The Budget (1 Viewer)

[monique66]

Here's the link:
http://www.budget.gov.au/

This should be good for studying for economics. Have a look at the recent stats to help you in your economics essays.

 

[Jago]

< 3

 

[know_it_all]

our class had a budget party today

 

[monique66]

hehe, we watched the budget speech and got notes on it

 

[Eagles]

hehe, we watched the budget speech and got notes on it

lol, we did that last year I slept.

 

[funnyperson1000]

Didn't really like the budget, did jack crap for poor families like me
Eco was fun today though, discussing last nights budget and teacher let us leave early just because it was budget day~~ ^o) haha

Better than celebrating mole day for chem, thats totally ludicrous

 

[monique66]

Didn't really like the budget, did jack crap for poor families like me
Eco was fun today though, discussing last nights budget and teacher let us leave early just because it was budget day~~ ^o) haha

Better than celebrating mole day for chem, thats totally ludicrous

mole day? Wtf? lol

 

[_muse_]

i tried watching it.. but it was way too boring. I bought the papers and stuff today though to have a look, but havent got around to it yet. I caught a lady on the radio this morning though complaining about how the single mums have to go back to work when their children reach school age, and she was going on about how if her child got sick she wouldnt be able to do anything cause she would be working and she doesnt have a car... yea.. i dunno, will have to read up about it

god damn.. wish i had eco today so i coulda had a budget party

 

[monique66]

hmmm..lets see, here are some basic stats:

Outlook for 05/06-
GDP: 3%
Unemployment rate: 5%
CPI: 2.75
CAD as a %of GDP: -5.25 (reduced from -6.50 last yr)

um...what i basically got from the budget was the govt was trying to contract agg D by decreasing their expenditure. At the same time, the effect of that will be slower eco growth. They are also encouraging saving by reducing tax on supperannuation and tax cuts.

Dunno if that was helpful, post anything else relevant plz (what was the predicted eco growth rate? Foreign debt?)

 

[Mandy101]

The Financial Review had a fantastic budget supplement. The SMH's and the Australian's were slightly thin, but still good.

 

[monique66]

*sigh* I feel like such a nerd

 

[funnyperson1000]

I believe the tax cuts will only increase spending rather than saving. Aggregate demand will go up and the reserve bank will have to put interest rates up again. Foreign debt is about 420 million now (over 50% of Australia's GDP), if interest rates don't go up this the debt and CAD will continue to rise. But then again, higher interest rates means lower economic growth and probably a downfall in the housing industry.

 

[HayleeKate]

but the foreign debt is [pretty much] all private so there's little the government can do about that.. except give greater consumable income to the wealthy who are the ones in control of the debt.. in the hope that they use all or some of the extra cash to pay off some of the debt.

 

[HayleeKate]

AND the tax cuts are likely to increase spending and put pressure on RBa to put interest rates up, which may chill the CAD

 

[monique66]

but the foreign debt is [pretty much] all private so there's little the government can do about that.. except give greater consumable income to the wealthy who are the ones in control of the debt.. in the hope that they use all or some of the extra cash to pay off some of the debt.

I'm pretty sure business taxes went up...

 

[sunjet]

our class had a budget party today

same .

 

[HayleeKate]

*sigh* I feel like such a nerd

claim it: nerdism is appreciated here.. economics isnt nerdy though, just intellectual and sauve

 

[sunjet]

claim it: nerdism is appreciated here.. economics isnt nerdy though, just intellectual and sauve

half of economics is general knowledge imo

 

[monique66]

half of economics is general knowledge imo

yeah, but what about the other half?

 

[sunjet]

yeah, but what about the other half?

some people are born with it