Australia’s big spending problem: can Morrison fix it? 9



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In his first press conference as Australian Treasurer, Scott Morrison raised concerns about current government spending, and gave a strong suggestion that more cuts could be on their way.

According to ABC News, Mr Morrison admitted the Coalition had not managed to reduce the amount of government spending during its time in office.

“We have a spending problem, not a revenue problem,” he said.

He said this government expenditure (currently 26% of Australia’s overall economy) is at the same place it was during the height of the Global Financial Crisis. “This is not something we believe to be sustainable”.

Shadow Treasurer Chris Bowen criticised Mr Morrison’s stance: “Both revenue and spending measures need to be on the table, and it’s disingenuous and dishonest and just plain wrong for Scott Morrison to pretend otherwise,” he said.

When he took over as Prime Minister last week, Malcolm Turnbull promised a new “economic vision”. However, according to the ABC, the commitment to push forward and release the mid-budget update on time could cast some doubt on any drastic change.

Speaking on the promised tax reforms, he said they would “continue to follow process that has been established and we will release it when we’re ready to release it”.

“It’s a critical part of our plans to provide real opportunities for Australians who want to work, save and invest”.

While former Treasurer Joe Hockey’s cost-cutting decisions were incredibly divisive, Mr Morrison aims to continue pursuing saving measures put forward in the previous budget, including “critical” changes to the Family Tax Benefit system.

“They not only have… important savings, but those savings are deployed on a very important task, and that is to make the cost of childcare more affordable for Australian families”.

While he praised Hockey’s work on increasing global economic growth, Mr Morrison made it clear his priorities were back at home.

“My job as Treasurer now, I think, is very much to be a home Treasurer, a domestic Treasurer, one very much focused on the challenges in front of us”.

He also suggested that Malcolm Turnbull would have a “strategic involvement” in any budget cuts, rather than the more hands-on approach Tony Abbott took during his time in office.

What do you think of our new Treasurer’s statements? Do they make you hopeful or worried about what this could mean for the average Australian?

Starts at 60 Writers

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  1. MaMay I express my heartfelt gratitude to the Federal Government for its largesse in increasing my age pension by 36 and a half cents a day ie $1.46 for the period from September 20 to 23 September.In the words of Gomer Pyle “Thankee,thankee,thankee.” I can now enjoy an extra Brussel sprout a day. Yummy!

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  2. So let’s start with Parliamentary pensions and entitlements. No parliamentary pension before age pension age. All travel by public transport or economy class air. Removal of travel allowances for charity events like pollie pedal.
    The we should cut the defence budget – especially buying planes to bomb the middle east. After that close Manus and Nauru. Remove all subsidies to mining industries and insist that THEY build ALL the infrastructure they need.
    I guess that is a start if you wish to

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  3. Can he fix it? Well, he’s already proven he’s anti Australian, anti refugee, has no heart, won’t answer a straight question, lies through his teeth and keeps lying, knowing that if he says it often enough, the sheeple will believe him. And sadly, many do.

    Scott Morrison is the one who reminds me of pre-War Germany more than all the rest, and there have been a few. A very dangerous man, capable of doing untold harm to Australians. So no, I don’t see him fixing anything. Just continuing his damage.

  4. The words of Scott Morrison fill me with dread. What does he mean when he says he wants to unlock the capital of retired elderly people? Their capital is not locked up. It is invested in savings accounts, business, superannuation, annuities, and in property to give them an income after retirement. So their capital is invested in the development of Australia not stored under the bed. It sounds to me as if the new Treasurer is going to transfer the capital of the elderly individual person to the government coffers.

  5. He doesn’t actually seem to be saying very much at all. The Libs are going to have to take a long hard look at what’s already committed and how they withdraw without reversing the unpopular policies of the Abbott government.

  6. The expression on the face says it all. Not that it wasn’t already well known the lack of compassion. Shame!!

  7. Hey, this guy stopped the boats, not on my Christmas card list but I do believe he has the balls to make the tough decisions.
    Time will tell.

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