abc.net.au/news/budget-pressing-economic-challenge-soaring-power-prices-solution/101580628The Treasurer has certainly delivered on one promise in his first budget: he's begun some conversations. They're important conversations but also potentially politically dangerous. And where they might lead is unclear., the nation's balance sheet and, ultimately, the government.
From the ballooning cost of the NDIS to the broader problem of a worsening structural budget deficit, it's now up to the government to decide how brave it's willing to be. So far, the Prime Minister and Treasurer are cautiously stepping around the tax debate. They acknowledged the need tax reform but sought to put some guard rails around the debate.Jim Chalmers also plays down the prospects of collecting more tax from super-profitable gas companies, although points to the review still underway into the Petroleum Resource Rent Tax, which most economists agree isn't doing enough. Then there's the stage 3 tax cut, which remains politically difficult to touch.
The budget forecast electricity prices to rise a total of 56 per cent over the course of this financial year and next. It forecast gas prices to rise by a total of 44 per cent over the same period. This is the sharp end of the inflation problem, where it becomes painfully real, particularly for those on the lowest incomes. Households will end up paying hundreds of dollars more every quarter on these forecasts.
That's a pretty vile budget from a party you would expect to have more of a heart. It's amazing Chalmers can say it so calmly.
Wont be long before voter remorse kicks in now.
Back to you Speeeerrsy, with knobs on it.
If David Speers is an expert on budgets, what exactly are his credentials, economics degree or Murdoch hack?
Electricity should be cheap (almost free) with all the commitment to green solutions, I’ve been told 1MM times how free is the cheapest energy by far!
Step 1. Nationalise every coal-fired power station whose private owners have proposed closing. Step 2. Commit to their long-term operation. Step 3. Make the necessary capital investment to refurbish them as new.
Who will believe anything they say at the next election
Missed this bit Speersy
Wooohooo and your economic qualifications are Speers began his career in Geelong, Victoria in the newsroom of radio station K-Rock. Speers then worked at 2GB, 2UE ,3AW and a Murdoch stenographer.
Couldn't get any worse than what the last mob did to us, this is what we are seeing right now, Labor trying to fix all the mess that they inherited from Frydenstein.
Rupert runs the ABC by stealth
Never a surprise, rational minds never ever believed the hype of the renewable industry boosters who live off government subsidies or high prices to you and me.
Speers can outline the bleeding obvious, that has always been obvious. Solutions need to be found in power supply not by subsidies, paying subsidies is similar to playing blackmailers they always come back for more and more.
Need to face reality, renewables power will never be cheap and it will never be reliable. The sun and the wind maybe inexpensive as a source of power, but the collection , transformation to usable , storage , it’s distribution and it’s maintenance will always be expensive.reality
Solution is quite simple David_Speers . Stop pushing renewables and get back to coal. Climate emergency is a sham, chasing after the wind
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doing nothing is the new normal............the US trip was it
I'll give Labor a full term to fix the disgusting mess the LNP left Australia in.
Or real analysis from a non political player. David is lost in between and needs to go back to a commercial outlet
Labor budgets only make people poorer.
David speers, hey? 🤔🤣🤣
Good article by David Speers. Labor did make a promise of a drop in power prices while there was a war in Ukraine knowing it was not able to deliver. Also, they do need to do something about gas debacle like other countries have. Eg Super profits tax & use to subsidise bills
OK Rupert 🙄 ...like, really (I can't roll my eyes any harder) Sack Ita and bring back Aunty 😔
sackitasoon
This article lost me when it blamed Labor for a world wide problem Is this really the best impartial analysis Aunty can come up with ? Yesterday morning it was the fear Labor (architects of NDIS) had plans to shelve NDIS cause of rising costs This sort of stuff belongs on FOX
So Speersy , why not discuss the abject failure of the LNP’s privatisation of the Power Grid , and their hopelessly structured agreements when it comes to gas exploration and the royalties that are not being paid to the Australian people . So much for Scomo’s Gas Lead Recovery.
David Speers has an opinion.
Negative gearing is 'politically difficult to touch', stage 3 tax cuts to high income earners is 'politically difficult to touch'...but leaving jobseeker untouched is not an issue politically it seems...
Another 200 million for Ukraine Wow, some serious nest feathering going on there ja? Book deals anyone? Jobs for the boys n gals?
It’s not a surprise, It’s incompetence.
They acknowledged the need tax reform🙄
Four paragraphs voicing the LNP talking point about $275, no explanation of the nine years of LNP policy inaction or reversal to prepare us for the move to a renewable energy society. Speers analysis seems shallow and myopic and critical of Labor for not having all the answers.
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