Jack Wyatt
Member
I believe any further defence acquisitions outside of those already included within then WP/ budget will need to be considered in terms of the international economic outlook and that of our own economy. Immediately, I'd suggest areas such as welfare, health and education are a much higher priority than a Pacific ship.
We know this current Government has doubled net debt since it has been in power and carries a $4bn deficit this FY.
FactCheck: has Australia's net debt doubled under the current government?
There are strong indicators that the economy is in a per capita recession.
Are we in a recession? Technical recessions, ‘per capita’ recessions and other statistical dips - Ai Group Blog
"The latest ABS data indicates that in 2018, Australia experienced two quarters of negative real income growth per capita (Q2 and Q3) and two quarters of negative real output growth per capita (Q3 and Q4). This means that aggregate incomes and output grew at a slower rate than the population during these quarters (i.e. below 0.4% q/q). If these trends were sustained and if the income being affected were broad-based, this would be of major concern for national growth trends".
In addition, Australia's best independent think tank, the Grattan Institute, last week determined that if the 2nd and 3rd tier tax cuts planned by the current Government go ahead, a $40bn per year cut to services will need be to be made to fund them. Where do the cuts to funding come from? Defence?
Explainer: is the Coalition planning $40bn of secret spending cuts?
All in all, we will consider ourselves lucky to get those acquisitions included in the WP/Budge,
We know this current Government has doubled net debt since it has been in power and carries a $4bn deficit this FY.
FactCheck: has Australia's net debt doubled under the current government?
There are strong indicators that the economy is in a per capita recession.
Are we in a recession? Technical recessions, ‘per capita’ recessions and other statistical dips - Ai Group Blog
"The latest ABS data indicates that in 2018, Australia experienced two quarters of negative real income growth per capita (Q2 and Q3) and two quarters of negative real output growth per capita (Q3 and Q4). This means that aggregate incomes and output grew at a slower rate than the population during these quarters (i.e. below 0.4% q/q). If these trends were sustained and if the income being affected were broad-based, this would be of major concern for national growth trends".
In addition, Australia's best independent think tank, the Grattan Institute, last week determined that if the 2nd and 3rd tier tax cuts planned by the current Government go ahead, a $40bn per year cut to services will need be to be made to fund them. Where do the cuts to funding come from? Defence?
Explainer: is the Coalition planning $40bn of secret spending cuts?
All in all, we will consider ourselves lucky to get those acquisitions included in the WP/Budge,