ARTIKEL 1
Budget 2014:
Teresa Gambaro says proposed debt levy will 'devastate the economy'
Federal Government MP Teresa Gambaro
says the proposed debt levy will "devastate the economy" and is
urging the Cabinet to ditch the idea at its meeting in Canberra today.
The Member for Brisbane says the tax
hike being proposed for higher income earners will be a broken promise, and has
lashed out at the Prime Minister and his office's way of dealing with the
backbench.
Ms Gambaro advocates more spending cuts
over raising taxes and says the Government is failing to communicate with
voters properly.
"We didn't go to the election with
a debt levy and I believe it's a breach of promise," Ms Gambaro told the
ABC.
"At the last election we went to
the Australian people with a promise of being a government of no surprises, so
it's absolutely incumbent that after the six years that we went through of
Labor's chaos and confusion that we provide certainty and leadership."
Ms Gambaro has echoed concerns raised by
former treasurer Peter Costello, who says the deficit levy will have "no
economic benefits" and could harm growth.
"It
will cause great uncertainty and it will cause devastating impacts on the
economy," she said.simple ficture direct
“[It will] reduce consumer confidence,
it will stop people from spending. That in turn will have an impact on the
business community and their ability to employ people.”
Cabinet ministers have arrived in
Canberra to finalise the Government’s first budget due next Tuesday, including
a critical decision on how the proposed debt levy will work.
Cabinet will be asked to approve raising
income taxes for people earning more than $180,000 per year.
It is not yet decided how long the hike
will last or if it could also hit those on lower incomes of above $150,000.
Speaking to reporters on her way to Parliament House, Deputy Liberal Leader
Julie Bishop said she would not comment on deliberations before the Cabinet.simple
fictur inderect
"I don't discuss Cabinet meetings
in advance of Cabinet meetings. I don't discuss budget matters prior to the
budget being handed down," Ms Bishop said.
Asked if a debt levy could constitute a broken promise, Ms Bishop said
"everyone will have to wait until next Tuesday night when the budget's
being handed down, that's a matter for the Treasurer to announce on budget
night".modals
The Prime Minister is advocating the
temporary levy because the Government says it is the only way the rich can
share the burden of repaying the nation's debt.
Tony Abbott says it would not breach his
pledge to not introduce new taxes because the levy would only be
"temporary".
Growing list of MPs condemning debt tax
Ms Gambaro joins nearly half a dozen
Government MPs who have gone on the record condemning the idea of a debt tax.
They include Liberal senators and MPs
Zed Seselja, Cory Bernardi, Warren Entsch and Nationals MP John Cobb.
But other MPs are defending the executive's rationale, saying the Coalition
inherited a deficit which has to be solved.modals
Liberals David Bushby, Bob Baldwin,
Russell Broadbent and Ewen Jones are all backing the proposal to raise income
taxes, with Mr Baldwin telling the ABC the debt cannot be solved by
"wishful thinking".
Labor is opposing any deficit levy,
calling it a "deceit tax".
Junior minister Jamie Briggs says Ms
Gambaro is unwise to be pre-empting the budget, which Cabinet is yet to
finalise.
"Teresa's a backbencher, and she's
entitled to talk about issues that she wants to. But I think it would be wise for Teresa to wait until next Tuesday to start
expressing views on the budget, until she's seen the entire budget," he
said.fictur continues indirect
"So it seems a little pre-emptive
for her to be commenting publicly in the media about something she doesn't know
the detail of."
Mr Briggs also brushed aside Mr
Costello's criticisms of the debt tax, saying it is not an unexpected attack
from a former politician who has vacated the field.
"Former footballers always claim
that football was a better standard when they played and thus their comparative
performance was always better," Mr Briggs said.
"It's not surprising that people
are entitled to their view."
Abbott needs to consult more with backbenchers: Gambaro
Ms Gambaro says the dissent from
Government MPs is evidence the executive needs to fix the way it deals with the
backbench.
"There's not enough consultation
with the backbench," she said.
"I wasn't consulted on paid
parental leave, I wasn't consulted on any of these prospective policies, and I
think there needs to be greater consultation with the backbench.
"There is no question that there is a very tough budget deficit and
that we have to take some tough measures, everyone understands that, but we
need to take people with us and we need to communicate better."modals
And she says that includes the way Mr
Abbott himself deals with his colleagues, as well as his office.
"He
really does need to communicate with the backbench a lot better than have been
the case," she said. Present perfect continous direct speech
"I think that it needs to improve.
There's not enough two-way flow of information, and when you're bringing in
signature policies like paid parental leave, you really do need to bring that
to a partyroom meeting.
"I don't think you can just pull
surprises out of a hat."
Ms Gambaro says the electorate is not
taking kindly to the Government's unexpected announcements, like the
restoration of knights and dames.
"That certainly was a surprise ...
and you even have a former prime minister questioning the validity of bringing
that back," she said.
"I think there needs to be greater
communication and the backbench needs to be consulted more and that's the way
it is."
ARTIKEL 2
Steve Forbes: Our Pendulum is better than Europe's
Stagnation
In this exclusive interview, the CEO of Forbes Media and Editor-in-Chief of
Forbes magazine, tells MH&L the times are right for those who can keep
their sea legs while sailing our economic ocean.
In advance of Steve Forbes' presentation at this month'sProMat 2013 Exposition in Chicago, MH&L had the
opportunity to ask Forbes for a preview—both of his remarks and of the year
ahead for supply chain professionals. As you'll see in the following Q/A,
this two-time candidate for the Republican Party's presidential nomination and
current CEO of his own publishing company is optimistic the economic pendulum
will swing back in business's favor—at least those businesses that plan for its
return.
What challenges will supply chain professionals face in the coming year and how important will supply chain strategy be to companies?
The whole trend of economics is toward more and more sophisticated and extensive supply chains. You see it in everything, including iPhones, which come into this country with $171 worth of parts. It's assembled in China, but out of that $171 worth of parts, only $6.50 of them are actually manufactured in China and the rest come from around the world, including Japan, Malaysia and Germany. Ten dollars worth of those parts come from the U.S. Those parts go from the U.S. to China then come back to this country in the iPhone. These chains are becoming unimaginably complex. So even though the New Year will be difficult economically and politically, the trend is toward greater sophistication in making things happen, and that will grow.
Are the people coming into this field getting the education they need to do the job?
The challenge is that we don't know how things will unfold, we just know it will happen. The nice thing about marketplaces is most people will get what they need in terms of knowledge. Thanks to the web that knowledge will be easier to get. But even in manufacturing which we tend to think of as related to labor costs, more and more in the future it will depend on brain power, just as in other areas of the economy. What we did five or ten years ago will not be what we'll be doing tomorrow. We see that in the media industry.
What challenges will supply chain professionals face in the coming year and how important will supply chain strategy be to companies?
The whole trend of economics is toward more and more sophisticated and extensive supply chains. You see it in everything, including iPhones, which come into this country with $171 worth of parts. It's assembled in China, but out of that $171 worth of parts, only $6.50 of them are actually manufactured in China and the rest come from around the world, including Japan, Malaysia and Germany. Ten dollars worth of those parts come from the U.S. Those parts go from the U.S. to China then come back to this country in the iPhone. These chains are becoming unimaginably complex. So even though the New Year will be difficult economically and politically, the trend is toward greater sophistication in making things happen, and that will grow.
Are the people coming into this field getting the education they need to do the job?
The challenge is that we don't know how things will unfold, we just know it will happen. The nice thing about marketplaces is most people will get what they need in terms of knowledge. Thanks to the web that knowledge will be easier to get. But even in manufacturing which we tend to think of as related to labor costs, more and more in the future it will depend on brain power, just as in other areas of the economy. What we did five or ten years ago will not be what we'll be doing tomorrow. We see that in the media industry.
|
We're hearing that the whole concept of
digital manufacturing will change logistics, including the need to move products
digitally rather than physically. Is that a game changer?
It certainly will be, but what people have to keep in mind is even as things are moved differently, the volume will grow.modals
It certainly will be, but what people have to keep in mind is even as things are moved differently, the volume will grow.modals
What we've been through since the financial crisis four years ago, what
they call the new normal is really the new abnormal. It won't last, even though
next year it will feel like it's lasting. The fever will break, policy changes
will be made and the number of things happening in the world will grow
exponentially.
That sounds like both a threat and an opportunity for supply chain managers.
Yes, as it always is. Those who can step back and start to immerse themselves in things that are starting to unfold in manufacturing in terms of new materials, especially if entrepreneurs can take a proactive approach instead of waiting for something to happen, try to anticipate the thing happening, they'll be ahead of the game. People are looking for solutions. We saw in the early part of the last decade when people knew the web was a big deal but didn't quite know how, and did a lot of things they normally wouldn't have and shouldn't have just to look like they were up to date.modals
That sounds like both a threat and an opportunity for supply chain managers.
Yes, as it always is. Those who can step back and start to immerse themselves in things that are starting to unfold in manufacturing in terms of new materials, especially if entrepreneurs can take a proactive approach instead of waiting for something to happen, try to anticipate the thing happening, they'll be ahead of the game. People are looking for solutions. We saw in the early part of the last decade when people knew the web was a big deal but didn't quite know how, and did a lot of things they normally wouldn't have and shouldn't have just to look like they were up to date.modals
You don't have to feel you need to be active just to be active. The
marketplace will tell you pretty quickly what needs to be done if something new
comes along.
How can companies find the talent they need to react quickly and appropriately?
With today's economy, when you face a shortage of certain kinds of workers they get training very quickly. People apply and get what they need to get. The biggest educators in this country in many ways are not our schools and colleges, but the workplace. That's where you learn, because it's either that or you don't work. You see this in the legal profession. Most experts will tell you that of three years of law school, one and a half are useless. You could do it in a year and a half. The real education begins when you go to work. But given the uncertainty out there, you don't find as much educating as you normally would. It's a commitment. This is where an outsider can come in and supply that education for the company, determining its needs. You see this in the energy industry. People figure that will be around for a long time, so you have kids going to North Dakota and they learn very quickly and get paid very well.
How does this apply in the supply chain space?
Take the finance industry, which has grown enormously since the 70s. That's a peculiar thing. The only reason it happened is because of the turmoil and turbulence revolving around the U.S. dollar. The finance industry should be a fraction of the size it is today.modals
How can companies find the talent they need to react quickly and appropriately?
With today's economy, when you face a shortage of certain kinds of workers they get training very quickly. People apply and get what they need to get. The biggest educators in this country in many ways are not our schools and colleges, but the workplace. That's where you learn, because it's either that or you don't work. You see this in the legal profession. Most experts will tell you that of three years of law school, one and a half are useless. You could do it in a year and a half. The real education begins when you go to work. But given the uncertainty out there, you don't find as much educating as you normally would. It's a commitment. This is where an outsider can come in and supply that education for the company, determining its needs. You see this in the energy industry. People figure that will be around for a long time, so you have kids going to North Dakota and they learn very quickly and get paid very well.
How does this apply in the supply chain space?
Take the finance industry, which has grown enormously since the 70s. That's a peculiar thing. The only reason it happened is because of the turmoil and turbulence revolving around the U.S. dollar. The finance industry should be a fraction of the size it is today.modals
When we start to get normalcy again in monetary policy, which is the most
boring subject in the world, and that will happen, because this craziness
cannot continue, you'll see labor—people who get six-figure salaries, and not
just the blue collar workers—you'll see a shift in terms of job creation.
You're starting to see it already on Wall Street. Most of the time you hear
about layoffs, not big hirings. That means the field of supply chain management
will be competitive for talent again.
Is that what you'll be addressing at ProMat?
We'll be in the first part of 2013, and the economy will be slower and turbulent, and that will finally generate a new debate on how to get real economic growth. This whole thing about the fiscal cliff—which will thankfully be over by the time we meet, we hope—is ridiculous. This idea of how much we raise taxes and on whom is preposterous, given the fact that Europe and Japan are in recession and we're slowing down. You don't bleed a patient who is losing strength. [The fiscal cliff debate] was akin to asking how much poison we should administer to the patient.
So does surviving this process bode well for businesses?
It bodes well for those who advocate real substantive, major reforms. Reagan put in major reforms because of circumstances and the economy rebounded. From 1983 to 2007, although we had two minor recessions compared to this one, we had an extraordinary period of expansion. It will happen again, it's just a matter of when. We shouldn't forget that in the late 70s we had the Prop 13 Movement in California, which presaged Reagan's reforms, you had a capital gains tax change in the late 70s with Democrat support, so things were stirring before the big change actually happened. Jimmy Carter came out in favor of deregulation of the airlines and trucking.
It sounds like you're saying we live with a pendulum, where if things threaten to go too far one way then forces will bring it back. Is that how things will always go?
Yes, in this country. In Western Europe the pendulum hardly swings at all, which is why until the financial crisis our average real growth rate was 50% higher than Western Europe's. They grew at 1.8% or 2% and we grew at about 3.3 or 3.5% and we had the largest developed economy in the world.
So it's better to live with a pendulum economy?
Temporary stagnation is better than permanent stagnati0n.
Is that what you'll be addressing at ProMat?
We'll be in the first part of 2013, and the economy will be slower and turbulent, and that will finally generate a new debate on how to get real economic growth. This whole thing about the fiscal cliff—which will thankfully be over by the time we meet, we hope—is ridiculous. This idea of how much we raise taxes and on whom is preposterous, given the fact that Europe and Japan are in recession and we're slowing down. You don't bleed a patient who is losing strength. [The fiscal cliff debate] was akin to asking how much poison we should administer to the patient.
So does surviving this process bode well for businesses?
It bodes well for those who advocate real substantive, major reforms. Reagan put in major reforms because of circumstances and the economy rebounded. From 1983 to 2007, although we had two minor recessions compared to this one, we had an extraordinary period of expansion. It will happen again, it's just a matter of when. We shouldn't forget that in the late 70s we had the Prop 13 Movement in California, which presaged Reagan's reforms, you had a capital gains tax change in the late 70s with Democrat support, so things were stirring before the big change actually happened. Jimmy Carter came out in favor of deregulation of the airlines and trucking.
It sounds like you're saying we live with a pendulum, where if things threaten to go too far one way then forces will bring it back. Is that how things will always go?
Yes, in this country. In Western Europe the pendulum hardly swings at all, which is why until the financial crisis our average real growth rate was 50% higher than Western Europe's. They grew at 1.8% or 2% and we grew at about 3.3 or 3.5% and we had the largest developed economy in the world.
So it's better to live with a pendulum economy?
Temporary stagnation is better than permanent stagnati0n.
DIRECT SPEECH
1.
"It will cause great uncertainty and it
will cause devastating impacts on the economy," she said.simple ficture
direct speech
2.
"He really does need to communicate
with the backbench a lot better than have been the case," she said.
Present perfect continous direct speech
INDIRECT SPEECH
3.
Speaking to reporters on her way to
Parliament House, Deputy Liberal Leader Julie Bishop said she would not comment
on deliberations before the Cabinet.simple fictur inderect speech
4.
But I think it would be wise for Teresa
to wait until next Tuesday to start expressing views on the budget, until she's
seen the entire budget," he said.fictur continues indirect speech
MODALS
5.
Asked if a debt levy could constitute a
broken promise, Ms Bishop said "everyone will have to wait until next
Tuesday night when the budget's being handed down, that's a matter for the
Treasurer to announce on budget night".modals
6.
But other MPs are defending the
executive's rationale, saying the Coalition inherited a deficit which has to be
solved.modals
7.
"There is no question that there is a very tough budget
deficit and that we have to take some tough measures, everyone understands
that, but we need to take people with us and we need to communicate
better."modals
8.
We saw in the early part of the last
decade when people knew the web was a big deal but didn't quite know how, and
did a lot of things they normally wouldn't have and shouldn't have just to look
like they were up to date
9.
The finance industry should be a
fraction of the size it is today.modals
10.
It certainly will be, but what people
have to keep in mind is even as things are moved differently, the volume will
grow
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