Wed 14 May 2008 - Wayne’s first budget
You wouldn’t read my blog for any kind of comprehensive analysis of course, but here are my initial impressions:
Means tested baby bonus for incomes over $150K; extra tax on cars more than $57K? Excellent! Dunno why some are complaining about hitting the rich. The rich can afford it. Welfare should be reserved for those who are struggling.
I get a tax cut. I didn’t really need it, but naturally, I’m not complaining.
Lots of money for roads. A pittance for PT… but it’s not for actual construction, only studies. Marginally better than nothing (which is what the Coalition did for PT), but FELLAS, have you noticed petrol and oil prices recently? It ain’t getting any better, neither are transport emissions, and building more roads doesn’t help. They shouldn’t have promised them in the first place, but unfortunately they are still under the delusion that road expansion helps traffic congestion.
Some cutting back on fringe benefits lurks, which is good, but they haven’t yet pulled back on company car FBT, which costs $1.5 billion a year while encouraging more driving. Maybe that’ll come out in the tax review. Some other stuff towards fighting climate change, but nowhere near enough, and the roads spending doesn’t help. More funding for health and education is good.
Overall, not outstanding, not terrible. Could do better.