What does a budget surplus mean for struggling Australians? | Richard Denniss on 10 News
Вставка
- Опубліковано 13 тра 2024
- "People seem to think that when government spends money, it will cause inflation. But if they do it well, if they target it well, governments can spend more money pushing prices of childcare, university education and medicines down."
"That's good for lowering inflation and it's very good for people suffering in a cost of living crisis."
- Executive Director Richard Denniss appearing on 10 News First
Sign up to get our latest analysis sent to you via our fortnightly newsletter!
📧 theaus.in/newsletter
Help us make more videos like this by becoming a supporter:
❤️ theaus.in/donateYT
Great to see the Australia Institute getting some exposure on commercial television. Its a pity Richard didn't mention the need to build public housing now, not later. (He's very good though) Inflation has hit contruction costs much harder then other sectors.
Absolutely nothing to normal hard working Australians
Yes but nearly 300 million for government workers
A surplus means less inflation, even better if they pay off debt.
Over spending means more inflation, currently we are going through the pain of the c0v1d overspending that everyone seemed to love, so yes it effects working Aussies.
Even if inflation does go down, im guessing all my bills will continue to rise. Food prices won't reduce that much. Once prices go up its rare that they go down significantly
I’m favored financially with Bitcoin ETFs approval, Thank you buddy. $12,000 monthly profit regardless of how bad it gets on the economy.
Same here, I believe the Bitcoin ETFs approval will be life changing opportunity for us, with my current portfolio made from my investments with my personal financial advisor 1 totally agree with you
YES!!! That’s exactly her name (Audrey Lauren ) so many people have recommended highly about her from Brisbane Australia…🇦🇺
I’m a long term investor, I withdrew my profits of over $61,000 during the COVID 19 pandemic ….
She is my family’ personal Broker and also a personal Broker to many families in the United States, she is a licensed broker and a FINRA AGENT in the United States…
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some < professional advice. ‹ it's totally inappropriate for investors to hang on while suffering from dip during significant
Think about this, if 4k extra was given in unemployment benefits, those living on the payment would still be under the poverty line, but it would be close to it. What an accolade to bring so many Aussie out of poverty, surely that would be enough for Labor to hang their hats on, so how bad then is the compulsion to do the seemingly opposite and where would such a compulsion come from?
They should raise rent assistance, I don't think it has changed since 1990, that would be the major cost I would think.
It’s bull ShXt, we’re going to be paying more!
If they don't freeze your digital currency
Why oh why don't they make the choices suggested so well in this report?
Good work Richard, well done
Hell yeah! Government is doing great, the people aren’t. Best times are yet to come.
😂😂 people who say we can't go broke are stupidity ignorant.
The Government should NOT have a surplus.
Having a surplus means that the Government is not using its Tax Revenue responsibly.
Taxes are supposed to be an instrument for levelling the financing of the services that benefit the whole population.
The National finances are NOT dependent on Tax Revenue. The Country's budget is not like your household budget. If you run out of money (cash, credit, friend) you are broke. If a Federal Government, being a sovereign body, looks like it's running out of money, it simply prints more. A Sovereign Country can not go broke!
AUS IS BROKE ALL MOST 1$trillion
@@vernonwhite4660 you can't be broke if you issue your own currency. So Australia is far from broke. As a matter of fact, if we paid off all our 'debt' our financial system would collapse.
Well spoken and articulated.
So printing money must be good for inflation,or have we stopped doing that?
What they print was given to Ukraine Tuvalu
Palastine Cambodia
Papua New Guinea & a few other Pacific nations.😊
@@vernonwhite4660 couldn't we just send them their own printing machine with ink and paper? Save them having to change Aussie dollars into their own currency
If you're talking about issuing more currency into circulation, they're still doing that.
Richard was more than ready for every question.. big telepathic high five coming your way mate.. brace yourself.. its an arm breaker lol
What about paying down the trillion dollar Commonwealth government debt that no one is talking about?
Budget one how pensioners
Austerity? What about quantitative easing? 🤠
Is quantitative easing used to reduce inflation and then to reduce interest rates? So if the price gouging from the supermarkets, fuel importers etc will not be addressed as an inflationary pressure maybe they will gouge further?
How much can we pensioners expect.
$0 above CPI. Albos cutting taxes, money for housing, DV payments for women and housing for women
I'm surprised they didn't raise the pension age to 70
@@Jack-gn4glother countries are already raising it to 71. We are moving to 70.
@@leonie563 France went to 64 and had riots.
It’s easy collect record taxes, highest in the western countries, and he thinks he’s done a good job 🤬
Does this mean the liberal faithful don’t get to use the old “Labor are bad money managers” line? How will they make noise??? Oh bother..
oh wait no, there’s always something to talk about..
Keep us all distracted
Yes Im sure this government is fully transparent and has 100 percent credibility in regards to reporting on the financial status of the country.... The radio reports power bill relief and cost of living relief again but we do not see it . Sounds like a version of stimulus payment you know the pat on your back while they fish around in your pockets for loose change type deal..
I'm sure albo said cheaper electrwicity
Government spending including deficits are not inflationary if they utilize available resources and capacity in the economy - as the guy says. Government surpluses are usually a bad idea as they correspond to deficits in the non-government sectors, lead to lower savings and investment and reduce the money circulating in the economy. This leads to recessions. Again, as the guy says, increasing government spending to improve incomes for the poor, reduce healthcare costs etc, but also on green infrastructure is the way to go. Running a surplus is unnecessarily causing people to struggle!
100% classic Labor budget. Tax & spend, tax & spend.
OH.... lets give everyone handouts..... Governments...
Yeah man fuck those poor people
I agree! Let's take the handouts off the rich, the fossil fuel industry, private schools, foreign corporations & multiple homeowners and target them to the people who need them & have been ignored for decades!!! That is what you meant, right?
yep why the fuck are we subsiding mining and gas and then charged more for the shit, big business is having a farkin laugh
@@zoddsonofthor5576
Exactly what mining subsidy are you talking about?
@@petert3355 probably the 57 billion to the fossil fuel industry in 2023
Injecting more money into the economy will increase inflation and demand; cutting taxes, increasing government spending, cost of living relief, and reducing student debt.
Richard Denniss talks as if government can spend without regard for the fact that everything in the economy is in a situation of basic scarcity and so has to be produced at a cost which is factored in as prices of commodities and labour.
His thinking ignores this basic understanding and acts as if it is of no consequence or does not matter.
He also ignores the reality that government spending is essentially re allocation of the financial assets that have been determined by competition between produces. This ignorance of price mechanisms ignores the very factors which have already been determined as a result of being more efficient and which are reflected in those prices.
It is essentially just dumb economics that is just a fantasy belief that government (politicians) is the driver of economic wealth and prosperity.
What surplus. Misinformation. WE ARE A NATION IN DEBT. THERE CANNOT BE A SURPLUS IF YOU ARE IN DEBT.
We have a surplus from the budget this year. A surplus.
@@ML6103 So the country is in debt, but we have a surplus. 2+2=5 then? Anybody thinking that they have a surplus when they owe billions are fooling themself.
Just get a government job because they are the only people that have had a pay rise under labour. I’m throwing in my trade license and going to get a easy government job with all the perks
sorry only family and friends can apply
Where are these cushy government jobs? I can promise you that working short staffed nursing shifts in hospitals isn't easy. And what wage rise?
I thought a trade licence was was THE licence to print money
Any citation on that claim?
Why don't you wait for the budget to be released to find out. Instead of surmising your own opinion of what the budget says. The comments here are as if the budget was already announced. We elect a govt: to govern so let them get on with the job, with out interference from mouth pieces that are installed to disrupt.
'nobody talk or make speculation or I will chuck a tanty'. Yeah nice mate
@@ML6103 Speculation is wasted space and means nothing, so what is the adjective, nothing = propaganda.