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Insurance Business | 04 Sep 2013, 07:00 AM Agree 0
With just days until the Federal Election, brokers are giving their views on the main contenders in the race.
  • Bruce | 04 Sep 2013, 09:03 AM Agree 0
    Alternatively we can return labour to govern and have them act like an 18 year old with their first credit card. We are all going to have to repay the debt and it is going to hurt. What is most disturbing is what have we got for this enormous waste of money???
  • Kay | 04 Sep 2013, 09:58 AM Agree 0
    Spot on Bruce. Unfortunately, too many people confuse the ANNUAL budget deficit of $30/40,000,000,000 (I don't like the word billion - zeros are more accurate) with the ACCUMULATED debt of $300,000,000,000 by this inept government and nothing to show for it. Ooops sorry - we got pink bats, overpriced and unnecessary school extensions and of course cash handouts to name a few vital expenses.
  • isaac hakim | 04 Sep 2013, 10:05 AM Agree 0
    labour has spent that last 6 years disrupting
    business ,spending billions on nothing and stabbing each other (Rudd /Gillard)
    another 3 years would be horrific
    for all of us ,business and the nation
  • Peter A Peirano PIRANHA INSURANCE BROKERS | 04 Sep 2013, 10:39 AM Agree 0
    Kevin 07 or 13 , could not manage a chook raffle, Like all good business we need as a country to balance the books most of the time,there will be times where deficit is needed. Labour could not mange a change float in a small raffle let alone Australia. The problem I see is that we pay our Politian's peanuts & hence the monkeys all all political persuasion we have. Why is it that the C.E.O.'S of banks are on close to or more than $10M & our Prime Minister is on far less than $1M ?
  • Jack | 04 Sep 2013, 10:46 AM Agree 0
    @Bruce your comments reflect the naivety of the electorate. We have the third lowest public debt in the WORLD. It is not a bad thing for a country to have debt. Having money tied up in infrastrucure projects is better than having it sit in a bank account as a surplus. Do you think that millionaires just have their cash lying around in bank accounts? No.

    You also probably have a mortgage on your home, you're in hundreds of thousands of dollars of 'debt', does that make you a bad person or a bad with finances?

    Predictably, most of the answers to this article question are to vote for the Coalition. Small business is kidding themselves if they think that it's going to make an iota of difference to their operations. You're all expecting tax cuts and more money for your business. You do know that Tony Abbott is going to increase taxes on small business by $4.6bn?

    Kay Jackson is a prime example of why Labor should exist. The whining about increasing employee's super is a prime example of small businesses screwing over employees. 0.25% per year per employee is nothing. With 25 employees, it comes out to around $7000 a year. Being a smart business person, you'd merely look to increase fees or similar. It's a miniscule amount.

    But that's all good, go ahead and vote for the Coalition. The proof will be in a years time when you're no better off, nay, worse off, than you were today.
  • Bruce | 04 Sep 2013, 11:24 AM Agree 0
    @Jack you don't own your own business do you? You are a salaried employee aren't you? And yet you lecture on how to run a small business and the insignifigance of various overheads. Infrastructure projects. I wish that is where the money is tied up
  • Dean McCauley | 04 Sep 2013, 01:06 PM Agree 0
    @Jack, you suggest that Bruce is naive but it would appear to me a case of pots and kettles. Yes I have a mortgage and am thousands of dollars in debt but my fortnightly budget is in surplus 99.9% of the time. This means that I am saving and one day will pay off my home. However, if my fortnightly budget was in constant deficit then I am not saving and will never pay my home off and will just keep sinking further into debt. On comparison, it is the latter that the current Labor Govt is doing and you seem to think that is okay? Who's the naive one now?
  • Jack | 04 Sep 2013, 01:26 PM Agree 0
    @Bruce

    I am actually a salaried employee AND a small business owner, with three employees. I speak as both and the business I work for supports the super increase, as do I to my employees.

    @Dean

    Your fortnightly budget? The current government's 'fortnightly budget' is also bringing in taxes and our public debt is also not increasing at any worrying rate.

    Please help yourself and go read up on Australia's public debt (not private debt!) and explain to me why you think it's all currently doom and gloom, but we have the third lowest debt by GDP in the world.

    Lastly, tell me, what happens when we reach a surplus? We just have all this money laying around earning some measely rate of interest, money which could be invested in education, health, technology and research?

    The Coalition have fooled you, and many others, into thinking that public debt is a bad thing, and they've succeeded. Let this be a mark in time and in three years time, at the next election, you can look back and see if voting LNP was really worth it. You'll tell me it was, but inside, you'll realise it was a mistake. Goodbye to the NBN, goodbye to the NDIS, but heck, let's make all those mining companies super rich!
  • Dean McCauley | 04 Sep 2013, 03:19 PM Agree 0
    @Jack - The point is, is that having a surplus means that we are meeting all our costs/expenses and the surplus can then be used/invested wisely, whether that be further infrastructure, more hospital beds, better/cheaper tertiary education, whatever. It can used to make our lives better and may also include tax cuts. Further, at what point did I say debt was bad? Debt is fine provided you can pay it off & that goes for private and public debt. To say we're the best of a bad punch is not something I like to hang my hat on. If your budget is perpetually in deficit means you have to keep borrowing to meet your costs and if you can't pay back your debt then bankruptcy is inevitable and countries can go bankrupt too not just individuals. You do remember Greece don't you? Yes, there are many differences between my personal budget and that of the nations. The number of zeros for one. But at the end of the day, the basic principals are the same. You cannot continue to live where your expenses out way your income.
  • Robert Cooper | 04 Sep 2013, 05:12 PM Agree 0
    Just want to point out, that it was a Coalition Government (though it received bipartisan support) that brought into being one of the most ridiculous pieces of red tape being the Financial Services Reform Act. A piece of legislation that manages to bypass direct insurers and their responsibilities to the consumer which had been practiced anyway by good Brokers without needing such a complex "over the top" act of parliament. FOS is still inundated with disputes - and they are mostly direct insurers disputes.
  • Dean McCauley | 05 Sep 2013, 08:41 AM Agree 0
    Hi Robert, I think you'll be hard pressed to find anyone in the insurance industry that would disagree with that one. "Over the top" is a bit of an understatement if you ask me and not to mention unnecessary. That said, unfortunately you can't have it all one way and whatever party that you do vote for will inevitably do something that you don't agree with.
  • Male Broker | 05 Sep 2013, 09:51 AM Agree 0
    Labour showed the great economic credentials they have when I got my stimulus cheque for my flat screen TV at JB Hi-fi……what a waste of cash that was….a tax break would have been better to gradually release funds and steadily increase household spending!

    Speaking of debt pretty sure a surplus is a good thing as most “rich people” have cash readily available for when the sh!t hits the fan i.e GFC. The cash is required to ensure we weather the storm without a major decline in the standard of living…its called planning for the future!

    Let’s be honest if Syria happens and China has a further slow down we don’t have any cash readily available to weather the storm without borrowing further which starts a slippery slope to more debt and pollies are really only worried about the short term as we see in other countries so they will borrow more as it will be the “other sides” problem in 3 years time!

    One thing that labour have done well is ensure that builders are earning as much as some in the medical profession….got to love the power of the unions! (Which makes us really competitive on the world stage in terms of international investment)


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