The John Hyde Archives
Historic archive of articles and newspaper columns written by former Australian politician John Hyde OAM.
Budget
The 1983 Budget
- How much of the damage done by the previous budget can be undone.
- Displaying fiscal responsibility will enable the govt to be re-elected.
Unknown
Budget Fiscal Policy Monetary Policy
- A budget deficit is an unsatisfactory way to increase money supply.
- The prime role of a deficit is to conceal politicians' expenditures so that they can appear to be better managers than they actually are.
Another Premiers' Conference
- Premiers can make a lot of political trouble for a Prime Minister especially those that are from the same party.
- The Prime Minister has become a convenient whipping boy for state politicians that complain about Federal taxes while saying that the Federal Government's stinginess is not helping with their state's expenditures.
The Budget
- A good budget speech is one that discloses various interests at the first reading.
- Liberals preach free enterprise but practice socialism.
- Families should not be taxed additionally to provide free tertiary education where a student loan would suffice.
The Grass Roots Against Deficits
- State Premiers demand increased Federal grants but called for smaller government & lower taxes
- In the US, grass roots opinion is going towards the direction of limiting the growth of government and to impose a budget balance.
Brookings on Deficits
Budget Monetary Policy Fiscal Policy Economics
- Aside from printing money, a govt deficit must be financed by bidding for the same funds that private investors seek.
- Brookings' objection to a high budget deficit is that it will reduce economic growth by increasing consumption at the expense of investment.
- Deficits allow govts to spend money that is not raised in taxes.
Future Cost of Superannuation
- The case against budget deficits has several arguments. One argument is that it is unfair that future debts are paid by our children.
- Today's governments are making commitments to their employees which future governments are unable to fulfil without raising taxes. Future governments faced with this issue will find a way to welsh on their predecessors' promises.
Cutting the Deficit
- Any increase of public sector spending above the current level 44% GDP is not sustainable.
The Trilogy
- The trilogy promises are: 1) reduction of the Federal budget, 2) no increase in tax revenue and 3) reduction of Federal budget outlays.
- There is a need to increase investment to meet the trilogy.
The Budget
- The government has already implemented all the tax cuts it can afford and avoiding the real issue of expenditure. A good budget that does not achieve surplus of a billion without new taxes is a bad budget
At the Bottom of Our Troubles Is Misinformation
- Informed evaluation of issues by a free and competent press is central to democracy.
- There was no excuse for the media to not report the budget's weakness before it was pointed out by Senator Walsh.
Private Correspondence
- By deregulating our economy, we will be able to pay our public debts.
Some Budget Cuts
- We might have more confidence in the political parties if they would face up to economic problems instead of just promises to spend more.
The Wrigley Report
- The Wrigley Report questions the way that Australia spends on its defence forces. It raises questions that no one has the answers to.
Cut the Deficit and The Crap
- Tax cuts are highly desirable but only if a budget deficit is eliminated and government expenditure is reduced. A reduced deficit is a future tax cut.
US Trade Deficit
- With a deficit, the best thing that our government can do is to get out of the way of entrepreneurs that can take advantage of chances to produce goods and services.
Cutting Government
- Any expenditure cuts should be done in a timely manner by people who are familiar with budget outlays.
Budget Headaches - Burke and Hawke
Budget Industrial Relations Politics
- The best thing that can be done for the unemployed due to the recession is to reduce the wages of those that are closest to unemployment.
The State Budget
- When government use taxpayers' money, they get future generations of taxpayers into debt and they seldom use the monies as efficiently as the private sector. The government's issue is that it seldom a lack of specialist knowledge and a disregard for the public's opinion.
Australian And United States Deficit
Budget Economics Fiscal Policy
- Both the US and Australia have penalised investing by spending consuming more and will cause a reduction in productivity and hamper long-term economic growth.
The Election Result
Politics Budget Taxation Economics Fiscal Policy
- The election campaign extracted three promises from Bob Hawke: 1) no tax increases, 2) no increase in government expenditure without economic growth and 3) reduction in the budget deficit.
About
John Hyde OAM is a former Australian politician. He was elected as the member for the Division of Moore in Western Australia for the Liberal Party.
John Hyde OAM is the author of Dry: In Defence of Economic Freedom.