Sunday, 30 August 2015

Steve From Brisbane was RIGHT

Very early on Steve from Brisbane called the Present Government as the worst of all time.

I am afraid the events last friday confirmed this.

Just remember this.
They inherited this from the previous Government.

Deficit as a % of GDP        1.9

Receipts as a % of GDP     24.0
Payments as a % of GDP   25.9

The latest budget figures ,which will be changed when MYEFO comes out in December, are.

Deficit as a % of GDP      2.1
Receipts as a % of GDP   24.0
Payments as a % of GDP 25.9

So the deficit has blown out ( Primarily because nominal GDP is so weak ( because of weak Terms of Trade) however since they poo pooed this in Opposition they cannot now give this an excuse!

They are getting more in tax than the previous Government ever did and are now spending as much the previous Government did without a GFC in sight.
The Kouk on debt

I was wrong Steve and you were right!