News

LNP Senator O'Sullivan says budget not in crisis ... yet

NO CRISIS, JUST YET: Senator Barry O’Sullivan and Blair MP Shayne Neumann.
NO CRISIS, JUST YET: Senator Barry O’Sullivan and Blair MP Shayne Neumann.

NEWLY-elected LNP Senator Barry O'Sullivan admitted there is no budget crisis today as the message from the Abbott Government's Federal Budget becomes increasingly confusing.

The Abbott Government sold its raft of budget cuts on the basis the nation's finances are at crisis point.

But Mr O'Sullivan agreed with fellow speakers Blair MP Shayne Neumann and Suncorp economist Darryl Conroy at the Ipswich Chamber of Commerce budget breakfast that the nation's economic situation is not an emergency - yet.

"The crisis is not today. I accept we don't have a crisis today, I accept that. But if we didn't deal with the structural issues in this budget, I promise you that the levy of $7 would be a hell of a lot more in a decade from now," he said.

The pair sat side by side, even shared a glass of water.

But Mr Neumann and his LNP counterpart Mr O'Sullivan were at polar opposites when discussing the Federal Budget.

Mr Neumann said the budget delivered many cuts to services and broken promises, particularly regarding the petrol excise.

"I don't recall during the last campaign at any stage Tony Abbott saying he was going to put a $2.2 billion tax by increasing the indexation in relation to petrol. At no stage did we see that mentioned at all," he said. Economist Darryl Conroy said Australia's performance over the past decade and through the global financial crisis was remarkable.

Mr Conroy said with the mineral and energy boom beginning to slow down, government revenue will fall and tax payers will have to endure more charges.

"The mining boom provided many years of increasing budget surpluses, this accompanied rising welfare payments and the holy grail of tax cuts," he said.

"We'll see less government revenue, we're now going to see the continuation of more government deficits across all forms of governments and the consequent cuts to the likes of welfare spending and then bring up that really dirty word. We might call them levies or temporary payments - they are taxes. And we are going to endure a period of those rises."

"The pipeline of investments and infrastructure investments is telling us that by about mid-year this year we do start to slow down on many of those projects as they complete.

"However as the mining sector now starts to turn on its heels and prices have peaked way back in 2011, we are now starting to see that gas sector slow a little, we are going to see a reversal of some of those influences."

Topics:  barry o'sullivan federal budget 2014 ipswich chamber of commerce and industry shayne neumann



Springfield group warned over button battery balloon release

The State Government will not prosecute ICON Community Inc over the New Year's Eve balloon release.

Department of Environment and Heritage Protection issues warning

UPDATE: Bank reveals no job losses despite branch closure

CLOSED FOR BUSINESS.

Not enough physical customers to keep doors open

Vincent O'Dempsey guilty of McCulkin murders

Barbara McCulkin and her daughters Vicki and Leanne disappeared from Highgate Hill in January of 1974. Vincent O'Dempsey, from Warwick, has been on trial for their murders.

The McCulkin murder trial jury says Vincent O'Dempsey is guilty.

Local Partners

I was just screaming 'my baby is in the car'

Anne-Marie Priggins could have never predicted the gut-wrenching circumstances that would unfold.


Your gig guide to a great night out in Ipswich

THAT'S ENTERTAINMENT: Don't miss out on the offerings from the top spots in town.

The latest on the live music scene across the city

Paddinton Bear is coming to Ipswich

IN TOWN: Annette Kitching plays the part of Paddington Bear in The Cute Little Bear From Peru at the Incinerator Theatre.

FAVOURITE children's character set to delight in new show

What to expect at Birds of Tokyo's Ipswich gig

The band will perform at the Racehorse Hotel on Friday.

BAND member Glen Sarangapany talks music, pub grub and doing shoeys

Model Bella Hadid's see-through dress shocks in Cannes

JUST WHEN you thought you’d all of Bella Hadid’s supermodel figure — she gets her Cannes out on the red carpet of an AIDS gala dinner in France.

No room for morbid fans

Chris Cornell.

Fans want to stay in the hotel room where Chris Cornell died

Star Wars' 1977 Stormtrooper head banger confesses

A Stormtrooper is responsible for the biggest blunder in a Star Wars movie. Picture: Supplied

Man in most famous blooper in Star Wars history breaks silence

MASTERCHEF: David Thompson Thai test for Ipswich cook Nicole

Willowbank's Nicole Stevenson is a contestant on MasterChef Australia. Supplied by Channel 10.

"I love how he's being so true to the cuisine"

Lyn's knock-out show gets her to next round on The Voice

ONWARDS AND UPWARDS: Lyn Bowtell is through to the battle rounds on The Voice.

'It was bitter sweet to win like that'

Is this the talent you get when you limit electronics?

Cassidy Kilburn in the Get the Beat International Dance Competition.

Cassidy, 11, preparing for national dance championships

Report reveals progress on $319m airport upgrade

Aerials of the Sunshine Coast.Jetstar plane in front of the Susnhine Coast terminal, Sunshine Coast Airport.

Over two dozen government approvals needed for airport expansion

Lost dough leaves sour taste after company collapse

Kathleen and John Mahoney from Sugar and Spice Bakery were stung after the collapse of Cantro Pty Ltd and are still owed money.

Supermarket operator collapse leaves sour taste for bakery

'Ridiculous': Council refuses renovation at heritage home

NOT FAIR: Karen Solomon of Newtown is angry with Ipswich City Council for refusing her plans to build a colonial style double car port at her Newtown home.

Council rejected development application

Council refusal of 'high density' development ends in court

Ipswich City Council first meeting with the new 2016 council.

Developer took the matter to the Queensland Planning Court

Open for inspection homes May 25-31

Check out this weekend's homes open for inspection

Ready to SELL your property?

Post Your Ad Here!