Australian Politics Forum - John Howard enters election debate

bogarde73

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John Howard enters election debate
Aug 6^th, 2013 at 2:44pm

Low rates due to slowing economy: Howard
AAP – 5 minutes ago..

The Labor government is deluding itself if it believes lower interest rates are a sign they have the economy well in hand, former Liberal leader John Howard says.

In 2004 when Mr Howard was contesting an election as prime minister, he said interest rates would always be lower under a coalition government.

"The context in 2004 was who was better to deliver lower interest rates in a booming economy," Mr Howard told the Australia-Israel Chamber of Commerce on Tuesday.

Then the Reserve Bank of Australia's cash rate was 5.25 per cent compared with 2.50 per cent now.

Mr Howard said rates were lower now because the economy was slowing.

"For anybody to run around between now and election day and say that a cut in interest rates means that the government has got the economy well in hand, they're deluding themselves," Mr Howard said.

"Look at some of the nations of Europe. They have got virtually zero interest rates and their economies are not moving."

Australia boasts a triple-A rating from all three major credit rating agencies. It is one of only eight countries in the world to hold such status.

But Mr Howard pointed out it was former Liberal treasurer Peter Costello who helped Australia restore a triple-A standing.

"A triple-A was not something that came about when Kevin Rudd became prime minister," Mr Howard said.

"What he is saying is we still have a triple-A rating, and I say, despite him."

Mr Howard's government introduced the GST in 2000, an impost which many believe now should be broadened and its rate increased from 10 per cent.

Mr Howard said tax reform was something that needs to be revisited.

"If the Labor party and the Democrats had not punched a hole in the GST that the Australian people voted for in 1998, the financial position of the states that get all of the GST revenue now would be much better than it is," he said.

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bogarde73 Gold Member Offline Anti-Global & Contra Mundum Posts: 18443 Gender:	Re: John Howard enters election debate Reply #1 - Aug 6^th, 2013 at 2:44pm Quite right too! Don't you agree Skipp?
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John Smith Gold Member Offline Australian Politics Posts: 75191 Gender:	Re: John Howard enters election debate Reply #2 - Aug 6^th, 2013 at 2:47pm Is that the same Howard that said Abbott is an economic illiterate? hang on, maybe that was Costello ... I suppose it doesn't matter who said it
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Dnarever

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Re: John Howard enters election debate
Reply #3 - Aug 6^th, 2013 at 2:53pm

It is not uncommon for ex PM's to be delusional, Howard however started before leaving office.

Quote:

Mr Howard was contesting an election as prime minister, he said interest rates would always be lower under a coalition government.

Yep that Mr Howard.

Quote:

Mr Howard said tax reform was something that needs to be revisited.

"If the Labor party and the Democrats had not punched a hole in the GST that the Australian people voted for in 1998, the financial position of the states that get all of the GST revenue now would be much better than it is," he said.

Yep Delusional alright.

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bogarde73 Gold Member Offline Anti-Global & Contra Mundum Posts: 18443 Gender:	Re: John Howard enters election debate Reply #4 - Aug 6^th, 2013 at 3:08pm It's quite possible that, if he speaks out more often, the voters will recall what a mistake they made in 2007 and be even more determined not to make the same mistake again.
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Dnarever Gold Member Offline Australian Politics Posts: 59347 Here Gender:	Re: John Howard enters election debate Reply #5 - Aug 6^th, 2013 at 3:14pm bogarde73 wrote on Aug 6^th, 2013 at 3:08pm: It's quite possible that, if he speaks out more often, the voters will recall what a mistake they made in 2007 and be even more determined not to make the same mistake again. More Likely the people may remember why they had to get rid of the Liberals in 2007.
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Lobo Gold Member Offline Australian Politics Posts: 7407 Sydney Gender:	Re: John Howard enters election debate Reply #6 - Aug 6^th, 2013 at 3:19pm Quote: The Labor government is deluding itself if it believes lower interest rates are a sign they have the economy well in hand, former Liberal leader John Howard says. Is this where Abbott inherited his negativity from???
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Lobo Gold Member Offline Australian Politics Posts: 7407 Sydney Gender:	Re: John Howard enters election debate Reply #7 - Aug 6^th, 2013 at 3:23pm *
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buzzanddidj

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Re: John Howard enters election debate
Reply #8 - Aug 6^th, 2013 at 4:10pm

John Howard - BEFORE he "enters election debate"

Resilient economy in better shape than most, says Howard

May 15, 2013

Former prime minister John Howard gave the economy a big tick before Treasurer Wayne Swan delivered his sixth budget on Tuesday night.

Mr Howard told a mortgage and finance industry convention in Sydney
the economy was resilient despite the belief that it was ''running on empty''
.

In an off-the-cuff speech on Friday, reported by trade website The Adviser, Mr Howard was upbeat about the economy.

''When the Prime Minister and the Treasurer and others tell you that the Australian economy is doing better than most - they are right''
Mr Howard said.

The low unemployment rate had surprised him, he said.

''We are still fortunate that we have an unemployment rate with a five in front of it. I wouldn't have thought that was going to be possible a few years ago, and I don't think many people would. Our unemployment has remained pleasingly quite low,'' Mr Howard said.

''And our debt to GDP ratio, the amount of money we owe, to the strength of our economy, is still a lot better than most other countries''
he said.

He said Australia's economy was better than the economies of Japan, the US and most European countries.

http://www.smh.com.au/federal-politics/political-news/resilient-economy-in-bette...

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cods

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Re: John Howard enters election debate
Reply #9 - Aug 6^th, 2013 at 4:18pm

Lobo wrote on Aug 6^th, 2013 at 3:19pm:

Quote:

The Labor government is deluding itself if it believes lower interest rates are a sign they have the economy well in hand, former Liberal leader John Howard says.

Is this where Abbott inherited his negativity from???

well in this day and age of self funded retirees I think he has a point..

usually its a sign that things have stalled and this they are hoping will kick start a revival of spending... I seem to remember well after the GFC Americas interest rates went down to 2%....and didnt make one iota of difference...

I think the good old days may be over frog....maybe that isnt a bad thing...it will be tough.. but we have become very complacent.

when we are throwing money at a generation like has been happening..

paid maternity leave to start with and then they whinge about childcare costs.. they want more.... we have to stop that and make them responsible for their own behavior..it isnt the govt job to pay for bloody everything for goodness sakes..

go without.. thats what my generation had to do.stop the waste stop throwing things out because you have worn them twice already.grrr

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cods

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Re: John Howard enters election debate
Reply #10 - Aug 6^th, 2013 at 4:23pm

buzzanddidj wrote on Aug 6^th, 2013 at 4:10pm:

He said Australia's economy was better than the economies of Japan, the US and most European countries.

buzzanddidj wrote on Aug 6^th, 2013 at 4:10pm:

hahaha.. why wouldnt it be they have stalled and have been since the GFC..we had a mining BOOM remember?

The low unemployment rate had surprised him, he said.

yes it does me as well.. thats why I dont believe it..

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Lobo

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Re: John Howard enters election debate
Reply #11 - Aug 6^th, 2013 at 4:28pm

cods wrote on Aug 6^th, 2013 at 4:18pm:

Lobo wrote on Aug 6^th, 2013 at 3:19pm:

Quote:

The Labor government is deluding itself if it believes lower interest rates are a sign they have the economy well in hand, former Liberal leader John Howard says.

Is this where Abbott inherited his negativity from???

well in this day and age of self funded retirees I think he has a point..

usually its a sign that things have stalled and this they are hoping will kick start a revival of spending... I seem to remember well after the GFC Americas interest rates went down to 2%....and didnt make one iota of difference...

I think the good old days may be over frog....maybe that isnt a bad thing...it will be tough.. but we have become very complacent.

when we are throwing money at a generation like has been happening..

paid maternity leave to start with and then they whinge about childcare costs.. they want more.... we have to stop that and make them responsible for their own behavior..it isnt the govt job to pay for bloody everything for goodness sakes..

go without.. thats what my generation had to do.stop the waste stop throwing things out because you have worn them twice already.grrr

The good old days were over when Howard made pensioners, SFR or not, pay tax via GST.

Wink

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Verge

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Re: John Howard enters election debate
Reply #12 - Aug 6^th, 2013 at 4:44pm

"For anybody to run around between now and election day and say that a cut in interest rates means that the government has got the economy well in hand, they're deluding themselves," Mr Howard said.
---------------------

This statement is correct. Interest rate cuts are used to further stimulate the economy.

Another cut does mean that the economy isnt heading in the direct we want, and a cut can aid this.

It doesnt change the fact we do have compared to the rest of the world a much stronger economy. Another cut though is not an endorsement that the ALP is doing a good job of managing it.
There are a range of factors that influence growth but with the fall in the Aussie dollar our exporters are doing substantially better, so I thought it was laughable Rudd was claiming that another interest rate cut was great for Australian people and their cost of living pressures.

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chicken_lipsforme

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Re: John Howard enters election debate
Reply #13 - Aug 6^th, 2013 at 4:57pm

John Howard is a good man freely giving his time and offering advice to a grossly incompetent and deluded Labor party that frankly couldn't be trusted to balance an office petty cash tin.

Perhaps Phil Ruddock could also pitch in and also give his advice on how to stop the boats, seeing as he has already done it once before, and also that the number of economic migrants arriving illegally since Rudd's policy vandalism in 2008, will reach a record 50,000 within a fortnight.

After all, Labor does need all the help they can get.
They are worse than hopeless.

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longweekend58

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Re: John Howard enters election debate
Reply #14 - Aug 6^th, 2013 at 5:23pm

Lobo wrote on Aug 6^th, 2013 at 4:28pm:

cods wrote on Aug 6^th, 2013 at 4:18pm:

Lobo wrote on Aug 6^th, 2013 at 3:19pm:

Quote:

The Labor government is deluding itself if it believes lower interest rates are a sign they have the economy well in hand, former Liberal leader John Howard says.

Is this where Abbott inherited his negativity from???

well in this day and age of self funded retirees I think he has a point..

usually its a sign that things have stalled and this they are hoping will kick start a revival of spending... I seem to remember well after the GFC Americas interest rates went down to 2%....and didnt make one iota of difference...

I think the good old days may be over frog....maybe that isnt a bad thing...it will be tough.. but we have become very complacent.

when we are throwing money at a generation like has been happening..

paid maternity leave to start with and then they whinge about childcare costs.. they want more.... we have to stop that and make them responsible for their own behavior..it isnt the govt job to pay for bloody everything for goodness sakes..

go without.. thats what my generation had to do.stop the waste stop throwing things out because you have worn them twice already.grrr

The good old days were over when Howard made pensioners, SFR or not, pay tax via GST.

Wink

he increased the pension as compensation. FULLY compensated.

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