Financial Crisis

The first term of the Rudd Government is entering its end game and events in our nation’s playgrounds will have a huge bearing on whether it climaxes with high distinctions for the PM or a serious schoolyard brawl

The Prime Minister is right to claim swift action in avoiding the Global Financial Crisis was a major achievement in his first term, but now the focus is shifting to the way the government spent our way out of trouble.

In just about every school there are signs proudly declaring ‘Building an Education Revolution’ initiatives and as these projects are completed voters will be able to conduct their own cost-benefit analysis.

Continue reading "Rudd better start cutting spending as well as ribbons" »

With the beginning of the new financial year there are invariably small changes to our lives.

Many of these revolve around money. Things like tax cuts, rate changes and increases in family allowance benefits.

The middle of the year also gives us time for more personal reflection: it’s July and I still haven’t taken the bottles from my April birthday party to the recycling bin – just a random example.

But here is a list of ways that things have changed today and The Punch’s evaluation of whether we’re better off for it.

1. Crappy tax cuts introduced

Kevin Rudd committed to these tax cuts before the last election and now has to go through with them.

The promise was made in the heady days of economic boom time when we enjoyed daily joy rides in limousines with Paris Hilton and wore extinct animals on our heads. Now we’re dressing in possums and the best celebrity we can muster is Kochie giving some sage financial advice: “Here’s one folks, ever thought of knitting your dinner?”

Continue reading "For better or for worse: 10 things that changed today" »