Featured Services: Asbestos Removal, CNC Machining & Milling, Commercial Electricians, Crane Hire, Electronic Design & Engineering, Fire Safety & Protection , Forklift Training & Licences, HVAC Cleaning, Industrial Design, Office Fitouts, Plumbing, Road Freight, Safety Consultants, Sheetmetal Fabrication, Structural Engineering, Warehousing & Distribution, Welding Services
Try achieving surplus during GFC, PM challenges oppn
07/02/2013 - Prime Minister Julia Gillard has challenged the opposition to show how it would have achieved budget surpluses during the global financial crisis.
Find related suppliers
Shadow treasurer Joe Hockey asked how — with tax revenue $18 billion higher than forecast in the dark days of the global financial crisis — the government could break its budget surplus promise because it was not collecting enough tax from Australians.
Gillard told parliamentary question time on Wednesday that if the shadow treasurer looked at the latest 2012/13 mid-year budget review, he'd see government revenues as a percentage of gross domestic product (GDP) were the lowest since the 1990s.
Opposition Leader Tony Abbott said tax revenue was higher under this government than it had been at any time under the Howard government.
Gillard again disagreed, saying tax revenues as a percentage of GDP were lower.
"We know the leader of the opposition does not like to confront facts which don't reinforce his prejudices," Gillard said.
She said revenues had suffered write-downs because of the biggest economic crisis since the Great Depression.
She said the line of questioning suggested the opposition believed that if it had governed during the GFC it could have produced a surplus every year.
"Well, if the shadow treasurer and the leader of the opposition truly think that is the position ... there is no reason at all tomorrow they can't walk into this parliament and table what they would have done in that situation," she said.
"If they don't do that, let's not hear this nonsense ever again."
Browse the IndustrySearch directory: Business Finance & Insurance
Kermit | 7/02/2013 09:36 1
When the answer to all our budget issues is to just borrow more money it is not surprising Jul-liar has budget issues. There is a phenomena called long term planning and developing infrastructure and wealth development strategy that help alleviate this, unfortunately the population insists on voting in these short term losers to cause us long term pain. Maybe when Liberal gets back into power later this year they will be reminded that we can have a vibrant economy and long term wealth and security (again). Labor are just there for their own personal glory with no vision and no idea of running a country. No disrespect intended girls, but a "mother's club" could manage the country better!
Ken Goldsmith | 7/02/2013 10:22 2
For a start, the Libs would NOT have run the wasteful, useless Pink Bats, the BER, $900 handouts, (some of which went to family pets, some to expatriate/emigrated former taxpayers, much went into poker machines...), then the Set Top Boxes that cost more than a new LCD TV. Also the huge and ongoing expenses incurred by the destruction of our immigration borders would have been averted. The Libs would have saved $Ms not wasted on advertising Labor lies, not setting up overlapping govt., departments to enforce a transition to "green" power, and the employment of 20,000 new public "servants", who will all need to be paid off, at further great expense, when/if the electorate "goes sane" and returns the Libs to govt. REAL "savings" JuLiar, not additional taxes.
Paddy | 7/02/2013 10:36 3
Well Said. If Ju-liar is asking TA and JH how they would acheive a budget surplus....then why is she in power. She should know herself how to acheive it. I'm not a politican and never intend to be but I know this much and that is if you havent got the money.. you dont spend it. If you need to spend it.. make sure it is not wasted... if you need to borrow it... make sure you can fund the repayments..... pretty simple in my eyes and yet someone who is supposed to be a PM is asking the opposition what they would do.......GET REAL - GET WOOL....OFF YOUR EYES. START BY FACING - THE FACTS, THE MUSIC, THE PEOPLE, THE POLLS, THE WORKERS, THE FAMILIES, THE AUSSIES AND LAST BUT NOT LEAST.........THE ELECTIONS AND HOPEFULLY WE WONT SEE YOU BACK AGAIN.
dave d | 7/02/2013 12:46 4
What I really would have liked to hear from our Ju-Liar is "Well, if the shadow treasurer and the leader of the opposition truly think that is the position ... there is no reason at all tomorrow they can't walk into this parliament "and we'll leave !! - why is it that Ju-liar and her band of credit card frauds always question what the opposition is doing or will do instead of questioning her own bunch about what they are actually doing to the country - we all know why - she won't like the answer !!
Goldie | 8/02/2013 08:42 5
Why would anyone in their right mind say they would, without a doubt, achieve a budget surplus in a few years time when the world was in the midst of of the greatest financial downturn since the Great Depression of the 1930's? Now she looks even more stupid (if that is possible) as she asks the opposition, if they are so smart how would they achieve a surplus during the GFC. Quite simple Juliar, you do your level best with the changing circumstances and don't make ridiculous promises that the uncertainty of the situation will most likely not allow you to achieve. Contrary to what politicians think the people are not all stupid, they are living the GFC as well and know the uncertainty and could accept a governments pledge to do all they can and would not expect rash and stupid fortune telling decisions. Her statement saying revenues are the lowest since the 1990's has not stopped her making promises and cruelly raising expectations that the country simply cannot keep. Trying to shame the opposition and the states into a corner is no way to run a country. Juliar is a disaster of epic proportions with an ego and attitude to match and we cannot afford nor do we want her anymore.
Robin Mark | 8/02/2013 11:32 6
As has been noted, the Labor government is in power and they should be the ones outlining their plans. After the last K-Rudd "Me Too" campaign of course the libs are keeping quiet.
Ken | 8/02/2013 13:14 7
Read the FACTS below Gentlemen and you call Julia a Liar take a good look at What you think is going to be your saviors LIES Old ones but Leopards Never Change their Spots. As in the previous election campaign, John Howard continues to remind voters of his financial management credibility. Mr Howard recently warned Australian taxpayers that with the forecast of financial bad times to come, the Liberals as an experienced team are the most suitable to govern Australia for another term. During the last election campaign, on August 30, 2004, Mr Howard was interviewed by Steve Liebmann on Channel Nine's Today show and said, "Everybody knows that if the interest rates that prevailed when Paul Keating was prime minister prevailed now the average Australian would be paying hundreds of dollars more a month on their mortgage bill. Now that is not a scare tactic, it is a fact. They went up under Whitlam, they went up under Keating, they went up under Hawke." Anybody who cares to look at the Reserve Bank's records of government interest rates from the past few decades would find very different results. What John Howard did not want to admit then, and still continues to hide, is that when he was the treasurer in the Fraser government the interest rate was as high as 21.4 per cent - in April 1982. To use Mr Howard's own words "that is not a scare tactic, it is a fact". The highest interest rates from 1982 were: Fraser government (when Mr Howard was treasurer), 21.4 per cent in April 1982; Hawke government, 19 per cent in December 1985 and Keating government, 7.9 per cent in December 1994. The Liberal Party website during the 2004 election campaign also showed "interest rates under Labor" under Mr Whitlam as 10.38 per cent, under Mr Hawke at 17 per cent and under Mr Keating at 12 per cent. However, the rates shown were the "housing rates" and one important fact left out was that the housing rate under Mr Fraser, when Mr Howard was the treasurer, was 13 per cent - higher than under both Mr Whitlam and Mr Keating. I think the main reason for Mr Howard's failing popularity in the polls is that since the last election Australian taxpayers have learnt to read between Mr Howard's popular lines on a number of things: GST, WMD, AWB, AWAs, the global war on terrorism and climate change, to name just a few.
Ken Goldsmith | 9/02/2013 17:37 8
Yes, KEN, the Howard govt. lies are not forgotten. GST was not one of them, and I never heard a complaint from anyone ON an AWA, and I don't know that anyone could sheet home the blame for AWB to Howard, but there were plenty: "core and non-core promises", "children overboard", etc. etc. etc. I for one put Lib. last, Labor 2nd last, on my '07 ballot paper, BUT, as he asked a couple of years later, "how is that working out for you?". I don't think the electorate should have to accept any less in standards of honesty and openness, "Truth in advertising", than those mandated to business. Another common criticism of the post '07 Labor govts. is that NO WORTHWHILE infrastructure projects have been undertaken. The same criticism can be leveled at the Howard govt, and they had the benefit of governing during better global economic times. They did leave us with money in the bank, however, and the current shxxer of sxxte is leaving us nothing but debt. Unfortunately, our "democratic" system is broken, and it is our two party system that broke it. We need to get some Electoral Recall, and some Citizen Initiated Referenda laws into place. Electoral Recall alone would ensure this minority govt situation could never happen again. "A socialist, a psychopathic liar, and a shonky lawyer walked into a bar, and the barman said "What would you like to drink, Juliar?""
Paddy | 11/02/2013 06:27 9
Hello Ken, hello, hello, hello. Are you there. or should I say are you here. The GST was voted on mate, he took it to the election. AWA's are needed mate look at the trouble we are having now. Wake up Aussie. Or maybe you are not one. At election time time make sure you kick the Ranga in the Banga.
Ken F | 11/02/2013 10:26 10
Hi Paddy Well yes i am Austalain 62 year old born here and full Aussie descent. ( I assume Paddy you are Irish Descent not that that's Bad better than Pommie) Anyway i AM NOT A LABOUR SUPPORTER gentlemen. Just do not believe that Abbott can deliver the goods prefer if Malcolm Turnball was leader then i know they would do the job. Julia certainaly can not. I am what is called a skeptic on politicians as i do not trust any of them both sides they all promise the earth and dont deliver and remember a surplus means MAJOR cuts no good getting to high a one as no money will be spent on infrastructure as less will be handed out to the states a balance has to be struck. Howard lost his own seat in the election against Rudd great surplus figures because no money was spent on infrastructure.
Paddy | 11/02/2013 10:40 11
I dont beleive that TA will make an awesome PM either and I think MT is the one. But i dont beleive they could make a worse mess than we already have. At least the Coalition has a track record of surpluses. Ken, dont you think it was a good thing that Howard had not spent all the money he accumulated? Imagine if Ruddy or Julair had come into power with a small amount of money in the bank.....we would be owned by Asia by now if that were the case. The debt would be about 4 times worse than it is.
Ken F | 11/02/2013 10:58 12
Hi Paddy I agree with you on that one, a good balance between surplus and spending has to be achieved as you said, I am pretty sure JH was Happy and if he got back in was goning to invest a very good portion of the surplus on infrastructure that's why i voted for his government in that election to no avail though.
Related Feature Articles
Telstra is not saying how many jobs may be lost as part of a major...
Labor and the coalition are at odds over how to save the manufacturing...
Australia's bosses are being encouraged to employ older women in their...
A mining giant is refusing to hire local workers for its two new central...
The rollout of the national broadband network in the ACT is set to become...