When considering a move to any country, whether it’s Australia or elsewhere, it’s a good idea to be aware of the country’s economical standing. Have they got their finances in order or not?
Well, we know there are quite a few countries that haven’t. Ireland, USA and the UK seem to be in an apparent financial mess, so how is Australia doing?
Last time I wrote about this sort of thing was almost exactly a year ago in a post called The Budget in Australia and the Disappearing Surplus. Well, this year’s budget is rapidly approaching, what kind of the state are we in this time?
A bad one, according to our new government. One of the first things they did when they got into office was say…
My word, what a financial mess the previous government has left for us! Now we are going to have to make massive cuts just to get back on track.
That’s not an actual literal quote by anyone in the current government, but you know what I mean.
Whose fault is it?
Australia enjoyed a budget surplus from 2003 through to 2008 during John Howard’s government. Then Labour got in and since 2009 we have had budget deficits. So it’s easy to blame the likes of, firstly, Kevin Rudd, then Julia Gillard, and then Kevin Rudd again in the topsy-turvy world of Labour leadership.
You do remember Australian Politics: A Modern and Brief History don’t you?
Labour supporters, on the other hand, say the party did a marvellous job steering Australia through the Global Financial Crisis and helping this country avoid going into a recession.
Here is an up-to-date professional analysis and I guarantee you will still not know who to blame…
See what I mean?
No matter whether we are in the zipperdy doo dah or not, or whose fault it was, cuts are coming, that’s for sure.
The current government commissioned the “National Commission of Audit” and that report was released this week. It’s the big news in Australia at the moment as we enter the 12 day countdown to this year’s budget.
Here is World News Australia’s assessment of the report along with, well, more confusion about whose fault it is…
The thing is, I know exactly whose fault it was.