GOVERNMENT SPENDING POLICY – AUSTRALIA

Palmer’s $9b bombshell

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1-Apr : 8-Jul-14

Palmer United Party leader Clive Palmer on 7 July 2014 announced that its senators would vote against a further $A9.5bn worth of cuts planned by the Australian Government in the 2014-15 Budget. While agreeing to pass legislation for the repeal of the minerals resource rent tax, Palmer said programs funded with its revenue would be retained, at a cost of close to $A8bn. Similarly, the repeal of the carbon tax will not bring the proposed rise in the income tax-free threshold from $A18,200 to $A21,000. The total value of Budget initiatives now set to falter in the Senate is $A34bn

CORPORATES
PALMER UNITED PARTY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF HUMAN SERVICES. MEDICARE AUSTRALIA, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Palmer’s $86bn budget saving plan doesn’t add up

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Original article by David Crowe
The Australian – Page: 2 : 24-Jun-14

Palmer United Party leader and federal MP Clive Palmer will soon hold talks with Australian Prime Minister Tony Abbott on passing legislation for the Government’s 2014-15 Budget measures. Palmer has also outlined his own strategy for savings, with the national broadband network roll-out’s cost to be lowered from $A45bn to $A7bn by only serving rural areas. Palmer wants to buy submarines from the US for $A10bn rather than to spend $A37bn on new ones, by opting for nuclear-powered vessels. Experts have cast serious doubts on both policy proposals

CORPORATES
PALMER UNITED PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, NBN CO LIMITED, PAUL BUDDE COMMUNICATION PTY LTD, TELSTRA CORPORATION LIMITED – ASX TLS, COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED, DELOITTE ACCESS ECONOMICS PTY LTD