Please find below an opinion piece by Senator Joyce published in the latest edition of the Spectator Australia magazine.
Mad taxes and massive debt
A left-leaning journo from a very leafy suburb in Canberra is ringing me up to ask my views on global warming based on the recent expose of new ‘facts’ from Doha.
Facts which no doubt lead to Doha being an utter policy flop whilst leaving a massive financial liability to Australians. Support for climate change paranormal activity is not as gripping as it used to be.
Many have come to the conclusion that without a job you will not be emitting much carbon and poverty as policy is best left to the clergy.
The sad thing for Australia is that we have managed to get ourselves stitched up in an idiotic broad-base energy consumption tax which is doing nothing to the temperature.
In the last week I’ve been talking to a coil spring manufacturer in Rockhampton who currently exports to 40 countries including China. He informed me calmly that with the increase in costs due to a carbon tax he will still make money but it won’t be from exporting coil springs, it will be from importing them from India. The vision of his workmen is clearly etched in my mind as the good lady from the Fairfax masthead asks my views on global warming.
The year has been one of mad taxes, massive debt, and the demise of leftist liberal economics in the face of pragmatic East Asian hardnosed business. As Indonesia has been paying its way out of debt we are getting ourselves deeper in. As South America tries to work out how to trade beef into Asia we have been shutting down the live cattle trade. The latest sector under threat is livestock selling centres. The RSPCA and Animals Australia are now going to use their spare time telling us all that auctioneers are ringmasters in abhorrent dens of animal cruelty. They should be more ambitious and close down the whole Australian Stock Exchange, drain all the dams, ban lawn mowers and return us finally to hunters and gatherers on the forest floor eating sticks and bugs.
Should I have told the learned scribe that I have had an epiphany? Coal is an evil black rock and can only be made righteous by passing over salt water, to another country. There, it becomes righteous in a power station. Likewise iron ore’s inherent guilt is only assuaged if it moves overseas with the penitent black rocks.
I should be thankful for the left’s assistance in closing down the fishing industry, timber industry, large sections of agricultural industry, making our manufacturing industry less viable and making every tree sacred.
I should have thanked her for 30 per cent unemployment in Northern Tasmania and accompanied by a 50 per cent reduction in house prices. I should have invoked from her support the common good of enlightened people joining hands and forming a human chain around any poor, sorry bastard trying to make a dollar.
Not that I’m at all bitter about it as I remember the glee had with my demise as Shadow Finance Minister. I dared to extol the virtue of prudence and stated that if you have a static debt ceiling and an accelerating debt trajectory then sooner rather than later line A will intercept line B and you will either go back to the tax payer for an extension of credit or cheques will bounce.
I initially issued this warning when our gross debt was around $100 billion, now, three extensions of our overdraft later it is just shy of $260 billion. It is fascinating that in the last three weeks we have borrowed in excess of $3 billion a week. Annualised that is over $150 billion in extra debt per year. To earn the money to deliver the tax to pay the debt we need an extra net profit in the economy of $500 billion, at tax rates of approximately 30 per cent.
A business return of 10 per cent would mean that we have a gross income potential, which we are unaware of, of $5 trillion. That’s surprising; a threefold increase on top of the current economy, and it’s just hiding out. Maybe I should ask my learned scribe that a better piece of investigatory journalism would be to go look for it. This current climate change omphaloskepsis appears more intent at hiding our economy than finding it.
No, I’m not bitter, twisted and tormented. I think Wayne Swan is totally competent and so is Julia Gillard. I can understand why Gillard’s former boy friend Bruce Wilson’s mate Ralph would bury money in the backyard because of some aversion to banks and those nasty questions they ask you such as: ‘Where did this cash come from, Cyclone?’
Appointing Peter Slipper as Speaker of the House to meet the Queen and the President on my behalf was a master stroke of theatrical brilliance. Craig Thomson, well, he’s just misunderstood. The NBN (Next Budget Nightmare) is going to give impairment a good name. Of course you can cool the planet with a broad-base consumption tax, just like the GST did.
What if we actually did something away from the innate sensibility of leafy lefty climate change land? Imagine if we did something as dangerous to the world, Australia, the penguins and polar bears as building the inland rail between Gladstone and Melbourne to create inter-nodal port access between the southern capitals and our northern mineral province.
It is ludicrous to think that we should have a direct rail link between our second and third biggest city in our nation. Next you will want direct flights. Imagine if instead of making power dearer, we made it cheaper. Outrageous! Imagine if we expanded our agricultural industry by stopping decisions such as shutting down the live cattle trade or closing down irrigation in the Murray Darling or making it a criminal offence to cut down a tree. What if we actually tried to expand the economy through the construction of vital infrastructure such as dams? Very dangerous. We might actually grow more food to sell to South East Asia.
Imagine if we stopped borrowing money for bureaucracy and getting ourselves up to our eyeballs in debt. In the past, our children wanted to travel to Europe, but in the future, we’re going to create a little piece of Southern Europe right here in Australia just for them.