BEST BITS
BEST BITS – 2022 Federal Budget Wrap Up
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What a week to start doing radio again, the first week back after a change of Federal Governments first Budget!
BROADCAST DATE: 27th October 2022
SHOW: #001
Now, I know most people hear the word “budget” and “report” in the same sentence, and that sentence also includes the word “politics” people glaze over with boredom!
But let me point this out, the Nation goes a little bat poop crazy around election time trying to vote a mob out, vote a mob in, change the balance of power, get their issues raised as more important during an election campaign, or get more spending for insert political issue here .
What surprises me is how little people then go on to care about budget night, you see, during an election a government in power or a government wanting to be elect starts promising a lot of random stuff, in fact most will have a few pet key issues that they push and push depending on polling they do of the public.
These parties when elect say that these issues that they pushed during an election campaign are part the reasons why they got elect and gives them, a “mandate” – now a mandate is not a date with a man, but rather an official order or commission to do something from the voting public to push forward with their election promises.
Come budget time, especially for a new government, it is our first look at wether or not a they keep true to their election promises, so in this segment, bare with me as I go through some a couple of key points made during the election campaign and then take a look at the budget and we’ll see just how well the government is going.
Electricity and our power bills In the lead up to the election the Labor government did promise to cut our bills by $275 by 2025 (AUDIO) will we get cuts?
Not any time soon with the government warning that power prices will go up by 50% and gas prices will go up too! So instead of cutting $275 a year, it is expected that we will be paying $1000 more a year in electricity and about $600 in gas with black out warnings already being given.
And when asked about the $275 cut in power prices at the press club in Canberra by the media the day after the budget, (PLAY AUDIO) the $275 saving on energy bills, the Finance Minister, Jim Charmers said when asked was and I quote, “its n the budget” … when questioned about this by the opposition finance minister in question time.(AUDIO) miss-heard the question!
That’s a big whoopsie and that also seems to be the way Labor deals with things when getting caught out telling fibs to the media. Now, where have we heard this kind of excuse before… oh that’s right on the election campaign (AUDIO).
Fun fact – On 97 occasions before the federal election, Labor promised the power bill cut to all Australian households and businesses.
Even though the $275 figure referred to the price in 2025, but for this election promise to come true, the average NSW customer bill would need to drop by $1, 367 between 2024 and 2025.
Chalk this up as an election promise FAIL. COST OF LIVING Now to cost of living (AUDIO) A HUGE election promise from the labor government a mandate if you will to help give the Australian public who voted them in cost of living ease… well, cheaper child care, paid parental leave, cheaper medicine, housing affordability in the form of 1 million new homes built over five years, beginning in 2024, wage growth for aged care workers and funding to support increases to award wages.
Are the promises by the government to do something about cost of living in the 2022 budget, As for everyone else, nothing.. and with increasing interest rates, inflation and mortgages.
Things are going to get tough. Especially as it is predicted that there will be job losses as unemployment will rise to 4.5% – that 140,000 people losing their jobs in the next year.
The budget also announced cuts of over 9 billion dollars from regional infrastructure spending, Motorists – petrol prices are expected to rise, renters will lose out too as rents go up and truck drivers will be slugged an extra .8 cents in tax for every litre of diesel fuel they buy with Labor increasing the Heavy Vehicle Road User Charge – which will most certainly be passed onto consumers – we will pay more at the check out. There was some good news, we are told however that the bottom line is rosier than previously expected with the deficit for 2022/23 now forecast to hit $36.9 billion.
This is less than half the $78 billion that was forecast in the March budget delivered by the former Coalition government. There was another win, the community broadcasting sector will receive an additional $4 million per year of ongoing funding for the Community Broadcasting Program from 2023-24.
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