Keywords: Federal Budget
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PODCAST
We come to grips with the dismissal of FBI director James Comey. Is this about optics, process or something else? Then we turn to a more sedate pace in Australia, where the federal budget has neither damaged or boosted the Turnbull government. We finish with a few ways to stay intact in a tumultuous world.
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AUSTRALIA
Next year marks four decades since promulgation of the seminal Declaration of Alma Ata, which declared health to be a fundamental human right and laid the foundations for what are now widely championed as the social determinants of health. Without action on the social determinants, health policy can be a little like that joke about the cyclopean orthopod who, when confronted with a patient suffering fatal internal bleeding, is interested only in fixing their broken leg. So it is with last week's Budget.
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ENVIRONMENT
- Francine Crimmins
- 11 May 2017
7 Comments
When Scott Morrison announced the 2017-18 Budget this week there was one phrase he didn't dare to utter in his meticulously written and rehearsed speech. It's just two short words, climate change, but when used together they conjure a public debate even our minister for the environment gets tongued tied over. Morrison's omission of climate change in the federal budget has set a tone of ignorance to improving energy policy in a meaningful way.
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ECONOMICS
The $6.2 billion the government will raise through a levy on bank liabilities not only shows how out of favour banks have become, it is also, in effect, a de facto tax on property lending - a counterbalance to negative gearing and capital gains tax breaks. It is a tax on property lending because nearly all the banks' loans are mortgages for housing, or business loans secured with property. Of course the banks will pass the extra cost on to their customers, so it becomes a tax on borrowers.
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AUSTRALIA
- Julie Edwards
- 10 May 2017
5 Comments
'Labor-lite' or not, there are many investments contained in the budget which will work towards a more just society, including the securing of funding for the National Disability Insurance Scheme by raising the Medicare levy, and the needs-based approach to school funding, dubbed 'Gonski 2.0'. But among these commitments that seek to create a more equitable Australia, this budget again seeks to vilify welfare recipients, among the most vulnerable members of our community.
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AUSTRALIA
It would be nice to believe, as the Treasurer wants us to, that better times are around the corner. But while wages stagnate and company profits surge, inequality is at its highest since the 1950s. This is not going to get any better any time soon. By 2019, the highest income earners will have received an effective tax cut of 1.5 per cent compared to all other taxpayers who will be paying an extra 0.5 per cent. For young people especially, Budget 2017 boosts inequality instead of building a better future.
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RELIGION
- Frank Brennan
- 08 May 2017
1 Comment
Our Church is presently a strained, outdated social institution with an exclusively male hierarchy and clergy. But it is also the privileged locus for us to be called to the banquet of the Lord sharing theology and sacrament which have sustained the hearts and minds of similar pilgrims for two millennia. Thank God for Pope Francis who is showing us the way, helping us to find meaning in our changing and chaotic world, putting a fresh spring in the step of all those Catholics holding in tension the prophetic and the practical, the theological and the humanist, the tradition and the contemporary reality.
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AUSTRALIA
- Frank Brennan
- 07 May 2017
7 Comments
Part of the cost of the double dissolution election last July has been the creation of a Senate with the largest, most diverse group of crossbenchers ever. This will make the passage of any new contested Budget measures difficult, particularly given the Prime Minister’s vulnerability on his right flank, and the Labor Party's propensity to mimic the Opposition tactics adopted previously by Tony Abbott. The government needs to create a clear narrative as to how it will achieve equitable and sustainable growth through this Budget.
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PODCAST
On this episode, we take a moment to remember satirist John Clarke. Then we do an initial read of the story that the Australian federal budget might tell. We also break down that United Airlines incident. There might be detours, so stick close.
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INTERNATIONAL
- Fatima Measham
- 30 March 2017
5 Comments
This week, Trump signed the Energy Independence executive order, which amounts to open slather for oil drilling and coal companies. It turns off policy settings made under Obama, including a moratorium on coal leases on federal land and methane emissions limits in oil and gas production. It's a colossal setback, though it could play well in coal country. While Trump may declare he is '(cancelling) job-killing regulations', people will eventually find it is not emissions-related regulation that is killing jobs.
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AUSTRALIA
- Michael McVeigh
- 20 January 2017
7 Comments
Many have called for the automated Centrelink debt collection system to be scrapped, but the government is standing by it. One of the reasons for this may be that the system is doing just what it's designed to do - trying to force people away from welfare reliance by making it more onerous. Pope Francis argues that far from a 'neutral' tool, technology creates a framework which conditions people and limits their possible options along lines dictated by the most economically and politically powerful.
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INTERNATIONAL
- David James
- 09 August 2016
15 Comments
The main legislative catalyst for the GFC was the repeal, in 1999 by Bill Clinton, of the Glass Steagall Act, which had prohibited commercial banks from engaging in the investment business. This allowed the investment banks to indulge in the debauch of financial invention that almost destroyed the world's monetary system. Trump has made the reinstatement of Glass Steagall official policy. Should that happen, it could be the most beneficial development in the global financial system for decades.
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