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2014 Australian Government Budget |OT| Throw some debt on the barbie

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M

mjontrix

Member
Hello, and welcome to the Australian Budget 2014 thread!


FULL BUDGET AVAILABLE HERE!!! - http://budget.gov.au/2014-15/



tl;dr - https://www.youtube.com/watch?v=bCLoNOYcVQU


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The main players are:

Tony Abbott

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Joe Hockey

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The Commission of Audit - lead by Tony Shepard

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More info as it comes out!

What's rumored to be in the budget:

Cut, cuts and more cuts!

Co-payments to see GPs
Changes to HECS-HELP
Fund for Future medical research
Selling of lots of public assets.
Abolishing industry assistance

Not in Australia - live feed here - http://www.abc.net.au/news/2014-05-13/live-blog-coalition-prepares-to-deliver-tough-budget/5448702
Livestream is here - http://www.abc.net.au/abcnews24

Alternative live blog - http://www.theguardian.com/world/2014/may/13/budget-2014-joe-hockey-speech-live
 
M

mjontrix

Member
Age of sacrifice - cutting company tax by 1.5% wait what?

From 1st of July increase of 2% in marginal tax rate to 180K+ taxpayers.
 
A

AdventureRacing

Member
I'll try and tune in for a bit but i think i'll struggle to watch the whole thing. Watching these cunts burn down our country whilst no one seems to give a fuck is too much for me.
 
M

mjontrix

Member
Age Pension eligibility increased to 70 by 2035.

New recipients will have untaxed super included in calculations for pension.

$94,360 per year before Family Tax Benefit A is affected.
 
A

AdventureRacing

Member
Rubixcuba said:
Watching now, worried about what is going to happen to Uni fees and welfare.
Click to expand...

Welfare is the big one for me. I know quite a few people who will be totally fucked if some of the things the government have been talking about come in.

Jintor said:
Bye universal healthcare. It was really nice not being the united states
Click to expand...

Can't wait to have more and more people coming to the emergency department because they don't want to pay for GP's. After years of encouraging preventative health care now we're discouraging people from going to the doctors. Expect health care expenditure to massively increase in the future.
 
M

mjontrix

Member
Foreign Aid 7.9$ billion reduction over 5 years.

230 bureaucratic programs removed.

900 government bodies committees etc. more than 70 are being abolished to provide better 'value'.

Less regulation.

Duplication and overlap.
 
A

AdventureRacing

Member
Jintor said:
Listen to what Hockey is saying. We're fucked.
Click to expand...

My job is in a pretty good spot so i'll be fine. My family and quite a few of my friends though, not so good. I think i'm going to be supporting my family a lot in the future.

cluderi said:
Holy shit, if you're planning to be ill in Australia do it ASAP it seems.
Click to expand...

Holy fuck i didn't see that coming. Not sure how we'll cope tbh, things are already pretty stingy around the place both in terms of staffing numbers and equipment. Between this and the GP reforms healthcare in this country is about to be set way, way back.
 
M

mjontrix

Member
Australians under 30 should be earning or learning.

Unemployment given Youth Allowance not Newstart allowance.

Wait up to 6 months before unemployment benefits given (for those under age of 30)..

Work for the Dole then welfare payments will be given under 25.

Engagement plans for partial disabilities.

Paid Parental Leave confirmed - details to follow.

Family Tax Benefit B removed when youngest child above the age of 6.

Employing people over the age of 50 - employers given assistance (monetary).
 
J

Jintor

Member
Oh yeah, open marketplace university. Fucking ace.

HECs seems to be remaining. $50k repayment limit remaining. 1/5 dollars going to scholarships. Soft touch.
 
M

mjontrix

Member
Direct financial assistance for Diplomas and some bachelor degrees.

One University in top 20 in the world - aim of government.

AH FUCK CHANGES TO HIGHER EDUCATION - 2016 NO CAP ON FEES!

Until 2020 we can still have old fees...

High education loans concession - still no upfront fees. $1 out of every $5 will have scholarships (USA EDUCATION SYSTEM OF SCHOLARSHIPS OH MY GOD!!!!!).
 
M

mjontrix

Member
$20 billion Medical Research Future Fund.

Lower threshold for safety net for healthcare - children and pensioners.

$7 Medicare co-payment for GP visits

Defensive Spending will account for 2% of GDP.
 
M

mjontrix

Member
Economic competitive - collect less taxation?

Wait... isn't age of entitlement over?

Over next ten years (plan is) $300 billion reduction in deficit.

Reduced interest repayments by $16 billion per year (after?) 10 years.
 
F

favouriteflavour

Member
mjontrix said:
$20 billion Medical Research Future Fund.

Lower threshold for safety net for healthcare - children and pensioners.

$7 Medicare co-payment for GP visits

Defensive Spending will account for 2% of GDP.
Click to expand...

Saving millions on GP visits to increase hospital costs by hundreds of millions.
 
M

mjontrix

Member
Mining and resources represent 10% of GDP but 2% of employment.

Majority of heavy lifting...

Package of measures that will sig. increase infrastructure investment. Government will help build new ports, airports, rails and roads.

Create thousands of jobs.

Admittance of mining boom ending.
 
A

AdventureRacing

Member
favouriteflavour said:
Saving millions on GP visits to increase hospital costs by hundreds of millions.
Click to expand...

Thing is the savings are more short term whereas the costs will be seen much more in the mid term. So it might look good on their books but in a few years the health care system is going to be hit hard. Reducing the funding is a double whammy. Between that and the cuts to welfare we're going to see poor people get hit really fucking hard.
 
S

Shaneus

Member
Who the fuck gives a shit about roads or railway lines? Seriously. As if there's been a problem in shipping shit into, out of and around Australia.

Priorities!

Oh wait, is this because no-one could afford to go to uni, so they'll need blue collar jobs?
 
M

mjontrix

Member
Shovels moving in matter of months.

$11 billion WestConnect will start within 18 months - 10000 jobs
Every dollar raised from fuel excise will be linked to road budget.

Stable and growing fund to ensure future road projects.
 
S

Shaneus

Member
How the fuck are roads an investment?

Fuck,. what's that about CSIRO and ABC/SBS? Jesus fucking christ. That makes me want to weep.
 
M

mjontrix

Member
ABC & SBS will have their budgets cut by 1%. ABC also loses the contract for the Australia Network TV channel.

That's our furor Rupert Murdoch for you.
 
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