Think Tuesdays: The Budget

The one and only thing that is on most Australian people’s mind is how the budget that is being released at 7:30pm tonight will impact them.

And frankly, I don’t blame them. There is a lot to pick through the budget and I found this ABC news site to have a comprehensive interactive summary of the findings.

Some things to look out for:

  • Medicare Levy increase (by .5% – really, people shouldn’t be complaining about this point, given how excellent our services are in this country)
  • Penalties and a new tax on the banks (which invariably will be passed on to customers)
  • Cost of hiring foreign workers on temporary contracts versus those on permanent visas
  • Impacts to Higher Educations (which kinda sucks given the above point… we won’t allow our companies to hire the best, but at the same time, won’t give the local talent an opportunity to improve… maybe I am a little cynical)
  • They are trying to help people get into their first home through their super, but I’m not yet convinced that this is a good idea.

I am no expert, but it seems that things aren’t looking rosy and we can do a lot to lift our own games.

This is why James’ post seems even more poignant than it was before.

For the Budget in all it’s magnificence, please go here.

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