destructive series of events that began more than two years ago and once again draws attention to two serious weaknesses in the ABC’s management arrangements.

ABC has for too long been unwilling to push back against interference – at its journalists’ expense
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LNP, LNP Economic Management, Uncategorized

No Sukkar for Labor over Liberal branch stacking revelations

Remember when branch stacking was the biggest scandal in Australian politics? Sure, at the time there were other, far greater, unresolved issues that the Federal Government should have been made to address, but, well, the Victorian Labor Party was involved in branch stacking! The PM said at the time: “Albanese has been totally burnt by this scandal … We’re fighting for jobs, they’re fighting each other.” The Labor Party was, he said, “absolutely at war” — and he did not stop there, adding for good measure, at his unctuous best:

No Sukkar for Labor over Liberal branch stacking revelations
LNP Economic Management, LNP Government, LNP Theft

Barnaby Joyce signed off $80m for Angus Taylor’s old company after zero was paid for same sort of water nearby – Michael West
Watergate Angus Taylor

Same water, same valuer, $80m and nought. The same type of water licences for irrigation properties near those for which the Coalition government paid $80 million in 2017 were valued at zero between 2008 and 2010, writes investigative reporter Kerry Brewster in this exclusive report.

Barnaby Joyce signed off $80m for Angus Taylor’s old company after zero was paid for same sort of water nearby – Michael West
LNP Economic Management, Uncategorized

You want a strong economy? Start by raising corporate taxes

Collect the taxes they haven’t paid. Remember Abbott shrunk the Taxation Dept of 3500 of it’s most experienced tax investigators. Well, now they have jumped the gutter and are working for the tax minimisation industry.(ODT)

via You want a strong economy? Start by raising corporate taxes

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LNP Economic Management, LNP Government, Uncategorized

‘Riddled with errors’: Paul Fletcher slams ABC fact check

Communications Minister Paul Fletcher.

When a Minister gets that flustered you know a nerve has been hit. (ODT)

The RMIT ABC Fact Check unit, funded jointly between the RMIT University and the ABC, describes itself as an “agenda-free zone” that does not allow staff of the unit to be members of political parties or activist groups.

via ‘Riddled with errors’: Paul Fletcher slams ABC fact check

LNP Economic Management, LNP Government, Uncategorized

Morrison’s COVID-19 Commission: Industry policy in reverse

 

We might best understand our current predicament via recourse to what the institutional economist James Galbraith terms a “predator state”. In such circumstances, one group feasts on what is on offer in a decaying system that once served broader interests. The predatory class may be opposed by others who also possess wealth, power and influence. However, a carefully constructed network built on political donations, ideological affinity and personal relationships produces an influence over the government that results in the interests of the predatory class prevailing.

via Morrison’s COVID-19 Commission: Industry policy in reverse

LNP Corruption, LNP Economic Management, LNP Government, LNP Policy, Uncategorized

Australia’s ‘Titanic’ economy is sinking

Creating the framework for monopolisation in a predator State(ODT)

Ultimately, a long term plan for sustainable economic growth and broader prosperity for the Australian public is required. Not a continued push for the Coalition to fulfil its ideological wish list as the economy continues to sink beneath the icy waves.

via Australia’s ‘Titanic’ economy is sinking

LNP Economic Management, LNP Government, Uncategorized

Poor decisions are wrecking Australia’s economy, not the virus

via Poor decisions are wrecking Australia’s economy, not the virus

LNP Corruption, LNP Economic Management, LNP Government, Uncategorized

Scott Morrison avoids scrutiny at time when he most warrants it

Illustration: Jim Pavlidis

via Scott Morrison avoids scrutiny at time when he most warrants it

LNP Economic Management, LNP Government, Uncategorized

In a world first, Australia plans to force Facebook and Google to pay for news (but ABC and SBS miss out)

The LNP Government pays the ABC less that’s why they don’t need more, But Murdoch gets the $40 mill bonus prize.Seems to me if the ABC isn’t included big tech will just publish the ABC won’t they? (ODT)

via In a world first, Australia plans to force Facebook and Google to pay for news (but ABC and SBS miss out)

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LNP Economic Management, LNP Government, Uncategorized

Morrison’s not doing nearly enough to secure our future

Treasurer Josh Frydenberg and Prime Minister Scott Morrison will need to spend more for longer.

via Morrison’s not doing nearly enough to secure our future

LNP, LNP Economic Management, Uncategorized

Pandemic ‘a smokescreen’ to ram through controversial mining projects like Santos gas in Narrabri – Michael West

Fracking, CSG

The independent hearings into one of the most controversial projects in NSW history, Santos’ coal seam gas dream for Narrabri, are wrapping up. Meanwhile, new NSW guidelines to fast-track developments look set to turn into a nightmare for community groups, writes Callum Foote.

via Pandemic ‘a smokescreen’ to ram through controversial mining projects like Santos gas in Narrabri – Michael West

LNP Economic Management, LNP Government, LNP Tactics, Uncategorized

Paid pandemic leave key to stem COVID-19 spread and unemployment

via Paid pandemic leave key to stem COVID-19 spread and unemployment

LNP Economic Management, LNP Government, Uncategorized

Australia the big winner from Trump’s disastrous trade wars

If Australia is leading the world in export growth, then where is all this wealth ending up? As shown in multiple publications, the large foreign mining companies and other big exporters seldom pay anywhere near the tax they should. There are no other mechanisms for retaining the vast wealth in Australia. So most of the wealth gets shunted straight offshore into tax havens or to make mega-rich foreigners richer still.

via Australia the big winner from Trump’s disastrous trade wars

LNP Economic Management, LNP Government, Uncategorized

The Slow Dismantling of Australia’s COVID-19 Security Net

via The Slow Dismantling of Australia’s COVID-19 Security Net

LNP Economic Management, Uncategorized

Nationalism really isn’t easy – » The Australian Independent Media Network

Frydenberg comes with hat in hand (ODT)

It seems that nationalism has a price. It also seems we aren’t necessarily ready to accept the price. To demonstrate the point, consider this

This week, Treasurer Josh Frydenberg called on industry and retail superannuation funds to invest more in Australian businesses, saying he “would like to see them both put to work on domestic infrastructure assets more than they have been”.

With most super funds carrying about 20 to 25 per cent of their investments in Australian companies, the Future Fund’s latest report on March 31 has it looking decidedly lean with only 6.1 per cent, or $9.87 billion, held in Australian shares.

One senior investment analyst — who asked not to be named — told The New Daily Mr Frydenberg should be asking Mr Costello “when is the Future Fund going to join Team Australia?”

The Future Fund holds more than $44 billion in global and emerging markets, while holding a cash balance of $15.59 billion or 9.6 per cent, and a similar amount in easily converted debt securities.

Its assets are designed to provide long-term investment in infrastructure, education, disability services, medical research and Indigenous services.

The Future Fund is Australia’s sovereign investment fund. Former Coalition Treasurer Peter Costello is the current Chairperson.

via Nationalism really isn’t easy – » The Australian Independent Media Network

LNP Economic Management, LNP Government, Uncategorized

Tottering small businesses need more than another loan guarantee scheme

Scott Morrison wants to support small business.

Morrison takes the credit for growing Small Business Debt and calling it a Stimulus  (ODT)

via Tottering small businesses need more than another loan guarantee scheme

LNP Economic Management, LNP Government, Uncategorized

Coalition trebles Labor’s debt – in triple-quick time

via Coalition trebles Labor’s debt – in triple-quick time

LNP Economic Management, Uncategorized

Are banks really going to revert to type and let struggling borrowers lose their homes? | Housing | The Guardian

a home for auction

via Are banks really going to revert to type and let struggling borrowers lose their homes? | Housing | The Guardian

LNP Economic Management, LNP Government, Uncategorized

Jobs, Jobs, Jobs or “More Miracles For Morrison!” – » The Australian Independent Media Network

While some people are mocking this focus on jobs, it’s worth remembering that the government promised that they’d be all about jobs and growth when they first came to power back in 2013… I know that it’s confusing because we have had three Prime Ministers, three Deputy PMs, three Treasurers and the occasional Science minister jumbled in with another portfolio such as Trade or the Arts, but it is all the same government. And yes, it does seem reminiscent of people who keeps changing their name in the hope that the lawsuits won’t catch up with them, but let’s give credit where credit is due… Of course, demand cash upfront from those shops who keep putting up the “Under New Management” sign every few weeks.

What’s the difference between JobMaker and JobTrainer, you ask? Is this another example of the government re-announcing something and acting like it’s new when there’s no substantial difference and no extra funding?

via Jobs, Jobs, Jobs or “More Miracles For Morrison!” – » The Australian Independent Media Network

LNP Economic Management, LNP Government, Uncategorized

Auditor-General ‘watergate’ report finds buyback scheme didn’t ensure value

Narran Lakes in May 2020, which has had the biggest inflow since 2013.

Dumb but legal clears Taylor but blames Joyce (ODT)

The most controversial buybacks were in 2017, in the so-called “watergate” deals worth $80 million with Eastern Australia Agriculture, in Queensland’s Condamine Balonne Catchment.

The buybacks were executed under then-water minister Barnaby Joyce, who faced criticism because the parent company Eastern Australia Irrigation was domiciled in the Cayman Islands, a known tax haven, and recorded a $52 million profit from the sale.

The watergate scandal featured during last year’s federal election campaign, with speculation over Energy Minister Angus Taylor’s role in the deal with Eastern Australia, where he was co-director until 2013 when he was elected to Parliament.

via Auditor-General ‘watergate’ report finds buyback scheme didn’t ensure value

LNP Economic Management, LNP Government, Uncategorized

Vulgar Militarism: Expanding the Australian War Memorial – » The Australian Independent Media Network

Following in the steps of Tony Abbott a Billion will have been spent on the mythologising ou boys own wars. Add to that the subs and othey toys deemed essential and the cuts to welfare who is this LNP government working for?

Stokes may have a point. War, packed with its uniforms and lethal toys, is vulgar. This project, should it be envisaged in the form Nelson intended it, promises to be the most vulgar of all. Commemorative solemnity has its role, but Australia’s ruling classes have little intention to pause and reflect about the losses the country has either endured or inflicted over the short existence of the Commonwealth. With money being poured into a delusionary defence budget to fight fictional enemies, the distasteful cinematic joke of healing veterans by reminding them of their weapons of death and destruction seems aptly grotesque.

via Vulgar Militarism: Expanding the Australian War Memorial – » The Australian Independent Media Network

LNP Economic Management, LNP Government, Uncategorized

Morrison Government forges ahead with penalty rate cuts

via Morrison Government forges ahead with penalty rate cuts

LNP Economic Management, LNP Government, Uncategorized

A Savage Call: energy tsar calls time on Australia’s gas cartel – Michael West

Clare Savage, AER

The Government and its Covid Commission are pushing a $6 billion gas pipeline while new energy regulator, Clare Savage, calls into question the future of the gas networks. Meanwhile Australians still pay more for gas than customers overseas pay for Australian gas. Michael West reports on the momentous upheaval in energy.

It is one short sentence but a sentence with remarkable implications for the nation:

“If not, the economic life of the assets could be limited.”

The new chair of the Australian Energy Regulator, Clare Savage, is saying that if the gas transmission networks do not convert to hydrogen, these assets may be stranded; that’s many billions of dollars in gas pipelines stranded.

“She is calling time on a multi-billion dollar industry,” says energy analyst Bruce Robertson.

The candid assessment from Clare Savage is even more remarkable considering the Government, with the connivance of its Covid-19 Commission, is pushing plans to build a $6 billion gas pipeline from Western Australia to the East Coast.

via A Savage Call: energy tsar calls time on Australia’s gas cartel – Michael West

LNP, LNP Economic Management, Uncategorized

Australia could create hundreds of thousands of jobs by accelerating shift to zero emissions – report | Environment | The Guardian

A report by Beyond Zero Emissions has found hastening the shift to zero greenhouse gas emissions could help Australia recover from the recession.

It can’t do the same with fossil fuels or for the betterment of the nation (ODT)

via Australia could create hundreds of thousands of jobs by accelerating shift to zero emissions – report | Environment | The Guardian

LNP, LNP Corruption, LNP Economic Management, Uncategorized

SEC Regulators: Private Equity Is on a Crime Spree

LNP has plans to offer superfund management totally to Private Equity firms despite the fact Trade Unions have provided their members with the best outcomes and lowest fees. (ODT)

via SEC Regulators: Private Equity Is on a Crime Spree

LNP Economic Management, Uncategorized

First step to economic recovery is a change in political thinking

via First step to economic recovery is a change in political thinking

LNP Economic Management, LNP Government, Uncategorized

Is the Morrison Government driving the economy off a cliff?

via Is the Morrison Government driving the economy off a cliff?

LNP, LNP Economic Management, Uncategorized

The secret behind the booming stock market in the face of the coronavirus crisis – ABC News

Australian currency is seen next to a wages graph

American Economy is in Intensive Care (ODT)

But with rates now at zero, money printing — or quantitative easing as it is called in polite circles — is all they have left.

It’s cash that’s being created out of thin air.

And a huge portion of it is being poured straight into stock markets regardless of what is happening out there in the real world.

The graph above tells the story. In the past few months, America’s central bank has bought more than $US3 trillion ($4.37 trillion) worth of “assets”.

These include US government debt, mortgage debt and other debt securities, using cash it has generated out of thin air, simultaneously driving interest rates down and flooding the economy with cash.

It has spent more than double the amount outlaid at the height of the global financial crisis. And, it appears, we’ve only just begun.

The biggest side effect, however, is that wealth becomes more concentrated among the already wealthy.

If you own a house or stocks or bonds, you’ve become rich without even trying.

 

via The secret behind the booming stock market in the face of the coronavirus crisis – ABC News

LNP, LNP Economic Management, LNP Policy, Uncategorized

Trump and Morrison: A love affair imperiling Australia’s future

On the other hand, as China increasingly looks to be more self-sufficient in food and raw materials, Australia will be first in line to disappear from China’s supply chain.

Australia is a country which has little interest in being an independent nation and therefore is in a paralysed state of infantile dependence, incapable of looking after itself. 

“Constructive discussions” with Trump is a moronic concept, if not oxymoronic

via Trump and Morrison: A love affair imperiling Australia’s future

LNP Economic Management, Uncategorized

Norway v Australia: crisis makes the case for a sovereign wealth fund incontestable

Australia is under-funded

via Norway v Australia: crisis makes the case for a sovereign wealth fund incontestable

LNP Economic Management, LNP Government, Uncategorized

Missing bushfire relief millions could be another government scandal

via Missing bushfire relief millions could be another government scandal

LNP Economic Management, Uncategorized

Minerals Council demands “reform” while its members pay little or no tax – Michael West

Screenshot_2020-06-05 Minerals Council demands reform while its members pay little or no tax - Michael Westvia Minerals Council demands “reform” while its members pay little or no tax – Michael West

LNP Economic Management, Uncategorized

Pandemic reveals Australia vulnerable from narrow, fragile manufacturing base

In the technology sector, sleep apnea company ResMed and hearing implant maker Cochlear dominate their global niches, while tna Solutions is a global success story in the manufacture of food machinery.

But to make more of the enormous potential of Australian manufacturing, our policy settings need a complete reset.

We can no longer rely on our natural comparative advantaged in raw materials for prosperity, or even for survival. We must build national competitive advantages.

And that means we have to learn to make things again.

via Pandemic reveals Australia vulnerable from narrow, fragile manufacturing base

LNP Economic Management, LNP Government, Uncategorized

Will the passage from JobKeeper to JobMaker finish at JobSeeker? – Michael West

Will the passage from JobKeeper to JobMaker finish at JobSeeker? – Michael West

LNP Economic Management, LNP Government, Uncategorized

Morrison funds new kitchens — slashes unemployment benefits

via Morrison funds new kitchens — slashes unemployment benefits

LNP Economic Management, LNP Government, Uncategorized

Government to repay 470,000 unlawful robodebts in what might be Australia’s biggest-ever financial backdown

Biggest ever has been accomplished by this LNP, Biggest budget error. Biggest turnaround, what next? (ODT)

via Government to repay 470,000 unlawful robodebts in what might be Australia’s biggest-ever financial backdown

LNP Economic Management, LNP Government, Uncategorized

Neoliberalism is dashing all hopes of a post-COVID-19 utopia

via Neoliberalism is dashing all hopes of a post-COVID-19 utopia

LNP Economic Management, LNP Government

‘Green light to hide information’: Australia’s recovery at risk from company disclosure changes | Business | The Guardian

A silhouette of a man in a suit outside a building

In a seven-paragraph press release issued late on Monday afternoon, Frydenberg said the change would protect companies from “opportunistic class actions” during the coronavirus crisis and allow them to raise much-needed capital. But experts say there is no evidence any such problem exists.

Labor also slammed the move for undermining confidence in the markets.

The change, which followed heavy lobbying by industry groups, is supposed to last for six months, but there are already calls for it to be made permanent.

It drew immediate fire from class-action lawyers, who described it as “cronyism” and a “green light for company directors to hide information from the people who actually own a company”.

 ‘Green light to hide information’: Australia’s recovery at risk from company disclosure changes | Business | The Guardian

LNP Economic Management, LNP Government, Uncategorized

Younger and poorer: The people locked out of JobKeeper

Prime Minister Scott Morrison

This man calls for co-operation and sharing the load but locks out 1.5 mill workers.(ODT)

via Younger and poorer: The people locked out of JobKeeper

LNP Economic Management, LNP Government, LNP Policy, Uncategorized

Taylor stares down objections to carbon capture schemes in $2 billion fund

Energy Minister Angus Taylor will fast track changes to regulations to allow funding of carbon capture and storage projects.

 

Energy Minister Angus Taylor will fast-track changes to a $2 billion climate fund as he rejects furious criticism of a new plan to spend its cash on carbon capture and storage projects.

Mr Taylor called on the government’s critics to give up their “ideology” in opposing the controversial projects and said he would consider putting changes to the Parliament to overcome their objections.

via Taylor stares down objections to carbon capture schemes in $2 billion fund

LNP Economic Management, LNP Government, Uncategorized

Morrison picks fight with China — Australia left holding the barley

via Morrison picks fight with China — Australia left holding the barley

LNP Economic Management, Uncategorized

Government’s COVID Commission manufacturing plan calls for huge public gas subsidies – ABC News

Coal seam gas drill rig in the Pilliga.

via Government’s COVID Commission manufacturing plan calls for huge public gas subsidies – ABC News

LNP Economic Management, LNP Government, Uncategorized

Government’s tech roadmap reveals its talent for wasting time

Prime Minister Scott Morrison at the Snowy Hydro power station in Tumut.

Government’s tech roadmap reveals its talent for wasting time

LNP Economic Management, LNP Government, Uncategorized

Morrison government dangles new carrots for industry but fails to fix bigger climate policy problem

Abolishing Australia’s carbon pricing mechanism in 2014 was a consequential failure of politics. The fine-tuning of the patchwork of policies that followed does not make up for it.

via Morrison government dangles new carrots for industry but fails to fix bigger climate policy problem

LNP Economic Management, LNP Government, Uncategorized

Defence spending continues to rocket in spite of coronavirus recession

Defence spending continues to rocket in spite of coronavirus recession

via Defence spending continues to rocket in spite of coronavirus recession