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Economics Essay

1413 words - 6 pages


The Australian federal budget is a document that establishes the government's planned finance and it's conduct of operations. The purpose of the budget is to set out the economic and financial outlook for Australia and it includes consumption and income estimates for the current financial year, and 3 forward financial years. It also shows the government's priorities, and how the government intends to achieve this. Without the federal budget, the country wouldn't know where the nation's money is going to and why they're paying tax. It wouldn't know where the revenue will be spent or which category it requires more assistance. Hence, this is why ...view middle of the document...

The Gonski education is absolutely necessary for primary schools because Australian school's education is falling behind compared to the other countries education. If primary school kids gain good education from kindergarten, they will find it easier in the upcoming years such as the HSC or tertiary education. The companies still argue that there is a lack of skills to their employees because of our previous education system. Therefore, the Gonski education is vital because it will help kids become more educated and this lead to stronger economy in the future.
Just like the Gonski education, the NDIS is vital to all disabled people because everyone deserves a fair go. Without the NDIS, disabled people will have difficulties getting from place to place, especially if they are on a wheelchair, as there will be a lack of ramps. Also, without this, the disabled people will find it difficult to play for necessities, assistance and equipment, and it will be unfair to them. Hence, many people are supporting and looking forward to the NDIS as it will benefit the society as a whole.
As a contrast to this, too much money is spent on defence. The Australian government shouldn't spend $3 billion dollars for an attack aircraft as this money can be used for a better use. With half of this money, it can be invested in to research of establishing stronger weapons; we do not need “EA-18G GROWLER electronic aircraft”, we can just upgrade the aircrafts we have now for half the price. Too much money is going towards defence and it shouldn't have to be this way.
This table below shows all the members of the society and which ones benefit in the budget, and which ones don't.

The table below shows the winners and losers in the 2013 Federal Budget. The winners are the ones that benefit from the budget, where as the losers are on a disadvantage scale.
Winners | Losers |
School kids Gonski education reforms funded for 6 years, includes $2.9 billion dollars in budget over four years. | Business Tax increased for companies in order to raise $4.2 billion dollars over 4 years. |
Disabled people Disability insurance funded with $1.9 billion dollars in the budget for seven years. | Miners |
Commuters Infrastructure, rail & road programs included $24 billion in the budget. | Banks Offshore vehicles removed to raise $320 million dollars. |
Students & Employees Research, education and skills funding of $1.2 billion dollars in the budget. | Super funds & trusts Now must pay monthly tax bills: receiving $1.4 billion dollars. |
Disadvantaged Welfare and health spending: $1.8 billion dollars in the budget. | Importers Import processing charge introduced. |
Forests Supporting the Tasmanian forest agreement: $330 million dollars in the budget. | Parents Removed baby bonus, saving $1 billion dollars over 4 years. |
Compared to other countries, such as India or China, Australian primary...

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