What is the key issue to emerge from the budget?
“The Commonwealth Budget offered no surprises for financial markets but did provide a platform for the delivery of tax reform.
Costello’s Budget speech was largely a tactical exercise in using economic outcomes as bait for government initiatives in tax reform and privatisation. Hence, the link between the elimination of debt and the further sale of Telstra. Other links included the notion of funding family assistance through the tax reform pro
What is the key issue to emerge from the budget?
“The Commonwealth Budget offered no surprises for financial markets but did provide a platform for the delivery of tax reform.
Costello’s Budget speech was largely a tactical exercise in using economic outcomes as bait for government initiatives in tax reform and privatisation. Hence, the link between the elimination of debt and the further sale of Telstra. Other links included the notion of funding family assistance through the tax reform proposals now being debated in the Senate and the funding of rural services through the sale of the second tranche of Telstra.
I do think, however, that the expanded regulatory role of the ATO will be significant for the future. The ATO is clearly going to be the central body in the increasingly co-ordinated surveillance activities of various regulators.”
Maree Lovell,
Godfrey Pembroke Financial Consultants,
Adelaide.
“I must admit didn’t seem to have much value to the budget. There were no changes to superannuation, but that is not really news. I guess it is a steady as it goes budget.
The Budget in surplus should be a positive in keeping interest rates lower.
There was also talk in the budget about the GST but now that isn’t even going through. I don’t think the market was affected.”
Tony Gray,
Shadforths,
Tasmania
“Apart from the further changes to investments for surplus funds, there was nothing else, at least not any major changes. The issue regarding social security is not going to affect us. As for financial planning, it is steady as she goes.”
Greg Curry,
Senior Adviser
Morgan Stockbroking, Queensland.
“I think it is hard, it is really steady as she goes. There was much emphasis on the social issues. We’ll have to wait for the plans for the GST to get a better-balanced answer. Really it is a matter of wait and see.”
Noel Land,
Director
Noel Land Financial Services,
Northern Territory.
“Well I think it is steady as she goes. It is good for investors and good for stocks.
With the GST obviously coming through with the super, keeping inflation low is one of top proiorities for the Government. If the GST goes through it would definitely be good for the Australian economy”
Joseph Dukes,
Dukes Financial Services,
Melbourne.
