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2010-06-25

Rebalance the budget shouldn't be difficult

Comments on Michael Stutchbury “True grit needed to balance budget”, 25/06/2010, http://www.theaustralian.com.au/business/opinion/true-grit-needed-to-balance-budget/story-e6frg9p6-1225884048738
The two issues are closely related and the solution to both lies in an overhaul and redesign of the RSPT similar to the PRRT taking into account of State royalties and a rebalance of budget through other savings, such as the potential savings from a smaller and more focused and more efficient federal public bureaucrats, as proposed by the opposition.

The big problem, though, is that Swan, the designer of the current RSPT, is still the Treasurer who is responsible for negotiations with miners on RSPT.

He should have step aside from the Treasury portfolio and move to another one like to finance, employment or education with the hat of the deputy prime minister on.

That is, a seemingly promotion to get him away from Treasury.

He is unlikely to be a good Treasurer after the RSPT debacle.

On the new PM, she does need to move away a bit from her past approach to industrial relations and pay more attention to market efficiency and productivity. That is for sure.

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