paulry

On the plus side that would bring down the house prices

Amazulu

Everyone's a winner

IvanM

Looks like Abbott is the same without carbon tax. Will the tooth fairy rescue the hole in his budget? Same crap different leader with no credible costed policy. No more believable than the rest of them.

DadAgain

So massive cuts in superannuation for everyone instead of Priced Carbon.

What a git.

I'm sorry I'd much rather have 3% extra super and find my own ways to reduce exposure to Carbon costs.

I am (as was expected) uninspired by Mr Abbott. I do hope the damage he does over the next three years is limited and the Australian people dont let him run unrestrained and unchecked like a crazy man. We've seen what happens in QLD when you let a looney take control without checks and balances - on a Federal level it could be even worse.

Amazulu

My super hasn't been cut



Glad to see the carbon tax will be axed

DadAgain

MOST people have their super cut from 12% (under proposed and previous agreed government legislation) back down to 9%

GarryP

Bread and circuses before the election, and after as well, only they change who the lions are munching on.

"Sure we have free entertainment, just for you, won't cost a thing - just walk straight down this corridor and through the gate."

ROMFT_WO2RN

but it still hasn't been cut, you never had it in the first place. The promise of a rise by a certain date has been extended out to a different date.

Amazulu

It's 9% today and 9% under TA

No cut

Pity there was no income tax cuts proposed

renth

True, heading into a possible recession the govt. needs to slash spending AND taxation to encourage entrepreneurs to create real jobs (not govt. jobs which are just churning tax money).

Swerv-o

Sadly he's sticking with the 0.5% medicare levy increase. That's a real kicker, as it's levied on entire taxable income, not your marginal tax rate.


S

Amazulu

Spot on. Read recently about how government admin costs have doubled, even tripled under Labour. It's a big part of the current deficit.

Amazulu

Yep, it's a bitch. Gillard has been very clever to link it to the NDIS. This enables Labor to label the coalition 'heartless' if they scrap it. Unfortunately they're playing the game.

GarryP

I assume people have seen this taxation/spending app

http://www.abc.net.au/news/2013-05-0...tax-go/4682404

The problem with your plan is slashing spending is good'ol austerity - which can bring a vibrant economy low and stick the knife into the heart of a poorly one. Rather than the simplistic right wing plans of slash and slash, what's needed is

• Cut the pointless red tape, which australia has lots of.
• Redeploy the manpower saved into export generative work (eg don't sack'um). The difficult thing is finding something that australia can generate exports in.
• Make it easy to create a new company, and even easier to export from one. It costs £40 to set up a Ltd company in the UK, and it can be done in 10 mins. Its an order of magnitude higher in Oz, and more red tape and less benefits for the small business.
• Otherwise invest in system structural changes that will curb the government expense in later years (not add to it). For instance, healthcare, old age care, and education are the big spenders. Do those more efficiently and reap the benefits. Disabled care is another area where you can be smarter, rather than just throwing money.
• You can then have some roles for that manpower that you don't use for red tape.

renth

Good points but who decides where to redeploy the manpower saved and what/how much in invest in the system of structural changes? If the answer is the government then it will always result in a misallocation of economic resources and be far less efficient than if the free market were to determine who works where and for how much?