Blogotariat

Oz Blog News Commentary

Joe Hockey

Budget black hole hits $60 billion

April 2, 2014 - 08:22 -- Admin

The ever-expanding black hole formerly known as the Budget significantly broadens its circumference today. From The Australian: SAVINGS of more than $60 billion a year will have to be found by 2023-24 for the Abbott ­government to reach its surplus target, according to the Commission of Audit, which presented a bleaker outlook for tax revenue [...]

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Terms of trade pressures intensify

March 28, 2014 - 16:09 -- Admin

As the dollar chases the Glenn Greenspan agenda to the stars, we should take a moment to remember that the Australian economy actually does have more to it that just houses. The Terms of Trade (ToT) are also quite influential, from time to time, and right now they’re taking a beating. There’s iron ore of [...]

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Budget $5 billion in the black!

March 20, 2014 - 06:23 -- Admin

Joe Hockey’s excellent Budget expectations management is throwing up a nice dividend: Recent monthly government spending and taxation figures suggest the trend is already favouring this year’s budget. The Department of Finance on Friday reported a fiscal deficit for the seven months to January 31 of $27 billion, some $5.1 billion better than what was forecast in [...]

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Abbott’s tribalism fails the leadership test

March 14, 2014 - 12:01 -- Admin

Cross-posted from The Conversation. At the end of the election campaign Tony Abbott observed that the big difference between an opposition leader and a prime minister was that the former was inevitably the leader of a tribe while the latter had to be the leader of a nation. But Abbott so far hasn’t made the [...]

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Pascometer burns red on consumer confidence

March 12, 2014 - 16:27 -- Admin

Weeoo, weeoo, weeoo. According The Pascometer and the confidence brains trust at Sydney Morning Domain, the consistent falls in consumer sentiment are all Joe Hockey’s fault: What was a somewhat bemusing sidelight of politics and consumer confidence has now become serious: the government has so peeved Labor supporters that they’ve tipped the consumer confidence balance to negative. [...]

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Construction boom, austerity, thump ACT landlords

March 6, 2014 - 12:22 -- Admin

By Leith van Onselen In the lead-up to last year’s Federal Election, Joe Hockey suggested that it could be a good time to sell Canberra housing, noting that home prices could be pushed lower by a Coalition Government: “There is a golden rule for real estate in Canberra – you buy Liberal and you sell [...]

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Pascometer burns red on Budget crisis

March 4, 2014 - 16:55 -- Admin

Weooo, weooo, weooo. The Pascometer is warning that: It’s getting harder and harder for the Treasurer and Minister for Gloom, Joe Hockey, to keep faking it. No matter how much he scowls, the evidence keeps mounting that his MYEFO (mid-year economic and fiscal outlook) forecasts were a crock. The latest exhibits for the defence of [...]

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