Budget 2014 (1 Viewer)

[trungduong12]

if ur doing economic, theres lots to write in essay about this budget. >.<
hate this gov.

 

[Drifting95]

For everyone who is whinging about the university deregulation, please read through the official govt site before blurting out misinformed opinions influenced by social media.

http://studyassist.gov.au/sites/studyassist/helpfulresources/pages/studentoverview_budget2014

- If you're currently studying, you WILL NOT experience the fee increase (unless your degree continues beyond 2020)
- HELP-FEE (HECS) will be indexed to govt bonds instead of CPI. This does NOT mean the interest rate will be 6% pa, the 6% pa is the maximum that can be charged and currently the 10 year govt bond rate is 3.84%. This will be implemented from 2016 onwards to all students with HECS.

 

[obliviousninja]

For everyone who is whinging about the university deregulation, please read through the official govt site before blurting out misinformed opinions influenced by social media.

http://studyassist.gov.au/sites/studyassist/helpfulresources/pages/studentoverview_budget2014

- If you're currently studying, you WILL NOT experience the fee increase (unless your degree continues beyond 2020)
- HELP-FEE (HECS) will be indexed to govt bonds instead of CPI. This does NOT mean the interest rate will be 6% pa, the 6% pa is the maximum that can be charged and currently the 10 year govt bond rate is 3.84%. This will be implemented from 2016 onwards to all students with HECS.

Preech it sistar

Sent from my GT-I9506 using Tapatalk

 

[SylviaB]

How to tell if someone has read the budget: If they use words like "tough" and "huge cuts", the answer is no.

 

[BLIT2014]

Wouldn't want to be under 30 and becoming unemployed :O

 

[OzKo]

whats it mean then? Please explain

HECS isn't been abolished.

You only start paying off your debt when you reached a certain level of income. The poorest of the poor can still afford to go to uni because of HECS and will only start paying it off when they can afford it.

 

[nerdasdasd]

HECS isn't been abolished.

You only start paying off your debt when you reached a certain level of income. The poorest of the poor can still afford to go to uni because of HECS and will only start paying it off when they can afford it.

This

 

[nerdasdasd]

bro its true that a budget deficit is not the best situation, but he's making cuts and making education more expensive. If helping the generation means more young people that cant afford uni doing tradie work rather than affording a quality education then fk me. And its not just education, the GP payment, cuts for pension, increasing retirement. Whens the next election man? sack this shit kient

He is making cuts so that we can pay back the deficit.

Labour's rate of spending was far too unsustainable.

 

[nerdasdasd]

Well how would you expect our economy to be strong if we don't slowly move the budget to a surplus?

Indicators of an economy's strength are:
Inflation
Unemployment rates
Exports
Imports
GDP

 

[SylviaB]

goodbeye everyone it was nice to know you but we are all dead now thanks to the budget killing everyone bye

 

[isildurrrr1]

The increase in defense spending seems unnecessary, especially if it is so important for us to get back into a surplus. The paid parental leave scheme is just stupid, the government wants to decrease government regulation and increase the input of the market yet all they are doing is spoon feeding mothers, especially those who already earn middle to high incomes. Another big problem is the $7 for GP visits which will hurt those with low SES and put more burden on the already over crowded public hospitals and emergency waiting rooms. I'm all for medical research but $20 billion seems too much if we have a budget crisis, should be more like half that.

Budget is pretty bad for young people: dergulation of uni fees, unemployed waiting period and in 20 years time our generation will have to be paying out of our arses for the Baby boomers on pensions.

It's not an increase. It's a bounce back to what we should have spent in the first place. 1.8% of GDP is laughable at best when everyone in our region is doing at least 3-5%+ Those f35s were already a deal done by labour so anyone bitching should blame labour if they want. It's a STRATEGIC purchase. Our #1 foreign policy objective is to keep the US military active in the asia-pacific region. 26 Billion for fancy jets and a US commitment is pretty cheap in overall objective.

People crying at this budget don't even actually look at the numbers besides scare tactics. 7 dollar GP fee is NOTHING compared to the rest of the world. If you're on low income it doesn't really affect you since you would have a low-income healthcare concession card. shit everywhere else in the world has a GP fee. no such thing as a free lunch and it's great that a lot of the money is going to medical research.

One criticism i'd have for the government is that if they truly want to be known as an infrastructure based government, they'd should bring the NBN in full force.

 

[think]

It's not an increase. It's a bounce back to what we should have spent in the first place. 1.8% of GDP is laughable at best when everyone in our region is doing at least 3-5%+ Those f35s were already a deal done by labour so anyone bitching should blame labour if they want. It's a STRATEGIC purchase. Our #1 foreign policy objective is to keep the US military active in the asia-pacific region. 26 Billion for fancy jets and a US commitment is pretty cheap in overall objective.

People crying at this budget don't even actually look at the numbers besides scare tactics. 7 dollar GP fee is NOTHING compared to the rest of the world. If you're on low income it doesn't really affect you since you would have a low-income healthcare concession card. shit everywhere else in the world has a GP fee. no such thing as a free lunch and it's great that a lot of the money is going to medical research.

One criticism i'd have for the government is that if they truly want to be known as an infrastructure based government, they'd should bring the NBN in full force.

Everyone in the region is doing 3-5% of GDP for defense? Source? seriously where did you get this information from. Australia’s spending is well within line with what other countries are doing, countries like Japan and New Zealand are only spending about 1% each. And in 2013 we had the 13th highest spending overall (in terms of $US) for defense. Sure we want the US to stay involved in the region but ‘fancy jets’ aren’t really going to do anything in the case of an invasion. Even if we were invaded everyone knows the US would come to the rescue anyway, they have the world’s biggest defense budget and are essentially the world police.
As for the GP fee sure $7 may not seem like much for you and me but for those with young families, young unemployed and indigenous Australians in rural/remote areas it is going to seem like a lot. Even those that have concessions will have to pay for the first 10 visits to a GP each calendar year (afaik). And when did a majority doing something make it the best option. So what if the rest of the world makes people pay for health care. Access to Free healthcare for everyone is one of the things that made Australia great and made us stand out even from other developed nations. Like I said before medical research is great but the spending just doesn’t make that much sense relative to the rest of the health budget and after the announcement of $80 billion dollar cuts to health and education. I understand the government wants to move more towards prevention's and vaccines and away from physical cures but at the moment that spending for treatments is still needed.
I agree with you about the NBN but if the government wants a surplus it doesn’t seem viable unless there are even more cuts.

 

[obliviousninja]

Stop the boats

Sent from my GT-I9506 using Tapatalk

 

[OzKo]

Indicators of an economy's strength are:
Inflation
Unemployment rates
Exports
Imports
GDP

 

[isildurrrr1]

Everyone in the region is doing 3-5% of GDP for defense? Source? seriously where did you get this information from. Australia’s spending is well within line with what other countries are doing, countries like Japan and New Zealand are only spending about 1% each. And in 2013 we had the 13th highest spending overall (in terms of $US) for defense. Sure we want the US to stay involved in the region but ‘fancy jets’ aren’t really going to do anything in the case of an invasion. Even if we were invaded everyone knows the US would come to the rescue anyway, they have the world’s biggest defense budget and are essentially the world police.
As for the GP fee sure $7 may not seem like much for you and me but for those with young families, young unemployed and indigenous Australians in rural/remote areas it is going to seem like a lot. Even those that have concessions will have to pay for the first 10 visits to a GP each calendar year (afaik). And when did a majority doing something make it the best option. So what if the rest of the world makes people pay for health care. Access to Free healthcare for everyone is one of the things that made Australia great and made us stand out even from other developed nations. Like I said before medical research is great but the spending just doesn’t make that much sense relative to the rest of the health budget and after the announcement of $80 billion dollar cuts to health and education. I understand the government wants to move more towards prevention's and vaccines and away from physical cures but at the moment that spending for treatments is still needed.
I agree with you about the NBN but if the government wants a surplus it doesn’t seem viable unless there are even more cuts.

Gee I don't know, guess you missed out Indonesia, Malaysia, Singapore, Thailand as being in our region, not to mention a rapidly rising China. You know why we buy American military equipment? Interoperability. That's all. That's why we buy Abram's tanks, wear multicam uniform (in a-stan), us ASLAVs and use their artillery pieces.

http://www.defence.gov.au/dio/documents/DET_11.pdf

Defence spending isn't even that high, and there's more to the US staying in asia pacific than "invasion of Australia." What do you think will happen if Asia-pacific powers get into a pissing match and shut down trade routes? What do you think happens to our imports and exports?

If you can't save 70 dollars a year for medical services, there's something seriously wrong with you. Even in overseas country the POOREST OF THE POOR still pay WAY MORE for GP services than we do. People just don't realize how much of a free ride us Aussie's have had recently. We cannot afford an overblown budget in health. Do you want to face a near
bankruptcy of the NHS in the UK? http://www.telegraph.co.uk/health/nhs/10387187/NHS-faces-bankruptcy-over-ageing-population.html

Young unemployed my ass. Go get a job at mcdonalds or retail or anything else in the mean time of you trying to find a normal workplace. There's plenty of work around it's just people are too proud to step "beneath" their level. Centre link should be gutted anyway and so are family tax benefits. might as well have an overall tax cut in lieu of welfare benefits. We spend half of our budget on welfare it's just so stupid that half of Austrlian families don't pay any net taxes. omg im gonna cry i can't get bennies on my 180k a year salary waaaaaah. maybe stop going on holidays all the time. It's the excess of materialism that's making people bitch and moan and moan and bitch. The cuts aren't even that harsh, its all me me me me me and expect the government to pick up your slack.

I think if your family can afford to send you to uni, HECS shouldn't be available anyway. Parents should pick up the tab not the taxpayers, those programs are for the disadvantaged and not for middle class welfare.

 

[think]

Gee I don't know, guess you missed out Indonesia, Malaysia, Singapore, Thailand as being in our region, not to mention a rapidly rising China. You know why we buy American military equipment? Interoperability. That's all. That's why we buy Abram's tanks, wear multicam uniform (in a-stan), us ASLAVs and use their artillery pieces.

http://www.defence.gov.au/dio/documents/DET_11.pdf

Defence spending isn't even that high, and there's more to the US staying in asia pacific than "invasion of Australia." What do you think will happen if Asia-pacific powers get into a pissing match and shut down trade routes? What do you think happens to our imports and exports?

If you can't save 70 dollars a year for medical services, there's something seriously wrong with you. Even in overseas country the POOREST OF THE POOR still pay WAY MORE for GP services than we do. People just don't realize how much of a free ride us Aussie's have had recently. We cannot afford an overblown budget in health. Do you want to face a near
bankruptcy of the NHS in the UK? http://www.telegraph.co.uk/health/nhs/10387187/NHS-faces-bankruptcy-over-ageing-population.html

Young unemployed my ass. Go get a job at mcdonalds or retail or anything else in the mean time of you trying to find a normal workplace. There's plenty of work around it's just people are too proud to step "beneath" their level. Centre link should be gutted anyway and so are family tax benefits. might as well have an overall tax cut in lieu of welfare benefits. We spend half of our budget on welfare it's just so stupid that half of Austrlian families don't pay any net taxes. omg im gonna cry i can't get bennies on my 180k a year salary waaaaaah. maybe stop going on holidays all the time. It's the excess of materialism that's making people bitch and moan and moan and bitch. The cuts aren't even that harsh, its all me me me me me and expect the government to pick up your slack.

I think if your family can afford to send you to uni, HECS shouldn't be available anyway. Parents should pick up the tab not the taxpayers, those programs are for the disadvantaged and not for middle class welfare.

None of the countries you mentioned apart from Singapore have defense spending of over 3% like you stated previously. China does have much more defense spending than Australia but in terms of GDP it is only about 2%. Of course they are going to have much higher spending than us they have the biggest population in the world, very high rates of growth and one of the biggest economies in the world.

The real economic costs will likely be far more than just $70 when you consider the other cuts to health. What about people who have to take up private health insurance because what they need is no longer included under medicare? What about the increase in specialist costs? What about the extra costs for blood tests, X-rays etc.? There will be an increase in costs in healthcare overall. Private health insurance will cost far more than $70 and others will simply not be able to afford it. Yes we don’t want an overblown health budget and it is likely to remain a serious problem in the future particularly with the aging population. But the thing is most of the money collected is supposed to go straight into the medical research fund with the rest of the money only saving the government $3.5 billion over 5 years. What will the government actually be doing with that fund? http://www.news.com.au/finance/econ...feared-illnesses/story-fn84fgcm-1226916520452 Really not that much, most of it will sit in the bank with only 1% of the 20 billion being added on top of funding already in place. The government aren’t going to remove the $7 fee now but they should consider it because the fees are both politically unpopular and won’t actually have that much of an economic benefit.

The employment market is isn't always easy to crack into for both those with degrees/higher education and those without. There are people out there who have degrees have experienced/internships and do community work and still can’t get positions because they are unable to – there just aren’t any jobs. It’s easy to say just go to maccas and get a job but who wants to work there for the rest of their life, especially if you are overqualified and want to contribute something more productive/meaningful. On the other side of the spectrum some people don’t even have the skills to get these entry level jobs and are pretty much stuck with nothing. If you consider the median wait for jobs that most people have after they leave school or get a degree – 4 months (17 weeks) – that is now going to be at least 4 months of no income unless they have a supportive family and then another 2 months wait for newstart if they don’t have a family/find a job.
http://www.news.com.au/finance/econ...-graduates/story-fn84fgcm-1226917884914?pg=1#
http://www.smh.com.au/federal-polit...e-into-ghettos-of-poverty-20140514-zrcgq.html

A cut to welfare? That’s why the government is still trying to introduce the PPL which was originally one of the biggest pieces of middle class welfare Australia has ever seen (they have now scaled it back from $150,000 to $100,000 incomes). But it is still a huge scheme that will be introduced and has been hardly talked about. The funding for PPL from the 3000 companies should instead be going to those that need it most, rather than where it is now.

 

[rawrliongirl]

someone told me theyre getting rid of HECS?

 

[nerdasdasd]

someone told me theyre getting rid of HECS?

Noooo

They are just reducing the income threshold required before you start paying the debt back.....

So ... It used to be an income of 53k before you had to start paying it back

It will change to 50k in 2016

 

[Axio]

Cutting carbon tax and mining tax!!

Cutting the carbon tax is debatable but the mining tax didn't make any money... it in fact LOST MONEY! Who the hell makes a tax that is more expensive to run than the revenue it receives....... Oh right the Labor Party

 

[isildurrrr1]

None of the countries you mentioned apart from Singapore have defense spending of over 3% like you stated previously. China does have much more defense spending than Australia but in terms of GDP it is only about 2%. Of course they are going to have much higher spending than us they have the biggest population in the world, very high rates of growth and one of the biggest economies in the world.

The real economic costs will likely be far more than just $70 when you consider the other cuts to health. What about people who have to take up private health insurance because what they need is no longer included under medicare? What about the increase in specialist costs? What about the extra costs for blood tests, X-rays etc.? There will be an increase in costs in healthcare overall. Private health insurance will cost far more than $70 and others will simply not be able to afford it. Yes we don’t want an overblown health budget and it is likely to remain a serious problem in the future particularly with the aging population. But the thing is most of the money collected is supposed to go straight into the medical research fund with the rest of the money only saving the government $3.5 billion over 5 years. What will the government actually be doing with that fund? http://www.news.com.au/finance/econ...feared-illnesses/story-fn84fgcm-1226916520452 Really not that much, most of it will sit in the bank with only 1% of the 20 billion being added on top of funding already in place. The government aren’t going to remove the $7 fee now but they should consider it because the fees are both politically unpopular and won’t actually have that much of an economic benefit.

The employment market is isn't always easy to crack into for both those with degrees/higher education and those without. There are people out there who have degrees have experienced/internships and do community work and still can’t get positions because they are unable to – there just aren’t any jobs. It’s easy to say just go to maccas and get a job but who wants to work there for the rest of their life, especially if you are overqualified and want to contribute something more productive/meaningful. On the other side of the spectrum some people don’t even have the skills to get these entry level jobs and are pretty much stuck with nothing. If you consider the median wait for jobs that most people have after they leave school or get a degree – 4 months (17 weeks) – that is now going to be at least 4 months of no income unless they have a supportive family and then another 2 months wait for newstart if they don’t have a family/find a job.
http://www.news.com.au/finance/econ...-graduates/story-fn84fgcm-1226917884914?pg=1#
http://www.smh.com.au/federal-polit...e-into-ghettos-of-poverty-20140514-zrcgq.html

A cut to welfare? That’s why the government is still trying to introduce the PPL which was originally one of the biggest pieces of middle class welfare Australia has ever seen (they have now scaled it back from $150,000 to $100,000 incomes). But it is still a huge scheme that will be introduced and has been hardly talked about. The funding for PPL from the 3000 companies should instead be going to those that need it most, rather than where it is now.

Defence

We have to make our military commitments to our allies, namely the US. Were investing in defence because people keep forgetting the last time Australia relied on someone else for its defence (UK), they had to scale back after the fall of singapore leaving us VERY vulnerable. I'd rather us have a forward defence policy and neutralize threats before they even threaten us, at home and abroad.

Healthcare

who do you think provides healthcare facilities? It's not the federal government. It's the state government's responsibility in the first place. You really think those who are on low-income won't get the support they need? as I said before, low income health cards ALLOW YOU to get your specialist, dentists, optomotrists fees BILLED to the government. $7 dollars isn't really that much for health care. Are you really going to bitch about what effectively is half a labour hour on minimum wage for healthcare? Ever heard of a moral hazard? Since your spending someone else money on healthcare, you don't feel the effect of the costs.

employment

Welcome to life. Nothing is ever easy and you do realize Australia is one of the least productive country in the world right? You really don't think people have any job mobility at all? Nobody said work at maccas for the rest of your life. Stop being so proud and work entry level jobs even if they're shit. If you take a degree because of a career path, you shouldn't be in uni in the first place. Universities are places of education and learning, not to churn out employment skills.

I'm currently at uni and I'm working part time. Once I'm finished I'd move onto a full time salary. Jobs already lined up and most people in university don't take the time to get job offers BEFORE they graduate. You don't graduate and sit and wait for a job. You should have done it before hand. Not getting your dream job? Boo hoo me neither, go work at retail or hospitality, they pay decent enough for you to hold over into your career path. Or stop looking at Australia, there's plenty of jobs overseas if you're willing to look for them.

Carbon Tax

I'm surprised no hippie left wing environmentalist have praised Tony Abbot for the fuel excise. It's the same shit as a carbon tax but even more effective as it directly targets fuel consumption. And you guys do realize the carbon tax was so ineffective that companies were getting tax benefits for the pollution they produced. It's funny because people don't realize how much pollutants the agricultural industry uses but nobody is going to bitch at farmers.