Monday, 28 April 2014

Welcome to Hockeynomics - Part One

Hockeynomics - noun
1. Economic calculations having little or no rigour 2. Economic reports in which truth or fact is whatever the Australian Treasurer wants it to be

Treasurer Joe Hockey's claims that his wealthy constituents enjoyed some of the highest bulk-billing rates in the country are looking a little washed out.
Mr Hockey said last week the cost of Medicare is growing at twice the speed of the economy and that co-payments are ''certainly something that is in the mix'' for the budget.
''Now I want to emphasise my electorate of North Sydney has one of the highest bulk-billing rates in Australia and I have one of the wealthiest electorates in Australia,'' Mr Hockey told ABC radio. ''To me there is something wrong with that.''
In fact, Mr Hockey’s electorate had Sydney’s fifth-lowest bulk-billing rate, 70 per cent, according to 2010-2011 Department of Health data, the most recent available. This is below the national average.
A spokeswoman for Mr Hockey declined to provide any data to support the Treasurer’s comments, saying only: ''The electorate has a high rate of bulk-billing for affluent areas.''
The government’s expenditure review committee has reportedly approved a $6 co-payment, capped at 12 GP visits, meaning patients would pay a maximum of $72 extra each a year.

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