Acecant, I recall back in the 1970s a labour government, under Gough Whitlam, went on a similar out of control spending spree. The government was dismissed by the governor general, Sir John Kerr, following the opposition not passing the 'supply' in the lower house.
We have a similar circumstance, with rudd & co embarking on a reckless spree. They have now completely bankrupted this country. Yes, the ETS was dropped - but its intent was to raise $ to try to fund the government burgeoning debt. The ETS was aimed at every citizen. All rudd has done, with his 'super profit scheme' is shift his source of revenue to the mining and companies. But will it really be a source of $. ???
If I were runing a mining company, or any other company at present, I would be immediately downsizing, adding to the unemployment, and take my company o'seas to other mining sites I have there. Now that would mean a higher government debt due to less income (from the mining sector) and greater pay-outs to the unemployed.
Don't forget that Rudd has to fund the hospital scheme, through taking the states GST, creating another layer of bureaucracy, where no-one is accountable!!! (Methinks the first death knell for the state government) If the mining companies move o'seas, GST will be down.
Australia's two major assets are now in ruins. Agriculture is down the drain literally, with the water control and implementation of free trade. Mining is just about to go. Maybe we are heading to the sweat shop 'industry' ?employing you and I into our dotage.
(I acknowledge that some benefit has come from the water control, but also taxing all farmers for the rain that falls on their property and stored in dams for times of drought is one of the downsides of this strategy)
God help Australia if this current government is reelected and, as Wong wants, the ETS is introduced as well!!!
