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The Coalition's slash + burn « Previous | |Next »
August 12, 2011

So the Coalition is finally starting to come clean on its claims about returning the budget to surplus.

It needs to cut the budget by $70 billion in budget savings to fund its promises. Dumping Labor's carbon tax would cost $27bn over four years; scrapping Labor's new mineral resources rent tax would cost $11bn; $8 billion in tax cuts and $37 billion in existing Coalition policy commitments.

Whole government departments would need to be dismantled. You can bet what would be targeted----anything to do with a Green agenda along with health, education and the NBN. That politics of austerity will give substance to the tabloid media and the shock jocks on commercial radio claims that Australian's are doing it tough and that it is all the fault of the government. The journalists working in the tabloid media and the shock jocks can then comfortably say to the electorate ''we feel your pain".

It's sticking the boot into the welfare state but it is called 'Australia putting its financial house in order.' The progressive vision of a social democracy funded by high levels of taxation on the productive private sector is simply unaffordable. It leads to national insolvency. So the entitlement culture must be attacked and rolled back.

Apparently, less welfare for the working class--the end of entitlement -- will lead to better social cohesion in spite of the increased joblessness, poverty, and income inequality. Austerity is it’s going to shrink the economy; a weaker economy means less revenue; unemployment; a depressed economy means less business investment; there's the waste of talent because young people have their lifetime careers derailed. If the economy is weaker in the long run, this means less revenue, which offsets any savings from the initial austerity.

What we have here is an irrational debt and deficit phobia fabricated by the Coalition and its conservative economic supports proclaiming the virtues of austerity and deregulation. What we have is public funds being used to bail out exposed creditors and shore up asset values, while the "crisis" is going to be used to suppress wages, postpone meaningful regulatory reform and expenditure on the welfare state (i.e. the losers and chiselers) is slashed.

| Posted by Gary Sauer-Thompson at 10:06 AM | | Comments (3)
Comments

Comments

I'm waiting to hear the Coalition's economists say that older Australians (the baby boomers) are sucking resources from the rest of the nation. So the welfare pensions) to the middle class has to stop to prevent the baby boomers ruining Australia.

"Apparently, less welfare for the working class--the end of entitlement -- will lead to better social cohesion..."

And, no doubt, INCREASED welfare for business and the "aspirationals" will lead to more votes for the coalition.

So the Coalition will spend $27 billion to NOT tackle our share of global warming?

Only in Australia!