Turnbott sells everything he is not

From PM Turnbull over the weekend brainwashing some Victorian LNP party members:

Now my friends we are at a pivotal moment in our history as we transition from an economy that has been fired up by an unprecedented mining construction boom as we transition to the new economy of the 21st century.

In this election year, there is only one central issue – whether we complete our transition to the new economy or we allow Labor to kill off that opportunity. This transition is one I’ve consistently talked about for years. It is clear that in order to succeed, in order to remain a high wage, generous social welfare net, first world economy, we need to be more innovative, more competitive, more productive.

It is that transition which will deliver our children and grandchildren the great jobs they deserve not just today, but tomorrow and for years to come. This is the most exciting time to be an Australian. The opportunities have indeed never been greater, but success is not guaranteed. That is why we are directing every lever of government to ensuring Australians can make that successful transition. That is what the next election will be all about. Who do the people trust to steer the course to a secure, prosperous and exciting future?

Under my government and our economic leadership we are seeing strong confidence and growth – 3 per cent real GDP growth last year; over 300,000 new jobs created – the highest since 2007, well before the global financial crisis. And the keys to continuing that successful transition are technology, innovation, investment, infrastructure and open markets

So it was in December we launched our Innovation and science Agenda – $1.1 billion committed to bring more Australian ideas to market, incentivise entrepreneurs and invest more in education and research and ensure that our researchers collaborated more with industry and business, so that more of the fruits of that research translated in to jobs and opportunities here at home. As part of that agenda, we are making it easier for start-ups and innovative small businesses to access early stage capital, making it easier for more to access government contracts, making it easier for them to take great ideas to market and to grow.

We launched our Defence White Paper –investing $1.6 billion over 10 years in local industry to build skills and drive competitiveness while harnessing Australian innovation and expertise. And right across the defence White Paper, in the tens of billions of dollars in expenditure to ensure our armed forces have the capabilities to keep us safe in the years to come, we are ensuring in so far as we can that every dollar we spend will be spent in Australia. Because we build our security not simply by giving armed forces, our armed forces the physical capabilities, the physical assets they need, but by building the Australian industries and the Australian technologies that will create them. So both in terms of the capabilities and the investment, an industry that knows we are behind them. The defence White paper is a plan not simply for strategic security but for economic security in the decades before us.

In the face of concerted Opposition from the Labor Party and the union movement we drove the China Free Trade Agreement legislation through Parliament and over 85% of Australia’s goods will enter China duty free as a result. We have continued to invest in water infrastructure to ensure our agricultural exporters get the best out of our Free Trade Agreements. We are supporting record levels of infrastructure through a $50 billion infrastructure package – and Infrastructure Australia’s rolling 15 year plan gives certainty to industry, to promote private investment, and ensures funding is directed to infrastructure that delivers real tandum economic benefits.

Now as part of that plan we are committed to supporting high quality transport projects here in Victoria.

I spoke earlier of our commitment to the East-West Link. Well that will have to wait for the arrival of Premier Matt Guy. In the meantime, the Treasurer and I have written to our counterparts, Andrews and Pallas, to advise them we cannot allow the $1.5 billion previously earmarked for the East-West Link to be left sitting idly in the state’s accounts — or artificially propping up the Labor Governments Budget.

We need to put that money to work. Accordingly, we are prepared to commit the $1.5 billion held by Victoria, plus all interest earned, to these land transport infrastructure projects that have been identified in Infrastructure Australia’s Priority List.

$500 million towards the Monash Freeway upgrade.
$350 million towards the Western Ring Road upgrade;
$220 million towards the Murray Basin freight rail upgrade;

All of them requiring a matching contribution from the Victorian Government

We will also fund two sub-packages as part of that $1.5 billion to improve economic development in cities and in regional Victoria: $340 million collectively towards Rural and Regional Highways promoting safety right across the state. $75 million towards smaller Urban projects to relieve congestion.

One of the projects funded will be a $10 million Commonwealth commitment to upgrade The Great Ocean Road

The aim of all of these projects is consistent and follows the direction and the planning of our government, driving economic growth, improving productivity, making it easier for business to move goods around the city and state, enable Victorians to get where they need to go with less disruption and inconvenience

Better transport infrastructure is vital to our economic success.

In the 21st economy, however, human capital is our most critical asset. Enabling the skills, talents and ingenuity of our people defines our future success. That’s why we’re determined to continue to improve workforce participation.

We’re introducing a $3.2 billion child-care subsidy making it easier for parents, particularly those on low incomes to go back to work. This should bring the equivalent of 20, 000 full time workers back into the labour market. We’re investing $322 million in the Transition to Work program to improve the work readiness of young people aged 15-21

In telecommunications we’ve eliminated around 3,000 mobile blackspots nationwide, through round one of our program, with an additional $60 million invested in round 2. We’re investing $7.8 billion in the NBN this financial year, which means by June 2018, three in four Australians will have access to the NBN.

And you know after six years of Labor Government, after so many billions of dollars of waste, after so much fibre-to-the-press release, do you know how many premises in Victoria had been connected to the network in built up areas? Slightly more than 5,000.

Our government has worked hard to turn around that abysmal performance. And I would acknowledge which five of my successors, minister for communications, those of us that have been involved in big projects will attest; the melancholy experience of life is that bad projects generally get worse, generally they get a lot worse. We are turning this very bad project around. We can’t recover all of the money Labor lost but we are improving it in terms of performance and delivery. As of last week, 385,000 premises in Victoria have access to the network and we have increased the number of connections in built-up areas by twenty fold.

We are establishing a new $1 billion Clean Energy Innovation Fund, I want to acknowledge Greg Hunt for his leadership in putting that together. Investing $100 million every year in cutting-edge Australian clean-energy technologies and business to ensure we not only drive jobs and innovation but also play our part responsibly and effectively in reducing carbon emissions.

The Budget we will hand down on May 3 will include changes to our tax system designed to generate jobs and growth; promote investment, innovation and enterprise. But overarching all of this, however, is a fundamental truth — governments at all levels, and all Australians concerned for the future economic security of our country, have to accept the reality that we must live within our means.

This Budget will not be about a fistful of dollars. It will be about prudence, fairness and responsibility to our future generations.

Boy, our PM is one slippery eel. This is the perfect message for the times. The election is indeed all about transitioning the economy.

The problem is the policy is not there to back it up. The list of reforms is woefully thin and also ignores the various retrograde steps taken his government that includes cutting education funding and ruling out all of the major tax reforms directed at increasing Australian competitiveness. There is no mention of the dollar nor of productivity.

Given the PM clearly knows exactly what should be done, his policy platform is all the more cynical for neglecting it.

 

Comments

  1. he talks about this transition like something we wanted for ages but for some reason we didn’t have an opportunity to do?
    wtf? who was stopping us to transition to “productive 21st century economy in 2001, or 2008 or 2013?
    plus he is talking baout some imaginary 21st century economy that doesn’t really exist anywhere outside of dream of people like him? no country in this world is able to get out of old free money bullshit jobs economies

    • wtf? who was stopping us to transition to “productive 21st century economy in 2001, or 2008 or 2013?

      2001 – Prime Minister John Houses and Treasurer Capitalgainsdiscount Costello.
      2008 – Red Pill Rudd envisioned an economy beyond the mining boom but he was politically out of his depth to deliver and saw any and all plans scuppered by rent seekers, the dumbos on the Opposition bench and power brokers in his own party.
      2013 – Eh… Tony Abbott became PM. You actually needed to ask? 🙂

      • You forgot a hostile senate during Rudd’s time as PM. The LNP had huge number of senators and family first held the balance of power and pretty much voted with the LNP. Greens weren’t able the wrestle some power from the conservatives until Gillard’s term, hence she had much easier time passing legislations.

      • @Kevin True, I forgot how hostile the Senate was at that point. Greens and independents really needed to be on side with the Libs still holding massive power plus Family First always voting with them against Antichrist Rudd.

        Now that you mention it, the hung parliament of the Gillard era looks quite functional in comparison…

      • It was only a hung in the lower house during Gillard’s time, the upper house was clear of nut cases.

    • Strange Economics

      Australia has world leading innovation by its professionals. Every scientist , doctor, IT person or tradie I have met innovates all weekend, innnovating kitchens and new colour schemes painting their investment flats. Then they use innovative negative gearing and CGT strategies. Its world leading skills from all. No one wastes their time starting a technology company on the weekends.

    • Strange Economics

      Australia has world leading innovation All the top scientists, doctors, finance gurus and politicians innovate in their rental houses all weekend. World leading NG and CGT exemptions. Who needs the Caymans when you have the property tax loopholes, all legal !

    • “no country in this world is able to get out of old free money bullshit jobs economies”

      In a nutshell!

  2. sydboy007MEMBER

    trust a merchant banker to work out how to mortgage their soul twice, possibly more than that.

    the devil being hoodwinked. soul futures are a giant ponzi in hell 🙂

  3. Yes; as you say, H&H,

    “The problem is the policy is not there to back it up. The list of reforms is woefully thin and also ignores the various retrograde steps taken his government that includes cutting education funding and ruling out all of the major tax reforms directed at increasing Australian competitiveness. There is no mention of the dollar nor of productivity.”

    Mr Turnbull needs to add at least $100,000,000 to his “Innovation and Science agenda” over 3 years to make it work.

    THE BASIC SOLUTION TO MR TURNBULL’S WISH FOR A “BETTER” ECONOMY IS SIMPLE:

    (I refer to Australia below but the same solution is essentially universal for all advanced economies).

    We need massive government spending on R&D in potentially deflationary industries including clean alternative energy supplies, nano technology research and development, and medical research (including the effect of lifestyle and diet on diseases such as cardiovascular, diabetes and cancer). A subsequent deflationary effect that will occur in all of these industries and parts of the economy affected and will bring for example lower power prices and medical costs. This deflationary effect will pay for the government expansion and will provide employment in a transformed high tech Australia.

    This a a form of QE for the people instead of for the finance and banking industry at a time when new debt cannot be used as a stimulant because private debt is too high.

    Coupling such an approach with a reduced level of immigration (except for experts who are essential to fill job roles in the areas of expansion) and the end of negative gearing and the end of superannuation advantages for the rich will provide government with additional tax cash to beneficially use to further the expansion. Further, the cost of business and other premises for use in the expansion will fall, as will the cost of homes in which to live, and the expansion will be further fired-up with many more opportunities for entrepreneurism.

    Notably, accurately targeted deflationary stimulation creates a virtuous circle where government must spend more to off-set deflation. Thus, a virtuous circle is created until no more deflationary inducing spending is possible. At this point the population has the advantages of a newly established higher standard of living and the government stimulation can be withdrawn.

    As an example of deflationary expansion take this recent medical advance broadcast by the ABC:

    MARK COLVIN: Federal health authorities are overhauling the nation’s cervical cancer screening program. The changes mean that women could do their own pap smears at home.

    They’re also recommending that tests could be done every five years rather than two, and that they should start later in life.

    The Australian Medical Association says the overhaul is a game changer that will transform gynaecology worldwide.

    Penny Timms reports.

    PENNY TIMMS: Pap smears can help to prevent cervical cancer by detecting changes to the cervix. Tests are currently recommended for women aged 18 to 70, or who’ve ever been sexually active.

    Traditional testing is uncomfortable and involves a doctor or nurse placing a small device into the vagina and collecting cells from the cervix, which is located at the opening of the uterus.

    But that test is changing.

    The Australian Medical Association’s Dr Gino Pecoraro is an obstetrician and gynaecologist.

    GINO PECORARO: This is such a huge step forward, can I tell you. This is fantastic. This will be the best system in the world.

    PENNY TIMMS: Under the changes, the testing method will alter slightly for women wanting to do a smear themselves at home.

    The other big change is to the analysis of cells.

    Also, the age of testing will rise to 25, because many young people are now vaccinated against one of the main triggers of cervical cancer, human papillomavirus.

    GINO PECORARO: Instead of looking for atypical cells, we’re now going to look for HPV DNA. It’s easily done. In fact in some cases women can do it themselves, which becomes very important if women live in very remote locations and they don’t have access to a doctor that they feel comfortable to perform what is an intimate examination. And if that test is negative, we can actually stretch it out to every five years.

    PENNY TIMMS: The HPV DNA tests are already available, but are not covered by Medicare, so are expensive.

    But come May 2017, the test will be covered by the Federal Government and an education program will be rolled out to explain the changes.

    The take-home kits are tailored to women who refuse to get traditional tests for personal or cultural reasons.

    Liz Kennedy is a nurse with Queensland Health who travels to some of that state’s most remote communities.

    She says rural patients face a number of hurdles just to access health services.

    LIZ KENNEDY: Lack of transport, the distance to the clinic – it might be a couple of hours – or it might even be that someone lives in the town and it’s 40 degrees and it’s a bit difficult to get to the clinic – just access to health services. I go to most areas every one to two months or so but it might be when I’m not there or they might just want to see another practitioner.

    PENNY TIMMS: She says there’s also a lack of understanding about pap smears, so some women put them off.

    We need massive government spending on R&D in potentially deflationary industries including clean alternative energy supplies, nano technology research and development, and medical research (including the effect of lifestyle and diet on diseases such as cardiovascular, diabetes and cancer). A subsequent deflationary effect that will occur in all of these industries and parts of the economy affected and will bring for example lower power prices and medical costs. This deflationary effect will pay for the government expansion and will provide employment in a transformed high tech Australia.

    This a a form of QE for the people instead of for the finance and banking industry at a time when new debt cannot be used as a stimulant because private debt is too high.

    Coupling such an approach with a reduced level of immigration (except for experts who are essential to fill job roles in the areas of expansion) and the end of negative gearing and the end of superannuation advantages for the rich will provide government with additional tax cash to beneficially use to further the expansion. Further, the cost of business and other premises for use in the expansion will fall, as will the cost of homes in which to live, and the expansion will be further fired-up with many more opportunities for entrepreneurism.

    As an example of deflationary expansion take this recent medical advance broadcast by the ABC:

    MARK COLVIN: Federal health authorities are overhauling the nation’s cervical cancer screening program. The changes mean that women could do their own pap smears at home.

    They’re also recommending that tests could be done every five years rather than two, and that they should start later in life.

    The Australian Medical Association says the overhaul is a game changer that will transform gynaecology worldwide.

  4. The vampire squid offspring comes to life in dear leader after shallow and pointless speech to the mindless party animals.

  5. “Boy, our PM is one slippery eel. This is the perfect message for the times.” and “Given the PM clearly knows exactly what should be done, his policy platform is all the more cynical for neglecting it.”

    That’s one description. Another might be shameless barefaced liar.

    And it really goes a bit deeper than that even.

  6. “In this election year, there is only one central issue – whether we complete our transition to the new economy or we allow Labor to kill off that opportunity. This transition is one I’ve consistently talked about for years. It is clear that in order to succeed, in order to remain a high wage, generous social welfare net, first world economy, we need to be more innovative, more competitive, more productive.

    It is that transition which will deliver our children and grandchildren the great jobs they deserve not just today, but tomorrow and for years to come.”

    Says the man who head-stomped the NBN.
    He basically told Australia to stick with sails when steam was well under way.
    That propellers, not jets are the future of aviation.
    We don’t need to build roads. You only need roads if you have cars and Australia can do just fine with its horses and carriages.
    Why bother with penicillin and antibiotics. Have a glass of water. Homeopathy is all the rage and all that we need. Apart from a few leeches of course.

    Oh, and if you look at the whirlpool NBN fact site it has this shocker.
    “3 December 2015: Leaked internal documents from NBNCo reveals remediation costs to Telstra’s copper network have blown out by 900%”
    http://whirlpool.net.au/wiki/nbnco_2014_

    Which was predicted by Nick Ross when he reported that Telstra wasn’t doing any maintenance on its copper network. This was due to knowing that the NBN was around the corner and it thought that either fibre would be put in.
    http://www.abc.net.au/technology/articles/2013/02/21/3695094.htm

    “The Cost of Maintenance

    The current copper network costs over $1bn each year to maintain. Over 80 per cent of it is over 30 years old and copper expires after 30 years. Increasing anecdotal evidence suggests Telstra has all but given up on regular maintenance and fixes issues only when broken (if at all) – what’s the point in paying to maintain a network that is on its way to the scrap heap?

    This is the self-same network that the Coalition plans to use as the basis of its broadband infrastructure. What also comes with this is increased maintenance work for some 50,000 to 70,000 ‘nodes’ (large roadside cabinets).

    Water is the enemy to copper. However, glass fibres are chemically stable and, by comparison, incredibly robust. They hardly suffer at all from rain or deluge. Fibre maintenance is much cheaper than that of copper.”

    I’m a bit rantier than usual today as I went to look at another website and was hit in the eye by an ‘Innovations Boom’ advert. That propaganda campaign should have been funded out of Malcolm’s private fortune.

    • Turnbull was too busy white-anting Tony Abbott to worry about such trifling things as the NBN. If he had been really into his portfolio he should have sold off the ABC/SBS and pumped the money into the NBN.

  7. adelaide_economist

    To actually ‘transition’ to something other than a third-world dystopia would require moving beyond the incredibly narrow and politically constrained ‘debate’ parameters that exist in Australia today.

    Largely enforced by the hysterics of the Coalition prior to winning Government, but also not effectively challenged by Labor or others, public policy debate in Australia now:

    – takes it as a given that taxes can only go lower, not rise (openly, at least) with no permissible discussion on the purpose of, distribution or incidence of those taxes

    – entrenches unfair and unequal policy that benefits a party’s donors without regard to the economic and financial impacts

    – raises a budget surplus (even when it is neither desirable nor even achievable) to some sort of talisman rather than simply the outcome of a government balancing what is happening in the private sector

    – present noxious policy decisions as something ‘good’ even when all the evidence suggests at best a mixed result (see FTAs,for example)

    – subvert independent analysis or findings wherever possible in favour of the preferred ‘narrative’

    In this sort of environment there is simply no way forward, and no meaningful reform possible. Handing the country over to oligarchs (and not even Australian ones anymore, in most cases) hardly constitutes a bright vision for our ‘innovative’ future for the vast majority of Australians.

  8. Why do we need childcare subsidy to allow people to enter the labour force when we import this 457 Visa underclass ? I read recently there were close to 800k foreign workers in Australia.

  9. I think the fact that Pauline Hanson was an MP during the 1990s is what stopped AUS from having mass immigration before 2001.

    Now that she is gone, the immigration rate is 300,000/year!