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Govt pledge to return budget to surplus is risky economics

 

There is growing support and economic evidence for the government to put the brakes on their pledge to bring the budget back to surplus on the 2012/2013 financial year.

 

Leading economic analysts are warning that this strategy will be very dangerous for our economy, especially in light of recent figures showing that spending cuts have significantly reduced growth.

 

Many economic analysts believe the Government should be looking to expand on investment, especially in infrastructure, and funded by long term government bonds.

 

As the attacks on the government policy in this area grows, read the following article for supporting views.

 

http://www.theage.com.au/business/political-promise-to-return-budget-to-surplus-very-dangerous-20121205-2avmd.html

 

 

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Paul Baggetta is the Founder & Principal of Baggetta & Co. Paul Baggetta has been a Taxation Accountant since 1981, a Financial Planner since 1998, and in 1993 qualified as a Real Estate Licensee, holding a Triennial Certificate (currently not trading) and operated his own Real Estate business for property investment clients for over 5 years as a second business.

Financial planning services are provided by Paul Baggetta as an Authorised Representative (No. 261469) of Capstone Financial Planning Pty Ltd. ABN 24 093 733 969. Australian Financial Services License No. 223135.

 

Taxation & Accounting services are provided by Paul Baggetta as a Registered Tax Agent (No.61487008) and is a Member of SMSF Association, FIPA & NTAA.