Sunday, September 05, 2010

Treasury Comparison

The Independent MP's have had briefings from Treasury officials about the costings of the election policies of both the ALP and Liberal-National Party Coalition. These costings, and some policies important to them, will form the basis of which side of politics forms a minority government in Australia: a largely centrist-conservative Labor government; or a more right-wing conservative Liberal-National Coalition government.

A summary of the costings can be viewed at
Labor Party Costings
So, which is the better economic manager? I doubt you could form an opinion based on these documents. the only possible conclusions are that: there is little difference between the final figures from Treasury; that the Liberals did not use standard Treasury methods for their costings (based on the number of adjustments Treasury made). In terms of economic management, the sharemarket is indifferent, perhaps indicating that investors largely recognise that there is little or no significant economic difference between Labor and the Coalition. The market is more concerned about its ties to what happens in the US economy/sharemarket, and, to a lesser extent, in Europe.

My conclusion from the Treasury costings and the parties' public policy documents is hat the Liberals & Nationals lean more towards personal wealth, rather than community (public) wealth. That is, they want to distribute more public money (tax) to private entities, both individuals, and private companies, than does Labor.

I think it is important to retain, and enhance, our community/public wealth through investment in public education at all levels, public health and social programs that benefit individuals, communities and society. Becaue of those beliefs, I was once called a "latte-sipping, chardonay-drinking, left-wing (John) Howard-hater" by a Liberal Party supporter. I took it as a compliment.