Abbott will need to cut deep: experts （ZT）

Abbott will need to cut deep: experts

The Coalition will have to make swingeing cuts to government programs if it is to implement Tony Abbott's 10-year economic plan promising smaller government but massive new spending for defence, paid parental leave and the private health insurance rebate, economists say.

 

Read more: http://www.smh.com.au/federal-politics/federal-election-2013/abbott-will-need-to-cut-deep-experts-20130826-2sma5.html#ixzz2d7GdO9K0

To summarise:

1. Where the raised spending goes to,

Raising defence spending - to 2 per cent of GDP within 10 years will cost $35.5 billion in extra outlays alone over the decade to attain, according to the budget expert at the Australian Strategic Policy Institute, Mark Thomson."By 2023-24, the annual defence budget would be $50 billion for the year to meet the 2 per cent of GDP goal, he said, compared with $24 billion currently."

"Abolishing the means testing of the private health insurance rebate -...''within a decade'' - would cost $833 million a year in current dollars, and substantially more ... in the future."

"The paid parental leave scheme, meanwhile, will cost $5.5 billion a year once it is up and running,..."


2.Where the cuts go?

Mr Thomson said, "without fairy dust", an Abbott government would have to take an axe to other programs...real and significant cuts to health, education and family payments

3. How to see it?
Saul Eslake, chief economist at Bank of America Merrill Lynch, said the Coalition's fiscal objectives should be viewed as only an ''aspirational goal'' that would only be achievable if the economy began growing rapidly.

Mr Robb said ''all of our spending … all of our cuts'' would be released before the election.

My suggestion:
You guys should be careful to read the liberal budget with spending and cuts before signing your name to it.
 

所有跟帖： 

• to suck the money into the richies!! haha! -zhmz888- ♂ (0 bytes) () 08/26/2013 postreply 20:25:24