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Budget deficit only half as horrible

By johnboy - 22 December 2006 19

Our Brave Leader might be off on his hols but he’s not so much on vacation he couldn’t put out a media release celebrating a revision to treasury estimates showing the deficit for this year is *only* going to be $42 million rather than the $80 million first feared.

So the economy is booming, taxes are rising, services are being slashed, and we’re running a large deficit???

Can someone explain where the money is going?

What’s Your opinion?


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Budget deficit only half as horrible
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publius 2:15 pm 03 Jan 07

So …the 39 school closure policy announced in the June budget (which was trimmed back in December following a public outcry) was probably not really necessary (as savings were quite small over time anyway). Does this better budget position mean the original grand version of the Al Grassby statue can now go ahead? As we all know, that would be far more sensible expenditure than supporting uneconomic schools.

“At least we know labour is spending the money we give em. “

I don’t think this is a good thing. Having a culture of always spending everything you have doesn’t seem to me to be a smart approach. I actually don’t mind the idea of putting some $$ aside during the good times to help us out in the lean times.

“Whether it is appropriate or not is always going to be subjective”

No argument about this.

vg 2:49 pm 22 Dec 06

Half a pile of shit is just a smaller pile of shit

seepi 12:32 pm 22 Dec 06

An article in the CT a few days ago suggested it was due to the costs of pay and super in the ACT public service, which has to offer conditions similar to the APS to retain any staff.

Absent Diane 12:29 pm 22 Dec 06

do you guys realise that if there is a surplus in budget it probably means that we are being over taxed 🙂

At least we know labour is spending the money we give em. Whether it is appropriate or not is always going to be subjective.

Ralph 12:10 pm 22 Dec 06

Oh yes that’s right, expenditure is going through the roof. This is a government who started running a deficit through the biggest every property boom this country has ever seen. Staggering incompetence, and in another desperate grab for dollars they are now going to start taxing broadband.

Mr_Shab 11:37 am 22 Dec 06

Ummm…to the skyrocketing cost of healthcare, budget overruns in big ticket spending items like the GDE & the prison, and to moribund, underpupiled schools. I suspect that Stanhope’s Tree-World and statues of pimp-suited ex-politicos, while a waste of money, don’t really put that much of a dent in overall budget.

Flame away, ya bastids.

Thumper 11:12 am 22 Dec 06

Ah, no doubt Feb will see Sonic on the attack…

johnboy 11:05 am 22 Dec 06

I think he’s decided it’s better to just use his bully pulpit to rubbish the coroner rather than risk another judge upholding her findings.

vg 10:55 am 22 Dec 06

Funding appeals against the fundings of the Bushfire Coronial will undoubtedly get a slice

Surely there must be a fundamental position where the council knows (approximately) what’s coming in, and budgets spending accordingly? Perhaps the spending needs to be looked at a bit harder?

johnboy 10:32 am 22 Dec 06

That’s a very interesting line of speculation poptop.

But isn’t the GST collected by the feds coming back to the ACT? More than ACT residents actually pay?

poptop 10:24 am 22 Dec 06

Has something changed over in ACT Government land? I can only imagine that they have bought themselves a shiny new crystal ball. I am impressed at the vast improvement in their predictive powers over last year’s effort.

Hopefully it has nothing to do with the departure of Paul Grimes, the Under Treasurer, who is or has departed to work in the big pond of DoFA.

Thumper 10:21 am 22 Dec 06

Um, Emergency Services levy that, in reality, goes straight into ACT consolidated revenue.

belcc 10:12 am 22 Dec 06

I can’t let this pass. Your money is going to the Federal Government, not the States and Territories.

Look at the rise in tax revenue for the Federal Government over the last five years. Obviously these don’t include the most recent tax results, but I will guarantee that the figures haven’t changed that much.

I would even be pretty sure that the ACT remains a low taxing government by State & Territory standards.

So before you say how great a financial manager the Libs are, I would say this: who couldn’t run a surplus with Federal revenue rising that sharply??

roccon 9:57 am 22 Dec 06

slush fund stowed away for the next election ???

Standard labor financial management.

andy 9:40 am 22 Dec 06

arboretums and stupid statues.

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