Australia’s Royals Fiscalist Mini Budget

October 22, 2012 § Leave a comment

 

  The Current fiscalist Australian Royalty moved today to consolidate their immunity from fiscal pain by passing more of the cost of their ego driven indulgence to the public while taking away more of the value Australians receive for their tax dollar.

 
 Treasurer Wayne Swan’s balancing act 
 
Cuts to spending & tax increases:
  •  Australian Taxation Office will help raise an extra $1.6 billion over the next four years by focusing on “outstanding income tax lodgements in the micro and small business segments” as well as profit shifting and high net worth individuals. 
  • $157 million of grants program cuts – including $100 million in savings over four years from “re-targeting” the extremely popular Export Market Development grants program
  • 4% cuts sought from most government departments
  • Increase in cigarette excise
  • Increase in Entry visa tax.
Increased Government Spending:
  • defence (most spent on questionable foreign dictated offshore /secret onshore projects)
Decreased Government Services
  • Mini budget calls for 4% cuts to most government department budgets.
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