Alright, (hopefully) leaving the corona virus lockdown days for good we have what was a weak economy now much weaker.
“The problem with Australia is that whilst it might handle adversity very well, it doesn’t handle prosperity very well at all,” says Steve Miller, BlackRock’s departing head of Fixed Income.
Nothing could be more true of the past 26 years of continuous economic growth in Australia. Built on the back of the Hawke and Keating governments' response to Australia’s last economic crisis, we have been the envy of the world.
But not any more, because within these past 26 years has been prosperity: Australia’s largest mining boom, pouring surplus income into government coffers, and wasted by the Howard-Costello government on unsustainable transfer payments (read the Baby Bonus), PAYE tax cuts, unsustainable uncapped superannuation retirement benefits and temporary fuel tax indexation reductions, all done for short-term political advantage.
There's nothing to show for future generations except a narrow-cast Future Fund to offset Commonwealth unfunded superannuation liabilities. No sovereign wealth fund to fund infrastructure, no investment in education, no significant investment in research and development.
He misses no decent broadband network thanks to the idiot Libs.
So here we are in another economic crisis and the cupboard appears bare. . . .
(Mentions the Hawke accord.)
https://www.smh.com.au/national/another ... 54wv2.html
We need a new accord with government, unions and industry around a new set of reforms to build a sustainable recovery. The Prime Minister’s announcement on Tuesday is the first step, but without industry-wide bargaining, it is near-impossible to achieve real social wage offsets. The PM will need to stare down his backbench to achieve this breakthrough.
This new accord should build on the current initiative by the unions and industry to keep building and construction going through COVID-19 and the leadership of the ACTU in advocating and supporting JobKeeper and JobSeeker programs.
This accord should build on five key themes.
So you can discuss the key themes.
We need tax reform, increasing PAYE rates, closing some obvious loopholes especially the outrageous cash refunds for franked dividends to managed super trusts that pay no fucking tax!
Then look to infrastructure: road, rail, NBN (Sell it to the so-called Future Fund, the govt gets back the money it loaned to the NBN Co and the Future Fund can be tasked to “Maintain and improve the NBN network” which means convert it to FTTH. All this infrastructure will be a great stimulus.
Hawkes accord was with the unions, established a social wage which 19 years of neoliberalism has eroded. End neoliberalism, roll back taxes and other breaks to the very wealthy. Restore the ABC funding and independence, we need a real voice to broadcast news and quality analysis. The bloody Libs won’t do that, of course, they love the tax payer funding their propaganda arm. Restore health, Medicare, social security spending and stop treating the unemployed like dedicated bludgers. 10 job applications a month is realistic, 20 a week is idiocy. Boost NewStart.
Aim to develop some manufacturing, electric cars for one. Apply Australia First to fed, state & local purchasing.
Etc. Something HAS to be done.