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LETTER: Not financial managers

Sir, – Anne Webster, The Weekly Advertiser, May 4, says, at taxpayers’ expense, the LNP government are responsible financial managers that deliver lower taxes. 

Really? According to figures published by the Federal Treasury, the highest taxing government in the past 50 years was the Howard LNP coalition. The second highest, the Abbott-Turnbull-Morrison era. 

With regard to unemployment, the average of the Abbott-Turnbull-Morrison years was 5.7 percent, whereas the Rudd-Gillard-Rudd years were 5.1 percent. 

However, interest rates under the current government era average 5.2 percent, but Rudd-Gillard-Rudd averaged 7.23 percent. 

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So, interest rates have been lower under the LNP. 

In terms of budget deficits, the last two from the LNP are the biggest on record. 

In terms of debt, the Rudd-Gillard-Rudd governments left office with debt at 20 percent of GDP. 

Before the COVID-19 pandemic, under the Coalition, it had ballooned to 28 percent and now it is 40 percent of GDP. 

Under the LNP, inflation is running at more than five percent, the highest in 20 years, partly due to their budget and furious election campaign spending. 

I might add neither the LNP nor Labor have put any strong policies in place to pay back this burgeoning debt and firewall us against the next pandemic or disaster. 

This is what a responsible government would do. 

A fantastic start would be to claw back the $39-billion in Job Keeper overpayments from companies that were not entitled to their payments, second, cancel the Stage Three tax cuts on track to cost $37-billion annually by the early 2030s. 

This gives someone earning more than $200,000 a tax cut worth $9075 a year. 

And the top 10 percent of income earners will get more than half of the value of all of the cuts. 

But the Prime Minister thinks that a minimum wage rise of five percent is dangerous. 


Rob Blakeley, Horsham

The entire May 18, 2022 edition of The Weekly Advertiser is available online. READ IT HERE!