All international companies operating in Australia must pay tax in Australia. It may be prudent to revisit a 10% turn over tax that existed in the fifties and early sixties in other Commonwealth countries.I have read 400 billion could be going out untaxed each year. Ten percent of which is 40 billion. Then give 10% of this new revenue stream to the needy and pensioners. The other 90% should be quarantined to balance our fiscal books and after a very few short years no more current budget deficit. However, NO BUYING ELECTIONS with this money. No raising taxes required.
Put super to work: It should be compulsory for all all super funds to invest ten percent of their funds in government infrastructure bonds. These guaranteed bonds should not pay less 2% above term deposit rates and never less than 5% back to investors. Currently we have over 2 trillion dollars sitting in super. Again 10% gives the country 200 billion of funds for our much needed infrastructure such as transport, hospitals and education.Then every time some one puts $100 dollars into super the fund grows by $10. No raising taxes required. The implementation of this policy alone will free up current budget constraints and provide a solution to getting the budget back in the black. The management of “putting super to work” has to be a government function and responsibility.
It is time for Governments to get back in the business of running the country as part of their core responsibilities. The ” landlord approach at arms length” has failed especially when we see what has happened to our outsourced utilities.
Rebuild our Vocational Education system that has been dismantled by our current federal and state politicians. For example a certificate two course has risen from a cost of circa $240 to a $2,500 cost to the student. The average family does not have this amount of cash lying around. The end result is a person who cannot afford training is now forced to live on unemployment benefit when they would prefer to be gainfully employed in the workplace. For years TAFE put the country back to work in their hour of need. Rebuild TAFE and get the country trained and educated and back to work.
NO MORE “selling off” Australia. Unless for job growth in non sensitive areas.
We hear a lot about the promises for new ‘transport infrastructure’ from all major parties for the Northern Beaches. However, there is no way $400 million wasted on fancy bus stops and painting buses some new colour will solve the problem at all. The busses are already stuck in Mosman and Neutral Bay trying to get onto the bridge during rush hour. Similarly proposed road upgrades do not solve the problem where traffic is already completely gridlocked in Gordon and Ryde. I think everyone knows what the real answer is and that is trains. However, we need strict housing density controls in place.
Repeal legislation that taxes super funds retrospectively as people plan their retirements around laws made in previous years.
Political donations to cease in any shape or form.
Coal Seam Gas and Fracking destroy valuable farmland and water resources. We are the driest inhabited country on earth where water and productive farmland are scarce. We can not damage them beyond repair. The answer is NO to fracking.
Mortgages for housing to revert to the old standard: namely the size of the mortgage is based on 30% of disposable income. This always in the past served as a buffer to stop the price of housing escalating out of control. Any buffer will suffice as the current approach by our financiers is based on ability to borrow as opposed to ability to repay.
Rethink the rules concerning foreign ownership of residential property.
The bickering between State Government and federal Government over money can easily be solved by scrapping our State Governments, as Australia is over governed. They dissolved councils with a stroke of a pen when they might have considered strengthening councils and removing the costly middle layer. No other country has this middle layer of government.
During a recent trip to USA and I was staggered at the progress they are making with renewable energy. We need to start building now for twenty years plus time or get left behind in the new industry that has a capital cost only. Coal will be around for 30 to 50 years more as a minimum as we change to new energy sources. We must think ahead to the possibility that the rest of the world will sign up to agreements where the demand for coal could be drastically reduced. And where will that leave us?