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buzzanddidj

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1365 - Apr 28^th, 2011 at 8:11am

Verge wrote on Apr 27^th, 2011 at 5:11pm:

Seems like the reviews are warranted.

AN "independent" report on the Victorian economy has been branded insulting by shadow treasurer Tim Holding in a defence of Labor's economic record in government.

The interim report, released yesterday, found that the state budget would have been in deficit of about $1 billion for the past two years if not for federal stimulus money during the financial crisis, and that the Baillieu government would have to borrow to pay the wages of public servants if it did not cut spending.

But Mr Holding, who was a minister in the Bracks and Brumby governments, said the report tried to suggest that Victorians had been misled and information concealed.

''This suggestion … is an insult not just to the former government, it's an insult to the Department of Treasury and Finance … and it's an insult to the Auditor-General,'' he said.

His rebuttal came as Premier Ted Baillieu would not guarantee next week's budget would not bring a smaller public sector through natural job attrition.

Mr Holding said Mr Baillieu, soon after coming to office, had declared there were no surprises in the state's financial position.

He accused the Premier and Treasurer Kim Wells of a charade to

''butter up Victorians''

to wriggle out of under-costed election promises.

The review of the state's finances is being chaired by

Aurora Energy director, Dr Michael Vertigan

- assisted by retired former

Hydro Tasmania director, Don Challen

and

Access Economics' Ian Harper

http://www.theage.com.au/victoria/opposition-slams-report-on-economy-20110427-1d...

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Verge Gold Member Offline Australian Politics Posts: 6329 Gender:	Re: Baillieu: "We Can Do Better" (or maybe n Reply #1366 - Apr 28^th, 2011 at 9:13am Deal with it Buzz, an independent review proves the Vics ALP had cooked the books all along, and now you cant handle the truth and either can your best mates in the ALP while in opposition. Its obvious it took time to find all the cover ups, and you just dont like the facts do you.
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buzzanddidj

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1367 - Apr 28^th, 2011 at 10:13am

Verge wrote on Apr 28^th, 2011 at 9:13am:

Deal with it Buzz, an independent review proves the Vics ALP had cooked the books all along, and now you cant handle the truth and either can your best mates in the ALP while in opposition.

Its obvious it took time to find all the cover ups, and you just dont like the facts do you.

I ONLY like "the facts"
That's why I'm dubious of three private enterprise, company board members being given control
Any "review" should be done by

Victorian Treasury

(and not have

sections blacked out

- like the last

comic book

from the Treasurer)

If the Government wants any "reviews" it must be prepared to release

ALL the details - and not just it's own summary/interpatation

The Liberal Party doesn't have a great accuracy when appointing "mates" to tackle matters finanacial

Tony Abbotts

BIG BLACK HOLE

($10 billion) in the policy costing for the last election comes to mind

And you can't

"cook the books" for 12 years

, have the

lowest unemployment rate

(on average) and maintain a

AAA+

rating from two of the world's most respected credit agencies without it all falling apart

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« Last Edit: Apr 28^th, 2011 at 10:20am by buzzanddidj »

'I like your Christ, I do not like your Christians.
Your Christians are so unlike your Christ.'

- Mohandas Karamchand Gandhi

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Verge

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1368 - Apr 28^th, 2011 at 10:21am

One more time, for the buzzard.

Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1362 - Yesterday at 5:10pm An independent report on Victoria's finances has described the position as "vulnerable" and "unsustainable", with a growing debt that will need to be repaid.

The report, commissioned by the Coalition government after it ousted Labor from of office in the November 2010 election, makes key findings that include Victoria having a growing debt and insufficient investment in infrastructure.

It also says trend growth in expenses has outstripped trend growth in revenues but has been "obscured" by federal economic stimulus funds.

"Victoria's stock of debt has risen markedly over the past three years ... This will need to be repaid by the current generation," the report says.

"Victoria's financial position is unsustainable into the medium term ... Finances are, at present, particularly vulnerable to changes in economic circumstances and are not well-placed to absorb another material financial shock."

The report is an interim report of the Independent Review of State Finances, with the final review due in February next year.

Treasurer Kim Wells said that on top of the interim report's findings, Victoria also faced a further $4.1 billion fall in GST revenue and the deferral of $550 million in federal infrastructure payments.

This meant it faced a $4.65 billion revenue shortfall over the next four years, compared with what had been predicted in last December's 2010/11 Budget Update.

"The report confirms that the Brumby Labor government's spending over the past decade outpaced revenue," Mr Wells said in a statement.

"If the Brumby government continued to take Victoria down this path, the state would be forced to borrow just to pay ongoing expenses by 2015/16."

He also said it was clear the former government had failed to adequately invest in vital infrastructure.

"In the forward estimates for the budget, Labor failed to allocate enough funding just to maintain the existing level of capital stock and no funding to meet the needs arising from population growth, service enhancements, or price adjustments."

An opposition spokeswoman said Premier Ted Baillieu had inherited a AAA rating budget given by independent agencies.

"Mr Baillieu might be able to afford to undermine Victoria's economy but businesses and families can't afford to have a government that is intent, for a political purpose, on destroying the state's hard won reputation for financial management," the spokeswoman said in a statement.

Mr Wells said the government would consider the interim report findings and recommendations over coming months and would implement a strategy to reduce debt over time, increase infrastructure investment and put Victoria's finances on a sustainable footing.

The interim report recommends developing a transition plan that includes getting rid of government net debt in 10 years.

The review of the state's finances is being conducted by chairperson Dr Michael Vertigan, Don Challen and Professor Ian Harper.

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buzzanddidj

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1369 - Apr 28^th, 2011 at 10:26am

AN "independent" report on the Victorian economy has been branded insulting by shadow treasurer Tim Holding in a defence of Labor's economic record in government.

The interim report, released yesterday, found that the state budget would have been in deficit of about $1 billion for the past two years if not for federal stimulus money during the financial crisis, and that the Baillieu government would have to borrow to pay the wages of public servants if it did not cut spending.

But Mr Holding, who was a minister in the Bracks and Brumby governments, said the report tried to suggest that Victorians had been misled and information concealed.

''This suggestion … is an insult not just to the former government, it's an insult to the Department of Treasury and Finance … and it's an insult to the Auditor-General,'' he said.

His rebuttal came as Premier Ted Baillieu would not guarantee next week's budget would not bring a smaller public sector through natural job attrition.

Mr Holding said Mr Baillieu, soon after coming to office, had declared there were no surprises in the state's financial position.

He accused the Premier and Treasurer Kim Wells of a charade to

''butter up Victorians''

to wriggle out of under-costed election promises.

http://www.theage.com.au/victoria/opposition-slams-report-on-economy-20110427-1d...

Quote:

The review of the state's finances is being chaired by

Aurora Energy director, Dr Michael Vertigan

- assisted by retired former

Hydro Tasmania director, Don Challen

and

Access Economics' Ian Harper

INDEPENDENT ?

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'I like your Christ, I do not like your Christians.
Your Christians are so unlike your Christ.'

- Mohandas Karamchand Gandhi

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Verge

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1370 - Apr 28^th, 2011 at 2:43pm

Buzz really cant handle anything negative about his precious Brumby.

One more time for the road people, just incase people care what a bloke who gets lost in the mountains and costs the tax payers thousands tries to deflect about

The report, commissioned by the Coalition government after it ousted Labor from of office in the November 2010 election, makes key findings that include Victoria having a growing debt and insufficient investment in infrastructure.

It also says trend growth in expenses has outstripped trend growth in revenues but has been "obscured" by federal economic stimulus funds.

"Victoria's stock of debt has risen markedly over the past three years ... This will need to be repaid by the current generation," the report says.

"Victoria's financial position is unsustainable into the medium term ... Finances are, at present, particularly vulnerable to changes in economic circumstances and are not well-placed to absorb another material financial shock."

The report is an interim report of the Independent Review of State Finances, with the final review due in February next year.

Treasurer Kim Wells said that on top of the interim report's findings, Victoria also faced a further $4.1 billion fall in GST revenue and the deferral of $550 million in federal infrastructure payments.

This meant it faced a $4.65 billion revenue shortfall over the next four years, compared with what had been predicted in last December's 2010/11 Budget Update.

"The report confirms that the Brumby Labor government's spending over the past decade outpaced revenue," Mr Wells said in a statement.

"If the Brumby government continued to take Victoria down this path, the state would be forced to borrow just to pay ongoing expenses by 2015/16."

He also said it was clear the former government had failed to adequately invest in vital infrastructure.

"In the forward estimates for the budget, Labor failed to allocate enough funding just to maintain the existing level of capital stock and no funding to meet the needs arising from population growth, service enhancements, or price adjustments."

An opposition spokeswoman said Premier Ted Baillieu had inherited a AAA rating budget given by independent agencies.

"Mr Baillieu might be able to afford to undermine Victoria's economy but businesses and families can't afford to have a government that is intent, for a political purpose, on destroying the state's hard won reputation for financial management," the spokeswoman said in a statement.

Mr Wells said the government would consider the interim report findings and recommendations over coming months and would implement a strategy to reduce debt over time, increase infrastructure investment and put Victoria's finances on a sustainable footing.

The interim report recommends developing a transition plan that includes getting rid of government net debt in 10 years.

The review of the state's finances is being conducted by chairperson Dr Michael Vertigan, Don Challen and Professor Ian Harper.

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buzzanddidj

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1371 - Apr 28^th, 2011 at 4:20pm

Verge wrote on Apr 28^th, 2011 at 2:43pm:

Premier Ted Baillieu had inherited a AAA rating budget given by independent agencies.

"Mr Baillieu might be able to afford to undermine Victoria's economy but businesses and families can't afford to have a government that is intent, for a political purpose, on destroying the state's hard won reputation for financial management," the spokeswoman said in a statement.

The review of the state's finances is being conducted by chairperson Dr Michael Vertigan, Don Challen and Professor Ian Harper.

AN "independent" report on the Victorian economy has been branded insulting by shadow treasurer Tim Holding in a defence of Labor's economic record in government.

The interim report, released yesterday, found that the state budget would have been in deficit of about $1 billion for the past two years if not for federal stimulus money during the financial crisis, and that the Baillieu government would have to borrow to pay the wages of public servants if it did not cut spending.

But Mr Holding, who was a minister in the Bracks and Brumby governments, said the report tried to suggest that Victorians had been misled and information concealed.

''This suggestion … is an insult not just to the former government, it's an insult to the Department of Treasury and Finance … and it's an insult to the Auditor-General,'' he said.

His rebuttal came as Premier Ted Baillieu would not guarantee next week's budget would not bring a smaller public sector through natural job attrition.

Mr Holding said Mr Baillieu, soon after coming to office, had declared there were no surprises in the state's financial position.

He accused the Premier and Treasurer Kim Wells of a charade to

''butter up Victorians''

to wriggle out of under-costed election promises.

Quote:

The review of the state's finances is being chaired by

Aurora Energy director, Dr Michael Vertigan

- assisted by retired former

Hydro Tasmania director, Don Challen

and

Access Economics' Ian Harper

http://www.theage.com.au/victoria/opposition-slams-report-on-economy-20110427-1d...

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« Last Edit: Apr 28^th, 2011 at 4:26pm by buzzanddidj »

'I like your Christ, I do not like your Christians.
Your Christians are so unlike your Christ.'

- Mohandas Karamchand Gandhi

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vegitamite

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1372 - Apr 28^th, 2011 at 4:20pm

You seem to have a 'missing ' treasurer there buzz;

Premier Ted Baillieu has been forced to defend Treasurer Kim Wells for being missing in action. Source: Herald Sun

ONLY days from his first Budget, Victorian Premier Ted Baillieu has been forced to defend his Treasurer against accusations of being missing in action.

Treasurer Kim Wells yesterday ducked a planned media launch of a crucial report into Victoria's finances and has now been dubbed "MIA Wells" in Spring St.

Shadow treasurer Tim Holding, who famously got lost on Mt Feathertop, offered to lend the Treasurer his emergency distress beacon.
An independent economic report commissioned by the State Government had found Victoria's finances were being propped up by Commonwealth money.

But Mr Wells was nowhere to be found yesterday. And he has form.
The Treasurer spent most of the month-long state election campaign out of sight, attending only one media conference before the poll.
Senior business figures expressed surprise to the Herald Sun after Mr Wells declined to meet lobby groups in the run-up to Tuesday's Budget.

"The previous government had an open-door policy but Mr Wells has refused to meet with a variety of business groups," a senior Melbourne businessman said.

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Verge

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1373 - Apr 28^th, 2011 at 5:01pm

Looks like Buzz cant handle independent reports, and whats more amusing is he is questioning the independence of it. He also appears to be like his ALP counterparts who also cant handle the truth.

So, in Buzz fashion, I'll just repeat the facts again for him, since he has trouble dealing with them

One more time for the road people, just incase people care what a bloke who gets lost in the mountains and costs the tax payers thousands tries to deflect about

The report, commissioned by the Coalition government after it ousted Labor from of office in the November 2010 election, makes key findings that include Victoria having a growing debt and insufficient investment in infrastructure.

It also says trend growth in expenses has outstripped trend growth in revenues but has been "obscured" by federal economic stimulus funds.

"Victoria's stock of debt has risen markedly over the past three years ... This will need to be repaid by the current generation," the report says.

"Victoria's financial position is unsustainable into the medium term ... Finances are, at present, particularly vulnerable to changes in economic circumstances and are not well-placed to absorb another material financial shock."

The report is an interim report of the Independent Review of State Finances, with the final review due in February next year.

Treasurer Kim Wells said that on top of the interim report's findings, Victoria also faced a further $4.1 billion fall in GST revenue and the deferral of $550 million in federal infrastructure payments.

This meant it faced a $4.65 billion revenue shortfall over the next four years, compared with what had been predicted in last December's 2010/11 Budget Update.

"The report confirms that the Brumby Labor government's spending over the past decade outpaced revenue," Mr Wells said in a statement.

"If the Brumby government continued to take Victoria down this path, the state would be forced to borrow just to pay ongoing expenses by 2015/16."

He also said it was clear the former government had failed to adequately invest in vital infrastructure.

"In the forward estimates for the budget, Labor failed to allocate enough funding just to maintain the existing level of capital stock and no funding to meet the needs arising from population growth, service enhancements, or price adjustments."

An opposition spokeswoman said Premier Ted Baillieu had inherited a AAA rating budget given by independent agencies.

"Mr Baillieu might be able to afford to undermine Victoria's economy but businesses and families can't afford to have a government that is intent, for a political purpose, on destroying the state's hard won reputation for financial management," the spokeswoman said in a statement.

Mr Wells said the government would consider the interim report findings and recommendations over coming months and would implement a strategy to reduce debt over time, increase infrastructure investment and put Victoria's finances on a sustainable footing.

The interim report recommends developing a transition plan that includes getting rid of government net debt in 10 years.

The review of the state's finances is being conducted by chairperson Dr Michael Vertigan, Don Challen and Professor Ian Harper.

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buzzanddidj

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1374 - Apr 28^th, 2011 at 5:04pm

Thanks veg ...

Preserving Victoria's triple-A credit rating will be a major challenge, Premier Ted Baillieu has warned less than a week before the state budget.

The Independent Review of State Finances said in its interim report released on Wednesday that achieving a triple-A rating should not be a medium-term goal.

Instead, it recommends zero net debt and superannuation liabilities among its medium-term targets.

Treasurer Kim Wells, who commissioned the report, was missing in action on Wednesday.

His spokeswoman said he was unavailable to answer questions about the report and the government would respond in coming months

.

Mr Baillieu told reporters he wanted to retain the state's triple-A credit rating but it would be tough.

"We are keen to keep a triple-A rating and we'll be endeavouring to do that," he said as he announced an extra $100 million over four years for school maintenance.

"But this is going to be a significant challenge for the government and for all Victorians."

Shadow treasurer Tim Holding described the report as a disgrace and defended the previous government's record as sound economic managers.

"Victoria's finances are in a very strong position, they're in a sustainable position," he told reporters.

"We've gone through this charade, through this absurd exercise ... to try and butter Victorians up to what we all know is coming, and that is a budget where they will seek to wriggle out of the solemn undertakings they made to Victorians."

Mr Holding warned that walking away from the state's triple-A credit rating could lead to a higher interest burden for the state as it serviced its debt

http://news.smh.com.au/breaking-news-national/preserving-aaa-rating-tough-bailli...

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Your Christians are so unlike your Christ.'

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buzzanddidj

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1375 - Apr 28^th, 2011 at 5:21pm

There are THREE standouts, HERE

Why was the Victorian Government Treasury - the Treasurer's OWN DEPARTMENT - locked out of the audit ?

Secondly,why was the task delegated to ...
An energy supplier board member
A retired energy supplier board member
And a member of Access Economics - the architects of the Coalition's ridiculed, under-costed carbon plan ?

Thirdly, why will the Treasurer not give any detail, or figures, as to how these predictions were made ?

NOT FOR "SEVERAL MONTHS"

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« Last Edit: Apr 29^th, 2011 at 11:25am by buzzanddidj »

'I like your Christ, I do not like your Christians.
Your Christians are so unlike your Christ.'

- Mohandas Karamchand Gandhi

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buzzanddidj

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1376 - Apr 29^th, 2011 at 11:47am

How Victoria has beaten NSW on every measure

April 28, 2011

It would be foolish for the Baillieu government to stall on big projects.

Australia has undertaken a recent experiment with low population growth - it's called New South Wales. What a failure it has been in the past five years, resulting in lower gross state product, higher state unemployment and loss of key industry opportunities.

Compare that with Victoria's economic performance, where more jobs have been added than in any other state in the past four years and consistently higher growth figures have been recorded. NSW has slipped from its post-2000 Olympics high, when it represented 35 per cent of Australia's gross domestic product, to 31 per cent now.

Victoria has prospered and grown, attracting more tertiary graduates and interstate and overseas migrants. We have had the highest level of housing starts on average of all the states, and more building approvals than NSW in real terms.

The Kennett government pursued strong economic growth, sound budgets and investment in infrastructure. My government and, subsequently, the Brumby government did the same and, in addition, invested our surpluses in service delivery.

The key challenge now is to continue with our state's policy leadership. It is vital that we invest in economic infrastructure projects, both new and those in progress.

On coming to power in 1999, the Bracks Government adopted a number of incomplete Kennett government projects - such as Federation Square, the County Court, Melbourne Museum and the CityLink toll - without question

and completed each without complaint

- there may be a lesson here for our new state government.

There was only one priority - providing for Victoria's future economic prosperity and enhanced lifestyle.

The challenge for the new Victorian government is to keep this momentum going. Stalling project development through

continuous reviews

will not help Victoria retain its leadership position.

Victoria will prosper if we can continue to encourage population growth through interstate and overseas migration.

We also need to keep the cost of doing business in Victoria as competitive as possible.

The government should ditch home stamp-duty cuts and instead use the money to further cut WorkCover premiums and payroll tax rates, since these cuts are more likely to generate jobs.

The government should also support industries that are part of Victoria's future, and get on with infrastructure projects.

The government has committed to new rail lines for Doncaster, Avalon and Tullamarine, as well as putting key overhead power lines underground. These are expensive projects that will add to domestic power bills and budget outlays, but they should proceed alongside existing projects.

To do otherwise will result in project delays, even more budget overruns and inevitable job losses.

We need to continue our policy leadership and not succumb to the

NSW disease

.

Steve Bracks was premier of Victoria from 1999 to 2007.
He is chairman of the superannuation fund CBus, non-executive director of the Bionic Ear Institute and envoy for Australia's automotive industry.

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'I like your Christ, I do not like your Christians.
Your Christians are so unlike your Christ.'

- Mohandas Karamchand Gandhi

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Andrei.Hicks

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1377 - Apr 29^th, 2011 at 11:56am

Fining drivers $10,000 per minute

Dredging the bay

Arresting protestors on their own land

Building a pipeline nobody wanted

Building a De-Sal plant not needed and saddling Victorians with hundreds of millions of dollars of debt for a decade

Myki

Forcing people to pay upwards of $70,000 in stamp duty on a house purchase

**Oh yes give us the glory days of Brumby back **

LOL

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buzzanddidj

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1378 - Apr 29^th, 2011 at 12:16pm

Quote:

The Kennett government pursued strong economic growth, sound budgets and investment in infrastructure. My government and, subsequently, the Brumby government did the same and, in addition, invested our surpluses in service delivery.

On coming to power in 1999, the Bracks Government adopted a number of incomplete Kennett government projects - such as Federation Square, the County Court, Melbourne Museum and the CityLink toll - without question

and completed each without complaint

- there may be a lesson here for our new state government.

We also need to keep the cost of doing business in Victoria as competitive as possible.

The government should ditch home stamp-duty cuts and instead use the money to further cut WorkCover premiums and payroll tax rates, since these cuts are more likely to generate jobs.

The government should also support industries that are part of Victoria's future, and get on with infrastructure projects.

- Steve Bracks
28/04/2011

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'I like your Christ, I do not like your Christians.
Your Christians are so unlike your Christ.'

- Mohandas Karamchand Gandhi

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Verge

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Re: Baillieu: "We Can Do Better" (or maybe n
Reply #1379 - May 2^nd, 2011 at 12:48pm

Vic offers to trial disability support scheme
By Liz Hobday

Updated 2 hours 37 minutes ago

The plan is intended to cut waiting times for disability support payments. (AFP: Fred Tanneau)
The Victorian Government has offered to trial a proposed national disability support scheme.

The scheme, based on a "no fault" insurance model, is set to be tested in 2014, before a national rollout the following year.

But it is still unclear how the national project, which is expected to cost more than $12 billion will be funded.

The Community Services Minister Mary Wooldridge says the new model would cut waiting times for those eligible for disability support payments.

"This would change from a welfare-based disability support system, to an entitlement-based support system," she said.

"It will be a radical change and make a huge difference to people with disabilities and their families and carers."

Kirsten Deane from the National Disability and Carer Alliance says Australians do not understand how hard life can be for people with disabilities.

"I think they assume because we live in Australia that someone somewhere is taking care of people with a disability and their families and unfortunately, that's just isn't true," she said.

This scheme will really help people with a disability to participate in the economy and really to just have the same opportunities as everyone else."

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And why not, if you will permit me; why shouldn’t I, if you will permit me; spend my first week as prime minister, should that happen, on this, on your, country - Abbott with the Garma People Aug 13

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