First, apologies for the sudden few weeks off, but when your internet dies and the family ends up having to use a pocket wi-fi device for two weeks, you end up having to decide what is the best use of what little wi-fi there is available.
But I came back in time for Budget Week! Yay! I’m not normally a fan of maths and economics and finance, because it makes my head hurt, but in the last couple of years I’ve warmed to it. Modern technology also helps, as people can now make graphics to simply explain “winners and losers”.
The theme for the budget this year was “Fairness, Opportunity and Security”, with the aim of differing between good and bad debt (borrowing for paying bills = bad; borrowing to build infrastructure = good) and making things fairer. The big things in this budget include the funding for Snowy Hydro 2.0, Gonski 2.0, Badgery’s Creek Airport and other infrastructure. The AFP will get a $320 million boost in funding, and
There will also be an increase in the Medicare levy to pay for the NDIS, as well as an increase in tax for most, if not all, taxpayers. There is also a restructure to schools funding, which is causing a bit of drama, because several schools will lose some money. In NSW (because that’s what version of ABC News I get) several independent and public schools will lose between $500,000 to $2.5 million in funding in 2018, making the State Education minister, as well as the NSW Department of Education boss Mark Scott (who used to run the ABC) very mad – although more about the public schools than the independent ones.
The ‘big four’ banks (ANZ, NAB, Commonwealth Bank and Westpac) are going to be taxed by the government, with the aim of rasing $6.2 billion over the next four years. The banks are not happy, and walked out of meeting with the government this week, convinced the tax is unworkable. Scott Morrison and Malcolm Turnbull have both encouraged the banks to take the pain and not pass on the costs to the consumers. There is also a plan to allow first-home buyers to salary sacrifice money into their super in order to help them afford the deposit on a home. There are still no mentions of changing negative gearing.
The government has also decided to randomly drug test Centrelink recipients, which has been met with mixed reviews. Some support it, mainly in areas where the jobs involve drug testing in order to be allowed onto site, while others are concerned it will push those on the dole who may be just barely getting by into homelessness when their payments are cut off. Jacqui Lambie has decided that she will only support it if politicians are drug tested as well (which will be unlikely in my lifetime).
Bill Shorten and the Labor party are in a bit of hot water this week after an advertisement touting Labor’s plan to ‘hire Australians first’ – with a cast of, well, white people in work uniforms. The party has been criticised for not reflecting the diversity of the country, with Shorten and the party apologising for the advert, which will likely never be played again ever.
Finally this week, the Prime Minister has revealed he is considering an American request to send more troops to the Middle East, a decision he will be making without Dennis Richardson, a long-serving public servant and advisor, who retired on Friday; and the death of ABC radio journalist and presenter Mark Colvin shocked and saddened politicians and the media.
Tweet of the Week
Things I’ve Been Looking at Online
Leigh Sales’ tribute to Mark Colvin – ABC Online
ABC journalists remember Mark Colvin – ABC Online
How Brigitte Macron is different from other French presidential spouses – ABC Online