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Contemporary Issues: the 2005/2006 federal budget (1 Viewer)
- Thread starter yakuza_69
- Start date
~ ReNcH ~
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I personally haven't received such an assignment, but I'd presume that you'd discuss the issues arising from the budget and hence their implications for the economy e.g. tax cuts, decreased disability/invalid pensions, funds for the aging population (Future Fund) etc.
nanashi
Member
- Joined
- Jun 20, 2005
- Messages
- 68
- Gender
- Male
- HSC
- 2005
u should talk about what the government is trying to do with this budget to improve the economy and economic acticity, what they did to try to achieve this, and the actual impacts on the economy and society. you might want to evaluate the impacts of the budget as well
*Ya_So_CuTe*
Member
we had a similar task! 
and i screwed it because of poor time management but u should look at
1)what budget outcomes the government has actually proposed ,
2)Why they have proposed them and
3)the effects upon indicators such as: inflation, unemployment, interest rates also international competiveness and external stability
E.G Tax Cuts - More to the wealthier- Refer to Keynesian theory of those with higher incomes having a higher marginal prospensity to save. Why?- To increase domestic savings as means of trying to improve further C.A.D blowout Effects= Inflation is set to increase in the short term due to increased funds in the circular flow but will remain steady in the R.B.A's target band of 2-3%. ( Also note that the government is gradually phasing in the move to increase the top tax bracket over 2 years to minimise inflationary impacts.
Welfare to Work: Australia has lowest level of generational unemployment ( was at 5.1% Budget time, Recent figures show that it is now 5%). Why?This means that the government was aiming to reduce hidden unemployment and deal with doll bludgers. Effect= Increased workforce participation rate= Increased productivity , leading to higher economic growth..
etc etc... make sure ur analytical and not just repeating the facts and you'll do awesome! JUST MANAGE UR TIME! hehe, first time i'd cracked under time pressure. better now than in the real thing i guess!
and i screwed it because of poor time management but u should look at
1)what budget outcomes the government has actually proposed ,
2)Why they have proposed them and
3)the effects upon indicators such as: inflation, unemployment, interest rates also international competiveness and external stability
E.G Tax Cuts - More to the wealthier- Refer to Keynesian theory of those with higher incomes having a higher marginal prospensity to save. Why?- To increase domestic savings as means of trying to improve further C.A.D blowout Effects= Inflation is set to increase in the short term due to increased funds in the circular flow but will remain steady in the R.B.A's target band of 2-3%. ( Also note that the government is gradually phasing in the move to increase the top tax bracket over 2 years to minimise inflationary impacts.
Welfare to Work: Australia has lowest level of generational unemployment ( was at 5.1% Budget time, Recent figures show that it is now 5%). Why?This means that the government was aiming to reduce hidden unemployment and deal with doll bludgers. Effect= Increased workforce participation rate= Increased productivity , leading to higher economic growth..
etc etc... make sure ur analytical and not just repeating the facts and you'll do awesome! JUST MANAGE UR TIME! hehe, first time i'd cracked under time pressure. better now than in the real thing i guess!