hocket fixes swan's rba plunder , page-7

"..Did the Libs ever take a dividend from the RBA?..tinnitus"

The Libs took on average almost $3b off the RBA each and every year.

The Labs took on average around $1.5b off the RBA each and every year.

For those that keep claiming government revenues were never hit from the GFC, the above figures definitely contradict those claims.

Just in the RBA revenue alone there was around a 50% hit to revenue.


I have to call BS on Hockey's reason for borrowing $8.8b all at once to give to the RBA.

Considering the government can provide cash to the RBA as it is required, there is no logical reason to borrow $8.8b all in one hit and give it to the RBA, it can only be a political motivated tactic.

It's definitely an attempt to pull the wool over the eyes of the gullible.

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$8.8b just sounds like political games to gain advantage by blame shifting.

Simply give the RBA extra money now and blame Labor.

When the Coalition deems necessary in one of their future budgets, take the money back.

They can claim the RBA don't need all the money and are just repaying what the government previously gave them.

By doing this the bottom line to a Coalition future budget improves by up to $9b, and the Coalition are heroes.

It may not be honest, but it is a good tactic for creative accounting purposes.


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Stephen Koukoulas

A cynic might say that Hockey’s actions are politically motivated.

By throwing money at the RBA now and adding hugely to the budget deficit in 2013-14, perhaps Hockey is hoping or expecting that in a couple of years, the RBA will divest some of this excess cash and will pay a divided to the government. An extra few billion dollars in 2015-16 or 2016-17 would do wonders to lock in a budget surplus, just before the next election.

http://www.businessspectator.com.au/article/2013/10/25/reserve-bank-australia/trouble-bolstering-rbas-reserves