Whenever I worry about the Government only getting it right about three-quarters of the time, I am reminded of just how bad things could be if the other mob took over again. As is said, for every problem there is a solution that is neat, plausible and wrong. Labor seems to have a lock on every one of these solutions as does its cheer squad in the media.
GDP rises more rapidly than expected. Good news, yes? Don’t you worry about that, there’s always a leaden cloud around on even the sunniest days. The first para from the Business Editor of the SMH:
The imbalance in the Australian economy was highlighted further on Wednesday, with the mining industry contributing around 80 per cent of the jump in growth.
Well if it’s imbalances you’re after, let me then suggest this:
The new national minimum will be $640.90 per week, or $16.87 per hour. It amounts to a 50 cents per hour increase to the hourly rate.
The 50 cents per hour is there no doubt to trivialise the amount. I-spit-on-your-50-cents-an-hour kind of thing. Really, why mention it unless you are trying to show how minimal the increase actually was. But 50 cents an hour or not, it comes to $33,333 per year. Do you see that? No one in this country, no matter how minimal their skills and experience, may by law be paid less that $33,333 per year. And then try to employ someone for the weekend or nights. Don’t forget the super and workers’ comp. We are a high wage economy trying to deal with low productivity growth.
This is a hard row to hoe for business. It’s not easy to find that kind of money. If you are running a coffee shop, you need to sell 9523 cups of coffee over the course of a year at $3.50 and that’s before the on-costs get counted in. What a good idea it must also have been to raise the cost of energy as well through the carbon tax.
Labor, and its Labor-lite supporters you can find in the oddest places, love the populist bits. But the reason Labor is not the permanent government of this country, in spite of all of the populist stuff they peddle, is because they drain the country of its economic energy. Tony and company are doing what they can in the face of massive resistance since in each person’s own world, there is no reason they can see why they can’t have more of what’s going for less effort in actually helping to produce.
I can only say I wish them well in trying to fix things up, because there really is a lot to fix.