28 February 2014

Abbott's fiscal plans just dont add up

There are many fine words emanating from Abbott Government Ministers about how they are “purposefully, methodically and carefully” going to 'clean up Labor’s mess'.
But there are growing concerns about how this is going to be done.
They (the Abbott government) have preserved the subsidy on the private use of executive cars, a cost to the budget of $1.8 billion.
They have already given a voluntary handout of $8.8 billion to the RBA.
Then there is the reported $880 million that they owe News Corp after the latter won a long-standing battle with the Australian Tax Office over deductions.
They are prepared to pay $5.5 billion per annum for Tony Abbott’s extravagant paid parental leave scheme.
They remain determined to wind back means testing on health insurance, believing that people on average incomes should subsidise the health of those in higher income brackets. It is estimated this would cost $3 billion over four years.
There seems to be a palpable disconnect between their actions and their avowed intention to build sustainable surpluses and live within their means.
Frank Carroll

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