The midyear economic and fiscal outlook (MYEFO) to be released this morning is expected show the budget deficit is at its lowest level since 2007-2008.

A lift in employment by 308,100 over the year to October 2018 and the lowest proportion of working-age people on welfare in 25 years is also adding to optimism that a surplus will be revealed in the April budget.

https://www.abc.net.au/news/2018-12-17/federal-budget-surplus-midyear-economic-and-fiscal-outlook/10625420

A good start for Bill next year   :)

And Bill's already spent it on dodgey Chinese batteries.

Bill Shorten is promising rebates to 100,000 households to help install batteries

https://www.9news.com.au/2018/11/22/07/34/bill-shorten-is-promising-rebates-to-a-100-000-households

Gordon wrote on Dec 17^th, 2018 at 8:40am:

And Bill's already spent it on dodgey Chinese batteries. Bill Shorten is promising rebates to 100,000 households to help install batteries https://www.9news.com.au/2018/11/22/07/34/bill-shorten-is-promising-rebates-to-a-100-000-households

;D ;D ;D ;D ;D

dont forget cheap housing for all.... ;) ;)

and wage increases   my fav..

cant wait for SUPER BILL    a regular Santa he is.

cods wrote on Dec 17^th, 2018 at 8:49am:

Gordon wrote on Dec 17th, 2018 at 8:40am: And Bill's already spent it on dodgey Chinese batteries. Bill Shorten is promising rebates to 100,000 households to help install batteries https://www.9news.com.au/2018/11/22/07/34/bill-shorten-is-promising-rebates-to-a-100-000-households ;D ;D ;D ;D ;D dont forget cheap housing for all.... ;) ;) and wage increases   my fav.. cant wait for SUPER BILL    a regular Santa he is.

$Bill $horten :)

Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend.

crocodile wrote on Dec 17^th, 2018 at 9:23am:

Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend.

I love how you pile drive people with reality

cods wrote on Dec 17^th, 2018 at 8:49am:

Gordon wrote on Dec 17th, 2018 at 8:40am: And Bill's already spent it on dodgey Chinese batteries. Bill Shorten is promising rebates to 100,000 households to help install batteries https://www.9news.com.au/2018/11/22/07/34/bill-shorten-is-promising-rebates-to-a-100-000-households ;D ;D ;D ;D ;D dont forget cheap housing for all.... ;) ;) and wage increases   my fav.. cant wait for SUPER BILL    a regular Santa he is.

or you could stick with the LNP recipe of paying off a million dollar house on minimum wages and casualized unsecure employment :D LOL

cods wrote on Dec 17^th, 2018 at 8:49am:

Gordon wrote on Dec 17th, 2018 at 8:40am: And Bill's already spent it on dodgey Chinese batteries. Bill Shorten is promising rebates to 100,000 households to help install batteries https://www.9news.com.au/2018/11/22/07/34/bill-shorten-is-promising-rebates-to-a-100-000-households ;D ;D ;D ;D ;D dont forget cheap housing for all.... ;) ;) and wage increases   my fav.. cant wait for SUPER BILL    a regular Santa he is.

Wage increase also flow on to salaries and contractor fees, cods - you getting enough out of your business at the moment?

Try to retain some perspective.....

crocodile wrote on Dec 17^th, 2018 at 9:23am:

Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend.

Surplus BUDGET - a guess at an outcome in Fairyland by a government riding on unicorns and wielding cooked books and figures.... that's why a genuine surplus is far, far away - that's what it's called, Don-kay ......... Far... Far ...AWAY!

You are correct that we hand over more than they spend on  Australia - the problem is they keep spending it on offshore loans and such with little to show for it in terms of real infrastructure and genuine progress via forward planning for the nation - REAL growth will only occur with a stop on immigration and allowing those already trailing to catch up and the economy (as it now stands in its underwear as a rump of what it was) absorbs all those willing to work - now that's growth.

WTF!!!!!!


Bill Shorten pledges $500 million to UN and confirms Labor will increase refugee intake

https://amp.canberratimes.com.au/politics/federal/bill-shorten-pledges-500-million-to-un-and-confirms-labor-will-increase-refugee-intake-20181217-p50moj.html

SHADOW treasurer Joe Hockey guarantees a coalition government will deliver a surplus in its first year (28/1/13)

What happened to this "guaranteed" surplus "in the first year"? Whatever happened to Hockey?

crocodile wrote on Dec 17^th, 2018 at 9:23am:

Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend.

I agree. Surpluses are overrated. How many did the Liberals' champion Menzies deliver? None.

Surpluses are usually a sign of problems somewhere in the economy.

Bam wrote on Dec 17^th, 2018 at 11:29am:

SHADOW treasurer Joe Hockey guarantees a coalition government will deliver a surplus in its first year (28/1/13) What happened to this "guaranteed" surplus "in the first year"? Whatever happened to Hockey?

It never happened, just like Swan.

I actually think that Swan's was even worse though, because at a point they were actually claiming that they "had delivered a surplus, on time as promised"; ie they were talking past tense as if it had already occurred.

Bam wrote on Dec 17^th, 2018 at 11:32am:

crocodile wrote on Dec 17th, 2018 at 9:23am: Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend. I agree. Surpluses are overrated. How many did the Liberals' champion Menzies deliver? None. Surpluses are usually a sign of problems somewhere in the economy.

Tax cuts are likely to be announced which will put money back in the pockets of people who earn it. Better than Shorten pumping 500m into the smacking UN!!!!

Gordon wrote on Dec 17^th, 2018 at 12:23pm:

Bam wrote on Dec 17th, 2018 at 11:32am: crocodile wrote on Dec 17th, 2018 at 9:23am: Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend. I agree. Surpluses are overrated. How many did the Liberals' champion Menzies deliver? None. Surpluses are usually a sign of problems somewhere in the economy. Tax cuts are likely to be announced which will put money back in the pockets of people who earn it. Better than Shorten pumping 500m into the smacking UN!!!!

What happened to "paying off debt"? Or was that another Coalition LIE?

I think it would be a political suicide and gross miscalculation if the coalition brings out surplus in may.  Because as it stands, in order to do that, there have to be deep cuts.   So the question is where the cuts is going to come from?

If they make cuts to concessions to the big businesses, - then, they are shooting at their feet.
If they make further cuts to the poor, the sick, the old and the unemployed, then, labor is going to have a field day, and they will be wiped out at the election which is like weeks after the budget. 

The only way out at the moment, is to introduce some sweeteners for middle class, and the working class.  Dont make harsh cuts to the welfare.  Perhaps go on a less than expected deficit, with projections to surplus in 2 years time.   Then, there may be some chance if they sell it right. 

tickleandrose wrote on Dec 17^th, 2018 at 12:55pm:

I think it would be a political suicide and gross miscalculation if the coalition brings out surplus in may.  Because as it stands, in order to do that, there have to be deep cuts.   So the question is where the cuts is going to come from? If they make cuts to concessions to the big businesses, - then, they are shooting at their feet. If they make further cuts to the poor, the sick, the old and the unemployed, then, labor is going to have a field day, and they will be wiped out at the election which is like weeks after the budget.  The only way out at the moment, is to introduce some sweeteners for middle class, and the working class.  Dont make harsh cuts to the welfare.  Perhaps go on a less than expected deficit, with projections to surplus in 2 years time.   Then, there may be some chance if they sell it right.

Unfortunately, the punters have been hoodwinked into the paradigm of "Surplus = good, deficit = bad". If one takes pause to examine the accounting side it simply means that Government surplus = private sector deficit". About time the truth was told.

Bam wrote on Dec 17^th, 2018 at 12:46pm:

Gordon wrote on Dec 17th, 2018 at 12:23pm: Bam wrote on Dec 17th, 2018 at 11:32am: crocodile wrote on Dec 17th, 2018 at 9:23am: Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend. I agree. Surpluses are overrated. How many did the Liberals' champion Menzies deliver? None. Surpluses are usually a sign of problems somewhere in the economy. Tax cuts are likely to be announced which will put money back in the pockets of people who earn it. Better than Shorten pumping 500m into the smacking UN!!!! What happened to "paying off debt"? Or was that another Coalition LIE?

A surplus is not a prerequisite for retiring debt.

crocodile wrote on Dec 17^th, 2018 at 1:01pm:

tickleandrose wrote on Dec 17th, 2018 at 12:55pm: I think it would be a political suicide and gross miscalculation if the coalition brings out surplus in may.  Because as it stands, in order to do that, there have to be deep cuts.   So the question is where the cuts is going to come from? If they make cuts to concessions to the big businesses, - then, they are shooting at their feet. If they make further cuts to the poor, the sick, the old and the unemployed, then, labor is going to have a field day, and they will be wiped out at the election which is like weeks after the budget.  The only way out at the moment, is to introduce some sweeteners for middle class, and the working class.  Dont make harsh cuts to the welfare.  Perhaps go on a less than expected deficit, with projections to surplus in 2 years time.   Then, there may be some chance if they sell it right.  Unfortunately, the punters have been hoodwinked into the paradigm of "Surplus = good, deficit = bad". If one takes pause to examine the accounting side it simply means that Government surplus = private sector deficit". About time the truth was told.

Boom!

Exactly right.

Gordon wrote on Dec 17^th, 2018 at 12:23pm:

Bam wrote on Dec 17th, 2018 at 11:32am: crocodile wrote on Dec 17th, 2018 at 9:23am: Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend. I agree. Surpluses are overrated. How many did the Liberals' champion Menzies deliver? None. Surpluses are usually a sign of problems somewhere in the economy. Tax cuts are likely to be announced which will put money back in the pockets of people who earn it. Better than Shorten pumping 500m into the smacking UN!!!!

You know why every new road is a tollway?
You know why infrastructure is 20 years behind where it should be?
You know why public hospitals are ALWAYS on the brink of collapse under the weight of patients?

Because tight arsed entitled people such as yourself ALWAYS think the $2.30 p/week(if your lucky) you'll actually get back in these "TAX CUTS" is better off in your pocket than providing services such as above.

You know there is a country available to your so called independent values where the user pays for EVERYTHING & it's not some far off 3rd world sh!thole (to paraphrase someone)

Its the USA, off you go

But I doubt you will, because when your sick you'll use medicare (even if you have PHI because.....excess)
You'll be the first to scream if you government(read taxpayer) funded pension is cut
Because like all these "better off in my pocket" nutjobs, your the 1st in line for a handout/subsidy/rebate etc call it what you want, it's a WELFARE(another dirty word IYO) from taxpayers.

Dsmithy70 wrote on Dec 17^th, 2018 at 1:02pm:

Gordon wrote on Dec 17th, 2018 at 12:23pm: Bam wrote on Dec 17th, 2018 at 11:32am: crocodile wrote on Dec 17th, 2018 at 9:23am: Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend. I agree. Surpluses are overrated. How many did the Liberals' champion Menzies deliver? None. Surpluses are usually a sign of problems somewhere in the economy. Tax cuts are likely to be announced which will put money back in the pockets of people who earn it. Better than Shorten pumping 500m into the smacking UN!!!! You know why every new road is a tollway? You know why infrastructure is 20 years behind where it should be? You know why public hospitals are ALWAYS on the brink of collapse under the weight of patients? Because tight arsed entitled people such as yourself ALWAYS think the $2.30 p/week(if your lucky) you'll actually get back in these "TAX CUTS" is better off in your pocket than providing services such as above. You know there is a country available to your so called independent values where the user pays for EVERYTHING & it's not some far off 3rd world sh!thole (to paraphrase someone) Its the USA, off you go But I doubt you will, because when your sick you'll use medicare (even if you have PHI because.....excess) You'll be the first to scream if you government(read taxpayer) funded pension is cut Because like all these "better off in my pocket" nutjobs, your the 1st in line for a handout/subsidy/rebate etc call it what you want, it's a handout from taxpayers.

Tax cuts aren't always revenue negative over time. Some of them have very significant deadweight losses.

Dsmithy70 wrote on Dec 17^th, 2018 at 1:02pm:

Gordon wrote on Dec 17th, 2018 at 12:23pm: Bam wrote on Dec 17th, 2018 at 11:32am: crocodile wrote on Dec 17th, 2018 at 9:23am: Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend. I agree. Surpluses are overrated. How many did the Liberals' champion Menzies deliver? None. Surpluses are usually a sign of problems somewhere in the economy. Tax cuts are likely to be announced which will put money back in the pockets of people who earn it. Better than Shorten pumping 500m into the smacking UN!!!! You know why every new road is a tollway? You know why infrastructure is 20 years behind where it should be? You know why public hospitals are ALWAYS on the brink of collapse under the weight of patients? Because tight arsed entitled people such as yourself ALWAYS think the $2.30 p/week(if your lucky) you'll actually get back in these "TAX CUTS" is better off in your pocket than providing services such as above. You know there is a country available to your so called independent values where the user pays for EVERYTHING & it's not some far off 3rd world sh!thole (to paraphrase someone) Its the USA, off you go But I doubt you will, because when your sick you'll use medicare (even if you have PHI because.....excess) You'll be the first to scream if you government(read taxpayer) funded pension is cut Because like all these "better off in my pocket" nutjobs, your the 1st in line for a handout/subsidy/rebate etc call it what you want, it's a handout from taxpayers.

Yes...time for a very deep breath and to suck it up.  We need to get that national debt fixed before worrying about tax cuts.

Aussie wrote on Dec 17^th, 2018 at 1:06pm:

Dsmithy70 wrote on Dec 17th, 2018 at 1:02pm: Gordon wrote on Dec 17th, 2018 at 12:23pm: Bam wrote on Dec 17th, 2018 at 11:32am: crocodile wrote on Dec 17th, 2018 at 9:23am: Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend. I agree. Surpluses are overrated. How many did the Liberals' champion Menzies deliver? None. Surpluses are usually a sign of problems somewhere in the economy. Tax cuts are likely to be announced which will put money back in the pockets of people who earn it. Better than Shorten pumping 500m into the smacking UN!!!! You know why every new road is a tollway? You know why infrastructure is 20 years behind where it should be? You know why public hospitals are ALWAYS on the brink of collapse under the weight of patients? Because tight arsed entitled people such as yourself ALWAYS think the $2.30 p/week(if your lucky) you'll actually get back in these "TAX CUTS" is better off in your pocket than providing services such as above. You know there is a country available to your so called independent values where the user pays for EVERYTHING & it's not some far off 3rd world sh!thole (to paraphrase someone) Its the USA, off you go But I doubt you will, because when your sick you'll use medicare (even if you have PHI because.....excess) You'll be the first to scream if you government(read taxpayer) funded pension is cut Because like all these "better off in my pocket" nutjobs, your the 1st in line for a handout/subsidy/rebate etc call it what you want, it's a handout from taxpayers. Yes...time for a very deep breath and to suck it up.  We need to get that national debt fixed before worrying about tax cuts.

Already been mentioned but surpluses are not required to pay down debt.

I think the public have since moved on from Suplus is good, deficit is bad mentality.  Right now, people want to pay down the debt, but they are just looking to see what sort of cuts is going to be associated with the surplus.   Labor is playing the game of against tax cuts for big business, saving it for the average battler.  Liberal is playing the game of giving cuts for big business to get jobs to the average joe.   Before, when there is mining boom, it may work because they can also afford to give handouts to the middle class.  But when that is finished, and labour managed to stablize its internal rift, Liberal is then in free fall. 

The Morrison Government must go!!!


Quote:

More mirage than good management, MYEFO fails to hit its own targets The Morrison government wants next year’s election to be about economic management. So understandably, it’s using the improved bottom line in the Mid Year Economic and Fiscal Outlook (MYEFO) to talk up its economic credentials. But the numbers in MYEFO show it has failed to hit many of its own targets.

:-? :-? :-?

https://theconversation.com/more-mirage-than-good-management-myefo-fails-to-hit-its-own-targets-108830

You don't need a surplus to pay down debt; you just need growth.

The government should be spending every cent it receives, otherwise we are paying surplus tax that buys us nothing. By all means, reduce the deficit after the economy picks up, but a surplus is waste.

Too many idiots still believe the lie that the federal budget is comparable to a household budget.

https://pbs.twimg.com/media/Du44WYlU0AEJ9Md.jpg

** still laughing**

crocodile wrote on Dec 17^th, 2018 at 9:23am:

Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend.

It does give them the opportunity to spend some on what needs to be done that they always say they cannot afford to do ?

Dnarever wrote on Dec 21^st, 2018 at 8:56pm:

crocodile wrote on Dec 17th, 2018 at 9:23am: Surplus = Tax revenue not spent. Sounds wonderful that we hand over more dosh to these lovely fellas than they actually spend. It does give them the opportunity to spend some on what needs to be done that they always say they cannot afford to do ?

That won't happen.