Swan's budget a fizzle

[seank]

Alot of hype, little substance. Where are all the cuts to spending? Some reports say government spending has actually increased putting more pressure on inflation. Petrol prices, food prices, these were left out but wait for it...... you can get a laptop cheaper
1 positive, us property investors were left off the chopping block....
Your thoughts?

 

[buzzlightyear]

$100m surpluses over the next 5 years, much of that parked in multiple future funds. The government cup runneth over. However, its hardly the nightmare budget that Swan & Rudd made out. The first budget for a new government is probably the best opportunity to make some substantial cuts (as Swan kept on saying), but it was pretty meek and mild from that perspective.

Interestingly though, the skilled migration program will be 133,000 in 2008-2009 for a total migration intake of over 190,000. This continues the huge programs over the past few years which from a property perspective, will continue to increase demand in housing. The programs to increase housing supply will take a few years to kick in, assuming they will have a material affect, so its as you were with housing.

 

[evand]

Are those figures gross migration or nett?

I think the nett (which is the figure that affects housing demand) is substantially smaller than you indicated.

Interestingly though, the skilled migration program will be 133,000 in 2008-2009 for a total migration intake of over 190,000. This continues the huge programs over the past few years which from a property perspective, will continue to increase demand in housing. The programs to increase housing supply will take a few years to kick in, assuming they will have a material affect, so its as you were with housing.

 

[buzzlightyear]

Obviously they are gross. Taken into the context, the trend has continue to increase over the past few years, which has been argued as one of the contributors to housing demand.

Now unless there is some mass exodus that I or the government doesn't know about, it continues to add another demand dimension in the property debate.

 

[Highlygeared]

buzz

can you post the excerpt on immigration pls - cant seem to find it. Does it go into detail on immigration numbers for each state?

 

[buzzlightyear]

buzz

can you post the excerpt on immigration pls - cant seem to find it. Does it go into detail on immigration numbers for each state?

Haven't seen a state by state breakdown of estimated settlers for 2008-9. This is a link to the press release .

However this is the newly released data in March (08) of 2006-7 numbers. Go to Chapter 8 for state by state breakdown.

 

[Ausprop]

I agree, much ado about nothing. fancy creating all that build up and then delivering that, what a wasted opportunity to bite some bullets. I am going to a westpac economic analysis on the budget on friday and I honeslty don't know what they could talk about. lunch should be nice

 

[buzzlightyear]

I agree, much ado about nothing. fancy creating all that build up and then delivering that, what a wasted opportunity to bite some bullets. I am going to a westpac economic analysis on the budget on friday and I honeslty don't know what they could talk about. lunch should be nice

Hopefully there are a few beverages too

 

[grossreal]

hi all
call me stupid but can anyone tell.
from all the budget goooff
is there anything in it that will
reduce my costs of developing.
increase my margin that sits at about 10% now to get to the lenders 21% thats they want.
helps to get presales from anyone thats has a remote chance of getting lending.
and helps to get DA's thru councils.
because I haven't seen a single thing
except increasing costs which will reduce margin and less chance of funding.
no point giving 57 dollars to someone if these issue are not addressed.
and no point having a cash pool of 45 billion if no lender is going to lend to get the thing started in the first place and no funding for that area.
for me this was a sorryfull budget
yes it gives a warm fuzzy feeling to have means testing and work programmes but doesn't address the main issues.
costs are rising at the shop doors and
building is dropping if not stopped.
build a road to a place but by the way no one is ever going to be able to build there is not alot of point.

we have roads.
we have infastructure.
we don't have building and thats the simple point about it.
and nothing in this budget that I can see is going to start that
so more of the same for me and fuel will hit 2.00 within 12 months.
and mr swan will be scratching his head says now what do we do.

 

[imonmyway]

Well apparently my wife and I are classified as wealthy Australians now and dont qualify for a baby bonus or child care payments.

I don't know if I should be happy or ashamed.

 

[tubs]

Well apparently my wife and I are classified as wealthy Australians now and dont qualify for a baby bonus or child care payments.

I don't know if I should be happy or ashamed.

You should be ashamed, you selfish rich b&^%$#d.

Go out there and start giving something back to the poor downtrodden masses.

 

[alexlee]

Go out there and start giving something back to the poor downtrodden masses.

I'll give them a rent increase.
Alex

 

[Witzl]

I'll give them a rent increase.
Alex

i like the cut of your jib

 

[Ausprop]

I'll give them a rent increase.
Alex

they'll refuse to pay and drag you thru the tribunal and wreck your carpet just for inconveniencing them

 

[alexlee]

they'll refuse to pay and drag you thru the tribunal and wreck your carpet just for inconveniencing them

I've had tenants refuse. They just leave. And I advertise for a new tenant who will pay. I can honestly say I've never gone to the tribunal. Worst I've had was when the tenant absconded. I took their bond for repairs and claimed everything else on landlords insurance.
Alex

 

[Cales405]

Well apparently my wife and I are classified as wealthy Australians now and dont qualify for a baby bonus or child care payments.

I don't know if I should be happy or ashamed.

The primary income earner needs to earn +$150k p.a. to not qualify for baby bonus.

It is actually calculated 6 months after baby is born and needs to be less than $75k from primary income earner for you to be eligible and is effecttive 01/01/09

 

[lizzie]

I agree, much ado about nothing. fancy creating all that build up and then delivering that, what a wasted opportunity to bite some bullets.

yes - everyone on here was psych'd up for some real pain and expecting such ... not even a mozzie bite in the end.