Tag: ALP Government,

Labor says new five-year funding for ABC will safeguard against arbitrary cuts and political interference | Australian Broadcasting Corporation | The Guardian

Australia’s communications minister Michelle Rowland outside the ABC headquarters in Sydney

Is the ALP government really ABC friendly or just better than the last mob?

In an interview with Guardian Australia on the eve of the ABC’s 90th birthday, Rowland said the Coalition “completely lied” about not cutting ABC funding in 2013 and the broadcaster had been harmed as a result. But she stopped short of agreeing with Kevin Rudd that the ABC had been “tamed” by cuts and incessant attacks.

Source: Labor says new five-year funding for ABC will safeguard against arbitrary cuts and political interference | Australian Broadcasting Corporation | The Guardian

Bank for International Settlements warns global economy is ‘flashing red’

Australians who took large mortgages during the pandemic could be among the most exposed in the world as central banks drive up interest rates to stop inflation.

Just over a month ago, Josh Frydenberg was telling us just how good Australia’s fundamentals were looking. The LNP was the best economic manager. Well, that’s proved to be rubbish. However, now the LNP is already declaring the ALP’s honeymoon period over and blaming them for the immediate turnaround or revelations about the economy. The books are being audited and were found the story is in fact quite the opposite to what Morrison and Frydenberg had been selling but much closer to what the ALP have been saying all along. The facts aren’t what we have been told. The question now is who is going to pay?

Global economic indicators are flashing red with a real risk of stagflation, one of the world’s most senior economists has warned, and highly indebted Australians are among the most exposed to rising prices and slowing growth.

Source: Bank for International Settlements warns global economy is ‘flashing red’

Three things Labor should reconsider – » The Australian Independent Media Network

There are three things that Labor should reconsider.

1 they should increase income support payments.

2 they should scrap the stage 3 tax cuts.  With inflation on the rise, we certainly don’t need to give rich people more money.

They should revisit the taxation reform Tax concessions on property investment have fuelled the housing crisis – start there.

3 Labor should do a complete review of defense spending. We are wasting hundreds of billions of dollars on last century’s weapons of war. Cyber security, robotics, and autonomous systems, communications, international regulatory bodies, foreign aid, trade, and diplomacy will be far more important than accumulating manned tanks and submarines.

Governments,, have to be flexible enough to respond to changing circumstances.

Source: Three things Labor should reconsider – » The Australian Independent Media Network

Who is it that can’t manage money? – » The Australian Independent Media Network

If only we had of voted Morrison in we’d have never known

“The economy was weaker in the March quarter than was forecast at election time.

“Growth at 0.8 per cent was…much weaker than what was expected for the corresponding period in the pre-election fiscal outlook”.

He added: “Consumption, dwelling investment, new business investment export and the nominal GDP were all weaker in the March quarter than was anticipated by our predecessors in the Budget and by the departments at PFO.”

“Although the national accounts are notoriously backward looking, if you think about what has happened in the economy since the end of March: inflation is higher, we have had an interest rate hike, petrol prices are up 12 per cent since the end of April, wholesale electricity prices are up 237 per cent since the end of March, and gas more than 300 per cent higher than the average of the last few years.”

Robust in parts, resilient in parts, but with rising inflation, chickens coming home to roost, and a perfect storm of energy rate spikes.

Who is it that can’t manage money?

 

 

Source: Who is it that can’t manage money? – » The Australian Independent Media Network