The budget:have your say

If you think you could help Wayne Swan with next year’s Federal budget, now is the time to speak up.

Australia’s builders already have – and they are suggesting a change of direction for the government.

The Treasurer is inviting submissions.

In a  statement just released, Mr Swan said:”… I invite Australian families, individuals, businesses and community groups to submit their ideas and priorities for the 2012-13 Budget.”

The Prime Minister, Julia Gillard, signalled – just before she went on leave at the weekend – that the government will be looking to monetary, rather than fiscal policy, to boost the Australian economy, if Europe’s troubles make that necessary.

Decoded, that means more rate cuts, not extra spending.

Australia’s builders, though, believe that wont be good enough.

“There is an immediate requirement for direct short term stimulus to new home building, Harley Dale said.

Mr Dale, who is  Chief Economist at the Housing Industry Association, said rate cuts, alone, would not be enough.

Mr Swan, who is also acting Prime Minister, at present, won’t be pleased to hear that.

He is adamant that the  spending phase, which followed the global economic crisis, has now passed.

Indeed, the Treasurer has already signalled that there will have to be substantial spending cuts, in next year’s budget, to get it back into surplus.

Meanwhile, he says, Australia is doing relatively well.

“While Europe is dealing with a sovereign debt crisis, the Australian economy continues to outperform the developed world with solid growth prospects, strong public finances, low unemployment, and a record pipeline of resources investment,” Mr Swan said.

“The budget is on track to return to surplus in 2012-13 despite the significant global headwinds that have reduced government revenues by around $140 billion over five years,” he added.

He pledged that the Government would ”continue its disciplined approach to spending,”

However Mr Swan said it would  also be “providing the necessary social protections for the most vulnerable in our community and ensuring our nation is prepared for long-term challenges such as the transition to a clean energy future and the ageing of the population.”

“Community views are a vital part of the development of Government policies and the budget process,” Mr Swan said.

The deadline for your submissions is Friday, January 27 next year.

Submissions should be posted to the Budget Policy Division Department,  the Treasury Langton Crescent PARKES ACT 2600

Or emailed to: prebudgetsubs@treasury.gov.au