Economic challenges make it hard to see how the Australian government can hold on to the previous government’s planned stage three tax cuts which create a flat tax rate of 30 cents in the dollar for anyone earning between $40,000 and $200,000. These cuts abolish an entire rung of Australia’s progressive income tax ladder.
What if they were scrapped and there was an extra $243bn in the budget over the next 10 years?
The Guardian has produced an interactive budget for you to see how far $243bn can go:
This new book, “The People’s
Constitution”, contains the latest research about the values and aspirations of
Australians and their need to enshrine those values along with their voices and
human rights in a new Australian Constitution if they wish to take a rightful
share of power in their own governance – a share sufficient to help them build
the future of wellbeing and security that they need and deserve. As
Australia walks on to an Indigenous Voice in the Constitution and then walks towards
a decision one way or another about a republic, we will need this new people’s constitution.
Treasurer Jim Chalmers proposes a new management model for the
Australian economy. Although presented as a model of “fairness” that overcomes
the social failings of the free market, it sounds very much like the failed
models of “guided democracy” tried in various failing socialist states.
“The Treasurer says Labor will ditch the free-market policy
consensus that has steered rich countries over two generations and fashion a
values-based economy in partnership with business, unions and community groups.”
This model of forcing Labor dogma under the cover of “elites” will
True engagement of the electorate is the way forward…
The Federal Treasurer is now in the important stages of
preparation for his May Budget. As he does this, he needs to address a
structural deficit and chart a path back to the surplus required to reduce debt
accumulated during the COVID shutdowns. Additionally, the growing costs of the
NDIS and an ageing population need to be funded.
There are significant political hurdles to overcome in
making the hard revenue and spending choices needed to overcome the structural
deficit. Only through effective engagement of the population can the hard
decisions be made in a way that neutralises the political risks.