Now lets look at the possibility of them getting us back in surplus in 4 years time.
Our chief exports are iron ore and coal and we have to have a view on them over he next 4 years. If we believe what we are being told about increased supplies of iron ore and coal out of Africa and increased coal out of Mongolia and that China's rate of growth is slowing, then what we have now is as good as it gets and as we approach 2017, our revenue from iron ore and coal will drop.
We are told that the rest of our economy is virtually in recession and two interest drops this year with an increase in unemployment seems to confirm that.
And now lets look at Queensland that has had a Liberal Government for a year. While there has been severe cutbacks in spending and mass sackings , State debt is still increasing towards $70 billion and would be much higher only for selling more State assets.(selling the silverware)
IMO, we need a visionary government like Japan, Korea and Germany post WW2 that will lead our industrial and commercal development; not follow it. We have the resources both natural and human; all we need is vision and a 20 year plan.
We are contemplating expensive changes to our education system yet we finance and allow teenagers to choose what the want to study rather than refer to our 20 year plan and say: this is what is needed and this is what the taxpayer will subsitise: anything else and you are on your Pat Malone. The recent spate of 457 visas is evidence of the failure of our techs and universities.
So in sunmmary, Mr Abbott and Co need to have a better plan than simply saying that they'll bring back the budget to surplus. They need to be saying that they'll bring back the budget to surplus by growing the economy and making it more efficient and not through austerity measures like Campbell Newman's Queensland or EZ States which drive economies backwards.
