The Money Mustache Community
Around the World => Australia Discussion => Topic started by: middo on May 09, 2023, 05:16:29 AM
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What are your thoughts?
A surplus. Will that keep interest rates down?
More relief for the poorest through welfare. Supposedly non-inflationary.
Personally I think it walks a good line. Over to you Australians...
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Balanced budgets seem like something from a bygone era (for not just Australia). Maybe Australia should treat it as a tourist attraction and show it off in parliament.
Looking at two Australia ETFs, I see about 1/4th of the stocks are mining. I suspect mining has done well recently, which resulted in more taxes and the balanced budget. I wouldn't be surprised if I was wrong - but I would be surprised if politicans deliberately spent less to balance a budget.
https://etfdb.com/etf/FLAU/#charts
https://etfdb.com/etf/EWA/#charts
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I agree with Ross Gittins. It's a complacent budget that doesn't address the underlying problems. And Peter Dutton is giving it a tick.
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I thought the increase for jobseeker allowance and rent assistance, although paltry, was long overdue.
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I reckon they've done ok.
I'd prefer a larger surplus and aim to keep it that way for few years, but also respect views that countries maybe shouldn't run budgets like households.
The investment in primary care has a direct affect on my work (not my income) and is a 2 decades overdue investment. Whether the horse has bolted too far to turn the market failure in GP's will take a few years to judge.
A very fortunate surplus secondary to factors outside their control in no small part from mining royalties.
Whilst Labour have this early windfall, they've shown some restraint in simply splurging it and more to keep us in perpetual deficits, so kudos to them.
I'd love them to have the confidence and grit to tackle real tax reform, but they may want a mandated second term before taking such steps.
Fringe stuff like the superannuation tax >$3m isn't real reform, but perhaps dipping their toe for bigger things to come.