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#1 2016-04-18 17:57:43

mmm....shiney!
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Australian State debt

Frightening stats showing the level of debt that our State governments are in, especially for Qlders.

Queensland $85.9 billion
NSW $56.9 billion
WA $38.9

http://www.bloomberg.com/news/articles/ … record-low

Queensland is screwed.


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#2 2016-04-18 18:00:50

SpacePete
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Re: Australian State debt

mmm....shiney! wrote:

Frightening stats showing the level of debt that our State governments are in, especially for Qlders.

Queensland $85.9 billion
NSW $56.9 billion
WA $38.9

http://www.bloomberg.com/news/articles/ … record-low

Queensland is screwed.

The solution is obviously more complex financial instruments, population growth and more tax.


Catus amat piscem, sed non vult tingere plantas

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#3 2016-04-18 21:12:53

Golden ChipMunk
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Re: Australian State debt

SilverPete wrote:
mmm....shiney! wrote:

Frightening stats showing the level of debt that our State governments are in, especially for Qlders.

Queensland $85.9 billion
NSW $56.9 billion
WA $38.9

http://www.bloomberg.com/news/articles/ … record-low

Queensland is screwed.

The solution is obviously more complex financial instruments, population growth and more tax.

Don't forget the thing call LEVY, introduce in a form of taxes


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#4 2016-04-18 21:14:16

SpacePete
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Re: Australian State debt

Oh yeah, more levies.


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#5 2016-04-18 21:31:48

Golden ChipMunk
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Re: Australian State debt

2.3

2.3 Many Australian taxes
Australians pay at least 125 different taxes each year. Of these, 99 are levied by the Australian government (including 67 agricultural levies), 25 by the States and 1 (council rates) by local government. The exact number of taxes is difficult to determine and may be higher than these estimates. This reflects ambiguity in distinguishing when a payment to government represents a separate tax or part of a broader tax and whether a payment is a tax rather than a fee for service (see Box 2.2 for further discussion). The estimates above take a conservative approach to these issues and therefore may understate the number of taxes paid by Australians.

Similarly, the estimates treat equivalent taxes levied by different States as one tax rather than up to eight different taxes. From the perspective of individuals or businesses operating across more than one jurisdiction, equivalent taxes levied by different States might be viewed as separate taxes, since they need to be accounted for separately and typically differ in terms of rates, thresholds and exemptions. Viewed from this perspective, there could be as many as 160 different state taxes (excluding local government rates) and 259 taxes nationally (excluding local government rates).


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#6 2016-04-18 21:38:17

Kooka
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Re: Australian State debt

Yes, in Qld we had many years of Labor gov and somehow in the middle of the biggest mining boom in history they managed to just about send the state broke.

The answer for Queenslanders, there is no one simple one just get used to the idea of your great grandchildren still paying off that debt.....

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#7 2016-04-19 07:46:06

mmm....shiney!
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Re: Australian State debt

And just as frightening are the "expert" journos who argue that government debt is good because government expenditure is needed to stimulate the economy in times of economic downturns, or that most households operate in debt so it makes sense to do the same with government.

Massive fail.

Edit to add: or what about those who say that government debt in Australia is not really an issue when you compare it to the debt/GDP ratios that other countries have?  roll

Last edited by mmm....shiney! (2016-04-19 07:48:34)


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#8 2016-04-19 18:15:54

Clawhammer
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Re: Australian State debt

Kooka wrote:

Yes, in Qld we had many years of Labor gov and somehow in the middle of the biggest mining boom in history they managed to just about send the state broke.

The answer for Queenslanders, there is no one simple one just get used to the idea of your great grandchildren still paying off that debt.....

If it's an option, you can always get out!? Just pull up stumps and move somewhere cheaper to live.
Ana Bligh shat in the nest, there no reason we have to sit in it. Even she left the state! (She even left her husband, when it was no longer convenient for her!)
The State Govt is totally insane. They were throwing everything they could at shutting down Clive Palmer's Yabulu, they were in court over environmental issues... then when it fell over due to commodity prices (like Whyalla, the Coalmines etc) they're saying how they were trying their best to keep it afloat. The EPA who were trying to shut down QNI over floodwater discharge, then approved an Environmental Authority transfer in just 2 days!!!(which normally takes at least 8 weeks). That raised a lot of eyebrows amongst we that have to spend months and years jumping through flaming hoops for Development Approvals

There are no rules when it comes to the Qld Govt. machine... just whatever suits them... and saying "no" and destroying the state is what seems to suit them. I've nearly given up trying to do business in Queensland.. the Govt. just makes it too hard!

Last edited by Clawhammer (2016-04-19 18:25:43)


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#9 2016-04-20 17:57:00

mmm....shiney!
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Re: Australian State debt

This is an example of why Qld has no future, protecting the market for encumbents and restricting new players ifrom entering the market. Typical national socialist policy that is evident on all sides of parliament in this State that in the end harms consumers. They seriously are a bunch of tossers around here.

Qld Uber drivers to face harsher penalties

Qld Uber drivers to face harsher penalties

Uber drivers in Queensland will face a government crackdown, with stronger penalties to be enforced and more powers given to transport inspectors.

Queensland's parliament on Wednesday night knocked back a Katter's Australian Party bill to punish drivers who operate an illegal taxi, including ridesharing services like Uber, by issuing them with demerit points.

However, it did support government amendments to the bill to increase fines for drivers from $1413 to $2356.

The amendments will increase penalties for Uber as well, with fines for the company increasing from $18,848 to $23,560.

snip

Bob Katter wrote:

We will not tolerate businesses arrogantly bypassing our laws to take advantage of existing businesses that we have in this state," he told parliament in front of a packed public gallery that included taxi drivers and owners.

The intent of the legislation is supported by both sides of parliament. This is why I don't vote.


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#10 2016-04-20 18:04:36

SpacePete
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Re: Australian State debt

mmm....shiney! wrote:
Bob Katter wrote:

We will not tolerate businesses arrogantly bypassing our laws to take advantage of existing businesses that we have in this state," he told parliament in front of a packed public gallery that included taxi drivers and owners.

The intent of the legislation is supported by both sides of parliament. This is why I don't vote.

Interesting quote from Katter. It seems he is saying they have created laws that are protectionist, and that the spirit of those laws is to punish competition.  He is demonizing competition and calling businesses arrogant, implying they are criminals (not law-abiding).


Catus amat piscem, sed non vult tingere plantas

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#11 2016-04-20 18:29:12

SilverDJ
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Re: Australian State debt

Tax the churches, and tighten the screws in big business tax avoidance.

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#12 2016-04-20 19:01:53

trew
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Re: Australian State debt

i wonder how much the taxi drivers donated to the Katter party

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#13 2016-04-20 21:52:38

mmm....shiney!
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Re: Australian State debt

SilverPete wrote:
mmm....shiney! wrote:
Bob Katter wrote:

We will not tolerate businesses arrogantly bypassing our laws to take advantage of existing businesses that we have in this state," he told parliament in front of a packed public gallery that included taxi drivers and owners.

The intent of the legislation is supported by both sides of parliament. This is why I don't vote.

Interesting quote from Katter. It seems he is saying they have created laws that are protectionist, and that the spirit of those laws is to punish competition.  He is demonizing competition and calling businesses arrogant, implying they are criminals (not law-abiding).

Katter is an out and out protectionist. He has a history of advocating for legislation that enhances the rights of special interest groups at the expense of others eg ethanol.

He voted in favour of the closure of local waters to commercial netting, a move designed to enhance the position of the recreational fishing industry and tourism industry at the expense of ommercial fishers, seafood operators and consumers and whilst the LNP was opposed to Labor's legislation on that issue and voted against it, they only did so because they were unhappy with the consultation process as opposed to the closures themselves.

We have a State that has protectionists on both sides of the floor and on the cross-benches. We have no Upper House to protect us from crony legislation and now we will have fixed 4 year terms after the recent referendum to change the term of parliament was approved by a majority of Qlders. hmm


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#14 2016-04-21 00:10:59

errol43
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Re: Australian State debt

So we owe $85,8 billion do we? True but Qld has over $70 billion in QDC. Ok this money is for Super payouts .  Most other states have unfunded super which means that their super payouts come out of annual government taxes.

Joh set this QDC up and both the red and blue have continued with investing super contributions into the QDC.

It is expected now that an election looms that the blue team supporters start talking about debt.



















regards Errol 43

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#15 2016-04-21 00:26:43

Clawhammer
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Re: Australian State debt

But its not $85B in cash sitting in an account somewhere.
It's $85B in investments... like state forests, ports, shares & Bonds etc.
Selling these assets would cause a bigger problem for the state than the debt is alone.


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#16 2016-04-21 05:09:19

mmm....shiney!
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Re: Australian State debt

Didn't Bligh sell many of the State forests to a Canadian company?

Or maybe it was just the pine plantations.

Last edited by mmm....shiney! (2016-04-21 05:09:45)


The woolgrower's target shall be the good thriving of his flock and its pastures, and so of himself and those whose livelihoods depend on his enterprise.
"The Woolgrower's Companion", 1906.

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#17 2016-04-21 08:18:58

errol43
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Re: Australian State debt

Clawhammer wrote:

But its not $85B in cash sitting in an account somewhere.
It's $85B in investments... like state forests, ports, shares & Bonds etc.
Selling these assets would cause a bigger problem for the state than the debt is alone.

It is surprising just how much of the QDC ASSETS ARE in other states:) Like NSW and VIC.. No comments on the unfunded super  ponzi schemes in other states...They have nothing left of investments because they don't have any. The Future fund takes care of all Federal Super payouts..Hope Peter Costello has invested wisely just like the QDC.

Now the majority here seem to be against borrowings. Well IMO it all depends on what governments spend it on...Now former Qld premier Joh borrowed money for the rail Line from the CQ coal fields to ports to export the coal..When it was up and running Qld was receiving $26 a tonne for all coal carried by Qld Rail...Paid it off in no time at all and then it was the on gravy train for many years..

When is a Federal Government going to build a state of the ark asset for all Australian people...EG High speed Rail or the Radford irrigation scheme.

No the reds and the blues will talk about unions, banks, health, education ,welfare and defence...Meanwhile other countries go on their merry way building 21st century rail systems and fast broadband.

Regards Errol 43

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#18 2017-02-16 21:22:59

JulieW
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Re: Australian State debt

Is this actually a thanks for everything appointment?

Former Queensland Labor premier Anna Bligh has been named the new chief executive of the Australian Bankers Assocation.

Bligh, who will become the group's first female chief executive on 3 April, said she was excited to "lead and shape" reforms to strengthen the public's trust and confidence in Australia's banking system. Federal Labor has been pushing for a royal commission into the industry.

"Our banks are critical to the strength and stability of our national economy and the prosperity and wellbeing of every Australian," Bligh said in a statement. "We all rely on our bank for the most important financial decisions of our lives so we want a system that is open, fair and trustworthy."
George Christensen says he will cross floor to back banking inquiry
Read more

The ABA cited Bligh's leadership and community service when it announced her appointment on Friday.

"She is highly regarded and respected by community, political and business leaders and understands the need for all stakeholders to work together to deliver the best outcome for customers," chairman Andrew Thorburn said.

Bligh, 56, was Australia's first popularly elected female premier but retired from politics in 2012 when she led Labor to the worst defeat of a sitting government in Queensland's history.

https://www.theguardian.com/australia-n … ssociation

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#19 2017-02-16 22:51:01

errol43
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Re: Australian State debt

Unfunded Super! Still a problem for every State bar Qld? QDC assets are not only in Qld but also in NSW and VIC.

I suppose the blue team in MSM will tell the truth about the real situation about all state debt now that state elections are near!

Now local Council debt is a horror story! Here in Bundaberg the Council owes $70 million dollars and yet receives less than $5 million in rate revenue...Thank God for subsidies from both the Federal and State Governments!  If the interest rate ever goes up to average all time levels, is it is all over?

Regards Errol 43

Last edited by errol43 (2017-02-16 22:51:38)

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#20 2017-02-16 23:15:35

SpacePete
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Re: Australian State debt

errol43 wrote:

Unfunded Super! Still a problem for every State bar Qld? QDC assets are not only in Qld but also in NSW and VIC.

I suppose the blue team in MSM will tell the truth about the real situation about all state debt now that state elections are near!

Now local Council debt is a horror story! Here in Bundaberg the Council owes $70 million dollars and yet receives less than $5 million in rate revenue...Thank God for subsidies from both the Federal and State Governments!  If the interest rate ever goes up to average all time levels, is it is all over?

Regards Errol 43

If council debt is so high, can they raise rates to emergency levels?


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#21 2017-02-17 04:10:10

errol43
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Re: Australian State debt

SpacePete wrote:
errol43 wrote:

Unfunded Super! Still a problem for every State bar Qld? QDC assets are not only in Qld but also in NSW and VIC.

I suppose the blue team in MSM will tell the truth about the real situation about all state debt now that state elections are near!

Now local Council debt is a horror story! Here in Bundaberg the Council owes $70 million dollars and yet receives less than $5 million in rate revenue...Thank God for subsidies from both the Federal and State Governments!  If the interest rate ever goes up to average all time levels, is it is all over?

Regards Errol 43

If council debt is so high, can they raise rates to emergency levels?


They will if they don't get $$$$$$ grants from the Federal and State governments.

Regards Errol 43

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