Eleventy Joes speech in May 2012 - seems like there is a whole lot of FAIL in here, Eleventy... https://youtube/watch?v=apA8eO7WbrE&feature=youtu.be&t=20m40s Our Economic Plan Our Economic plan offers Australians a roadmap that delivers Hope, delivers Reward and delivers Opportunity in an uncertain world. 1. Improve Public Finances In the first place we will Improve Public Finances. Based on the numbers presented last Tuesday night we will achieve a surplus in our first year in office and we will achieve a surplus for every year of our first term. Our surpluses will be real. They will not be based on moving payments and revenue around in the same way this Government has in the Budget. Firstly, we will release all of our costed and verified policies and savings prior to the election day. Our public accountability on our promises will be of a higher standard than what the Labor Party offered the electorate in 2007. It will certainly be more accountable and more open to scrutiny than what the Labor Party offered at the 2010 election. Secondly, if elected, one of my earliest administrative tasks to improve public finances will be to meet with senior public servants to identify the real commercial value of the NBN and the Clean Energy Finance Corporation and their treatment in the Budget. Thirdly, we remain absolutely committed to the full privatisation of Medibank Private and we will proceed with the sale at the first responsible opportunity. Fourthly, we will immediately commence our program to consolidate Departments including merging the Department of Climate Change into the Department of Environment. We will not leave people uncertain about our changes within the public sector. Unlike Labor which dresses up redundancies as “efficiency dividends” we will not leave our hard working and quality public servants guessing about the impact of change. Fifth, within four months, the Commission of Audit will report on the findings of its top-to-bottom independent review of public spending to identify savings and efficiencies in addition to those we have already identified in Opposition. This is a one off Commission and not an ongoing quango. Sixth, we will initiate greater transparency in the budget numbers by publishing the structural deficit position in the Budget Papers and MYEFO each year. Seventh, in the first 100 days I will initiate a meeting with my Treasury counterparts in the States and Territories. This will be an essential first step on the much promised but rarely delivered commitment to better Commonwealth State Relations. I already have an excellent working relationship with most of the Treasurers but there will be much to resolve in confused areas of responsibility and expenditure such as infrastructure funding and the NDIS. I will make further announcements on other measures prior to the election. 2. Lower and Simpler Taxation The second pillar in our economic growth plan will be to have lower and simpler taxes. If we are elected to Government, our first task will be to repeal the Carbon Tax. No ifs and no buts and I have no doubt that this will pass through the Parliament. We will also repeal the Mining Tax. This structurally flawed tax is not what our economy needs. It will reduce our international competitiveness, it will impose a significant administrative burden even on companies which wont initially have to pay the tax; and it does not replace supposedly inefficient royalties, but instead builds in an additional layer of taxation on top of royalties and company tax. We will offer personal tax cuts on today’s personal tax rates that will not be funded by a carbon tax, but by prudent savings in Government expenditure. We will also offer a modest cut in company taxes. This too will be funded from the Budget and will not be funded by a carbon or mining tax. There will be a levy on large business to fund our participation enhancing Paid Parental Leave Scheme. Overall taxes will be lower under the Coalition when compared with Labor in the same financial year. Good tax administration is almost as important as the tax policies we put in place. Today I am also announcing a Coalition initiative that will provide the Tax office with a greater understanding of the practical implications of ATO decisions. There is a view that the ATO needs to draw on broader sources of expertise and perspectives, particularly in regards to its management, culture, business dealings, and other organisational matters, to improve its administration. There are concerns that the ATO has an inwardly focused culture and that it fails at times to appreciate the impact of its decisions on business taxpayers, including small and micro businesses. The Commissioner’s governance of the ATO is supported by three Second Commissioners of Taxation. The Commissioner and the Second Commissioners are seven year, statutory appointments. The Coalition will expand the number of Second Commissioners. While appointments will be based on merit, these four additional appointments (part time) will be individuals who have deep experience in the private sector. These Second Commissioners will be based outside of Canberra. Ideally they will include appointments from regional Australia and small business. I believe there is significant room for improvement in the way the ATO does its job. As an organisation with over 20,000 employees and extraordinarily broad legal and administrative powers it must be properly held to account. This initiative is just the start, I can foreshadow that the Coalition will have more to say in the policy space of tax administration ahead of the next election. 3. Boost Productivity The Coalition has a compelling strategy to help lift productivity. As the election approaches we will provide more detail on our six point productivity plan to grow the economic pie, and to provide incentives for innovation and investment. First we will undertake genuine welfare reform that will lift participation in work. We will also insist on work for the dole and there will be our Green Corps as part of our Direct Action Climate Change Policy. Second will be public sector reform to deliver better, more cost-effective services, including by repairing the now calcified Commonwealth State reform process. This includes my previously announced scheme for financial incentives for states to reduce costs in areas such as building and construction. The third step will be red and green tape reduction to cut business regulatory costs by at least $1 billion a year. And Tony Abbott recently announced a new one stop shop for environmental approvals for major construction projects, whilst maintaining high environmental standards. Fourth will be competition reform to ensure that large and small businesses are competing on a genuinely level playing field. Fifth will be infrastructure reform to ensure best value from Commonwealth spending. This will include mandatory cost/benefit analysis for projects over $100m. And the sixth, and final step, will be labour market reform to encourage higher pay for better work, including a re-instatement of the ABCC with all of its previous powers and resources. 4. Closer Engagement with Asia The fourth pillar in our plan for growth is a closer engagement with the world’s fastest growing economic region across Asia. Recently I gave a speech in Hong Kong which offered some initiatives that will facilitate that closer engagement. The Coalition believes that even though Australia is already a major supplier of iron ore, coal, and other commodities to the Asian region, we should be looking to broaden our trade links in services such as tourism, education, health and financial services. Tony Abbott added to these commitments in his Budget in Reply speech by pledging to work with State Governments to boost the number of year 12 school students studying foreign languages - particularly Asian languages - to 40 per cent within a decade. This very important initiative will enable more person to person commerce particularly in the services sectors. joehockey/media/speeches/details.aspx?s=99
Posted on: Sun, 14 Dec 2014 04:07:21 +0000
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