A strong economy the only way to sustainably manage Australia s finances 18/05/2021|12min
Finance Minister Simon Birmingham has touted the Morrison government’s big spending budget to boost assist the nation’s post-pandemic recovery which was unveiled in the federal budget last week.
Asked about the significant deficit, Mr Birmingham said “we’re also using this current time to lock in some of that debt at those low levels so long term arrangements in terms of our debt financing to be able to provide some stability and certainty”. “Of course those debts that we already has as they roll over being locked in at lower interest rate levels as well in terms of the servicing costs.
MICHAEL MOORE.
THERE are a series of self-serving indicators that Prime Minister Scott Morrison will go to an early election. They all serve as a reminder of the need for fixed-term elections for the federal government.
The middle ground is where elections are won and lost. Over the last few decades the Liberal Party has been deserting this ground in favour of a more and more conservative approach to politics.
Michael Moore.
During that time the conservative elements of the party pejoratively labelled the liberal elements as “wets”. These “wets” included former NSW Senator Peter Baume and, in the ACT, former chief ministers Kate Carnell and Gary Humphries.
Australian Finance Minister Confident of Keeping AAA Credit Rating
Finance Minister Simon Birmingham is confident Australia will retain its AAA credit rating after the government last week unveiled a big spending program with the release of the 2021-22 federal budget.
When asked on whether the government would be responsible for a possible downgrade of its credit rating after the release of the budget, Senator Birmingham responded, “We are not expecting that to happen.”
“The rating agencies themselves issued their own statements, in their own words, last week in which they were very positive about the government’s strategy in this budget and the approach we are taking,” he told Sky News Australia.
Liberal Party is full of Dries, and dripping Wet policies
Share
One policy area demonstrates the weakness of fiscal conservatives within the modern Liberal Party more than any other: superannuation.
The Morrison government’s decision, in this year’s budget, to allow the proportion of wages set aside for compulsory savings to rise from 9.5 per cent to 12 per cent was a repudiation of Liberal backbenchers who once would have been known as “Dries”.
Treasurer Josh Frydenberg’s colleagues do not refer to him as a fiscal conservative.
Alex Ellinghausen
The policy environment seemed ripe for change. An independent review had argued persuasively that superannuation increases would come from wages. Even the superannuation lobby conceded the point. Weak wages growth was, and continues to be, one of the biggest economic challenges.
‘Best strategy’ for wages growth is more employment: Finance minister16/05/2021|12min
Finance Minister Simon Birmingham says increasing the number of Australians working is the best way to boost wages.
Mr Birmingham told Sky News there was a “record number” of Australians in jobs but there was room for more.
“The best strategy to boost wages is to get as many Australians into jobs as possible and to create that tension in the labour market that drives potential wages growth into the future,” Mr Birmingham said.
“That is exactly the strategy that we are pursuing – driving that employment growth up, unemployment down below five per cent.