Australian Federal Election 2010: Bowen does Hartsuyker on superannuation

Australian Federal Minister for Financial Services, Superannuation and Corporate Law and Minister for Human Services Chris Bowen, speaking of NSW Nationals MP for Cowper Luke Hartsuyker, according to Hansard on 24 May 2010 courtesy of OpenAustralia:

One month ago the shadow minister for superannuation—and, yes, there is one; it is the member for Cowper—gave a speech to the Australian Institute of Superannuation Trustees.

It was a scripted, written speech.

As far as we know the member for Cowper might have even rehearsed in front of the mirror, so we should have been able to take what he said as the gospel truth.

He said that the opposition in government would allow people over 50 to make concessional top-ups to their superannuation payments.

That was a commitment from the shadow minister for superannuation.
It lasted one month.
On 19 April this was announced as policy by the shadow minister for superannuation.
On 19 May, the shadow minister for finance announced this was no longer opposition policy; it had been discontinued.
It lasted a month. Their commitment to people aged over 50 lasted a month.
How inconsistent can you be?
But the Leader of the Opposition is probably very pleased with this. He is probably pleased with the inconsistency.

We're all in trouble when the Australian coal industry lobby begins an advertisemnt with this graphic

A NewGenCoal online advertising link to its website on 24 May 2010

Not everyone stays on a webpage for the complete advertising slideshow and so might not be aware that the people at NewGenCoal are actually referring to climate change denialism in this graphic - not their own stated position on global warming.

Still, this image does feed the prejudice of some in the Australian energy sector.......

Remember when overseas travel was an Oz rite of passage?

Remember when overseas travel was an Oz rite of passage? When dressed in our best clobber we boarded that ocean liner or hopped on a Qantas or Boeing flight and, with a letter of introduction to Grand-aunt Susan's second cousin once removed in the north of England, we headed overseas on our great adventure? One of the lucky few who had managed to scrape together the money for such a luxury or perhaps one of the very privileged who had received enough money to cover travel costs as a 21st birthday gift. Well times have changed. Today's global travel is inexpensive by comparison and Generation Y is lapping it up.
According to Roy Morgan this month:
"The majority of Generation Y have moved out of home according to a recent study by Roy Morgan Research. In the 12 months to March 2010, only 25% of Gen Y now live with their parents (down from 51% five years ago), with 40% living with a partner, 27% in a shared household and 8% in some other arrangement. Additionally, 27% of Gen Y now have children.
More than half of Generation Y have completed a tertiary qualification or are still studying at a tertiary institution (53%) with 45% of them currently in full time work.
Almost all Gen Y (95%) have accessed the internet in the last 4 weeks, with 80% having accessed a community or messaging site, such as Facebook, and 27% having bought, sold or shopped online in the last 4 weeks. 62% also agree that they 'are always ready to try new and different products' — higher than both Gen Z (58%) and Gen X (57%)." and

"Gen Y * is more likely than other generations to have taken at least one overseas holiday or leisure trip in the last 12 months, according to the latest Roy Morgan Research Single Source data.

In the year ended March 2010, 25.4% of Gen Y had taken at least one overseas holiday or leisure trip in the last 12 months, ahead of Baby Boomers (22.6%), Gen X (17.7%), Pre-Boomers (15.4%) and Gen Z (14.8%).

* Gen Y is defined as Australians born between 1976 - 1990; Gen Z between 1991 - 2009; Gen X between 1961 - 1975; Baby Boomers between 1946 - 1960; and Pre-Boomers 1945 or earlier.

"As Generation Y of Australia age, move through the life stages, and become increasingly wealthy over the next decade they could potentially represent a larger proportion of tourism expenditure in Australia. The challenge is that many of Gen Y are choosing an overseas holiday rather than a domestic one.
"Gen Y have diverse cultural backgrounds, but as a group they are highly educated and career minded. Roy Morgan Research has recently released a report on Gen Y Holiday and Leisure Trends which can assist tourism operators and destination marketers in understanding what motivates Gen Y, how they relate to the world, and how to communicate with them."

Vandals told to take up a sport or start knitting

Haylee Gough, Chloe Duroux, Lily Porra and Tayla Lambeth are Year 6 students at Grafton Public School. They penned the following piece for the local paper, The Daily Examiner.

Stop the vandalism

AS Year 6 students we are all sick and tired of inconsiderate vandals destroying our schools almost every weekend, disturbing our schoolwork, costing us money and forcing someone else to clean it up.

These thoughtless people are disturbing our schoolwork. Children can't work in their classrooms if the general assistant or their teacher is cleaning up the mess or something is being replaced.

Vandalism is costing schools across Australia millions of dollars a year. This money could be better spent on school resources, sports equipment and electronics, like whiteboards and computers.

Someone always has to clean up the mess, whether it is the cleaner, general assistant, teachers or maybe even the students. It is very dangerous to clean up broken glass and burnt property.

In conclusion, we insist that these vandals stop what they're doing NOW! If they're so bored on the weekend, why don't they take up a sport or start knitting.

Source: The Daily Examiner, 25/5/2010

Nats Kevin Hogan spins the resource profits tax for his NSW North Coast audience

Well one NSW North Coast Nationals federal candidate in this year's Australian federal election, Kevin Hogan, thinks he has finally found a local issue on which to hang his hat.

His 25 May 2010 letter to the editor in The Daily Examiner suggests that the new resource profits tax and rebate scheme (an opt-in replacement of the crude oil excise operating in parallel with state royalties) will seriously impair Metgasco's Casino project:

A tax too far
I MET with representatives from Metgasco last week.
They are gravely concerned that the Rudd Government's proposed new Resource Profits Tax will in their words 'seriously impair' Metgasco's Casino project.
They have written a letter to Kevin Rudd expressing their concerns.
Metgasco has invested tens of millions of dollars in the project to date.
It has the potential to offer local jobs and boost the local economy.
It also will offer a supply of 'clean' energy to the Northern Rivers, replacing some of our reliance on coal-powered energy.
This project does not deserve to be killed off by another bad policy decision by the Rudd Government.
Local jobs are more important than Labor taxes to pay for wasteful spending.
KEVIN HOGAN, Nationals Candidate for Page

Predictably Mr. Hogan has gone electioneering without looking into the company background.

In 2007 Metgasco Ltd received a $1 million grant from the Australian Government to assist with its exploration and development in the Clarence-Morton Basin [RWE Australian Business News, 1 May 2007].

Three years later in April 2010 Metgasco told the Excellence in Oil & Gas Conference that it had "A$29 million" in cash at the end of 2009, no debts, energy resources (ten gas/oil exploration wells showing significant coal seam gas reserves ) in trial production with good profit margins anticipated once fully operational and, that the Casino power station had reached development application stage.

According to what the company told ASX at the end of April it is continuing to investigate gas commercialisation opportunities and currently in discussions with several prospective customers and will be progressing its exploration and testing activities.

The company's share price is also tracking above the last ordinary share issue listed price of 11 May 2010, according to the Australian Securities Commission this week.
This despite the fact that share price had been steadily falling between mid-April to early May this year:



















[ASX,Metgasco Ord,Chart of daily prices over 6 months,Dec 2009-May 2010]

Indeed to date the company has never again reached the heady days of 2007 and 2008 when it share price went over the dollar.

Despite the Nationals candidate's protestations, the 11 May budget night announcement does not appear to have affected this company's Casino project. Something a spokesperson had to concede to The Byron Shire News on 11 May 2010.

The fact is that at this point in time Megasco is more an exploration company, rather than a fully operational development and production company generating strong positive cashflows and demonstrating significant value creation.
Therefore it is nowhere near attracting any form of 'super profit' in the foreseeable future.
The company would appear to be some years off from paying any appreciable level of tax directly to federal or state governments.

Metgasco is just another mining company lobbying against the prospect of paying a decent return to the nation when the good times roll and, Kevin Hogan just another wannabe politician happily stirring the pot in pursuit of his own ambitions.

***************************************

Hogan's attempt to spin the deferred national emissions trading scheme met a similar response from a NSW North Coast resident in The Northern River Echo on 13 May 2010:

Carbon dating
Kevin Hogan levels the charge at Kevin Rudd that the Prime Minister only believes in the latest opinion poll on an issue (Echo, May 6). Amongst other things, Mr Hogan links this claim to the deferral of the emissions trading scheme. Maybe Kevin Hogan doesn't study opinion polls because they have consistently shown over the last few years that the vast majority of Australians do want to see government action to decrease carbon pollution. Recent polling has the figure running at 65% in favour and it has been higher than that. The federal Labor government has attempted to get a price on carbon pollution and did strike a deal with Malcolm Turnbull to get the carbon pollution reduction scheme through the Senate. The Liberal/National coalition then moved to change its leadership to prevent the scheme from being enacted. Global warming may still be the greatest moral issue of our time but the Liberals and the Nationals do not believe that it is, and are doing all they can to make sure this Labor government does not get an emissions trading scheme underway. The electorate will have the opportunity to break the deadlock in the Senate at the next election. Maybe then we won't be in a position where the coalition blocks everything socially and environmentally progressive. A delay is not a backflip when the people creating the delay are the opposition parties. The cowardice on the issue of carbon pollution and global warming is being displayed by the Liberal/National coalition.
Eric Kaiser,Kyogle

Mid-week blues......

Clarence Valley and Yamba are special

 

Letter to the Editor published in The Daily Examiner on 24 May 2010:

 

Hospitality a hit

I RECENTLY brought my invalid mother Joy Hempenstall to Yamba for a four-night stay.

What started out a logistical nightmare became a seamless dream for her and for us, and I could not have done this without help from services provided by the Clarence Valley.

I have struggled with ways to thank them as everything seemed to pale into insignificance.

I hope these heartfelt words of thanks will reach them.

Firstly, we could not have Joy stay at our home because of stairs etc so we booked her into The Cove. Georgina and Jim were fantastic from the moment of inspecting the most suitable rooms to looking out for us during Joy's stay and various people coming and going. In fact it was hard to get Joy off the balcony overlooking Main Beach and who can blame her.

The girls at Maclean Community Health came to our rescue with the supply of equipment like bed sticks and the like. We were able to create a mirror image of where Joy resides in care in Brisbane and so provide a safe and familiar haven for her.

Clarence Valley Nursing provided overnight care for my mother and this enabled her to have some independent company and someone else to look out for her while I was able to slip off back home. She became so attached to these gorgeous girls she didn't want to let them go or she wanted to take them back to Brisbane with her.

Just when you think everything is going well I damaged a wheelchair I borrowed from a friend and with one desperate call to Janene at RSL Life Care I was able to pick up another chair within 30 minutes.

Joy experienced the very essence of Yamba while shopping at Zig Zag's Boutique, BWL Jeweller and Sweet Vintage where everyone was so kind, patient and helpful to us.

You people are amazing.

You have collectively given an old sick woman more to live for in five days than she has had for the last five years.

 FELICITY HEMPENSTALL, Yamba