Labor's $700M Black Hole/Costello's Credibility

[Shannow]

"I'll stake my reputation" - Costello

But in a serious embarrassment for the Treasurer, his own department concluded in an analysis released last night that the tax cuts, in fact, would cost less than Labor estimated.

Labor estimated that its tax cuts, which include a $5000 increase in the top tax threshold in 2006-07, would cost revenue a net $8.1 billion over the next three years.

But Treasury has concluded that the cost would be $7.6 billion.

Nice little trap that one, overstate the figures whle still offering a surplus, and let them dig a hole.

 

[spawn]

Owned.

 

[Spiff]

Joe Hocking, the Tourism and something else minister, was on Sunrise this morning saying that it's Labor's fault for not working it out correctly. "How can you get it wrong by $500 million?" he asked, probably not in those words.

 

[Spiff]

Or maybe it's Joe Hockey. I don't know. Chubby bloke though, is always on the show with Kevin Rudd.

 

[phlogiston]

Did anyone else see that Tony Abbott interview the other night? It's been played on a few different spots.

Interviewer: Have you met with a (some sort of priest) in the last few days?
Abbott: Not that I can recall
Interviewer: (Recites the name and location of the meeting that took place a week ago)
Abbott: *looks uncomfortable* Now that you mention it, yes, I did meet with (X) Why shouldn't I meet with (X)? (X) is a great (type of priest), and we'd all be better off if we spent more time meeting with (X).

That guy makes me cringe more than Costello. At least Costello has his moments.

 

[Shannow]

Joe Hocking, the Tourism and something else minister, was on Sunrise this morning saying that it's Labor's fault for not working it out correctly. "How can you get it wrong by $500 million?" he asked, probably not in those words.

Spiff, I saw that this morning.

It was a nice try, but whenever you are dealing with finances (at least my experience in the corporate world), you underestimate the benefits, and overestimate the costs to ensure that it will stack up if theres a minor cost over-run or the project doesn't achieve all its targets.

It's prudent and safe.

 

[Shannow]

phlogy,
I saw that original interview the other day also. He looked like an utter dill, for trying to lie about meeting a Cardinal.

Chaser News gave him a really good serve on that last night

 

[phlogiston]

Yes, now that you've mentioned it was Cardinal Pell.

Yep, the Chaser really put the icing on the cake about him for me last night. He looks like a combination of a deer caught in th headlights and a snake about to bite you.

 

[Shannow]

Actually, thinking about Hocking's (?) statements.

$500M in $7.6B is 6.6%
$1.2B in 7.6B is is 15.8%

I'd not elect to rest on those economic credentials.

 

[Goreripper]

Joe Hockey was the idiot who suggested that Sydney is too small and needs to be made bigger.

 

[Spiff]

http://www.news.com.au/common/story_page/0,4057,11010625%5E36596,00.html

Bah.

 

[spawn]

In the words of Fatty Vautin, Labor is goooooooooooooooooooooone. Seemingly...

 

[phlogiston]

Yeah, but then there's this:

http://theage.com.au/polls/national/results.html

 

[Celestial-Todd]

The only poll result I pay attention to is the one at the end of the election

 

[spawn]

Why would they do a poll then you idiot? ITS OVER!

 

[Celestial-Todd]

The election is just one massive poll, so technically I'm still right!

 

[spawn]

Nevermind

 

[spawn]

I was being sarcastic/stupid by the way Todd, lest you think I was seriously calling you an idiot

 

[Celestial-Todd]

Yeah I know... but I never pass up an opportunity to show people up!

 

[Shannow]

I was off crook yesterday, and was listening to Lawsie as he predicted a crushing coallition victory.

His survey was conducted at a book signing, where he asked 100 people (who were getting Lawsie's latest book signed by the voice of God himself) who they were going to vote for.

1 person i.e. 1% was going to vote Labor