It was very interesting to hear Finance Minister Tanner speak of the professionalism and competence of his Labor Finance team so I thought I would deliver him some quotes, just from today, on the well informed opinion of others as to how Labor is going in just one area, The Henry Tax Review.
DAVID KNOX, CEO, SANTOS: We need stability if we're to make these massive decisions. We need to have the confidence that the fiscal environment is going to remain stable and I can certainly tell you our partner Petronas, they will be watching this very hard.
IVOR RIES, RESEARCH DIRECTOR, EL&C BAILLIEU: It's very unnerving for the market. You know, a lot of companies out there are trying to make plans for the next five years and ten years and not knowing where the tax laws are going to be.
MARTIN LAVERTY, CEO, CATHOLIC HEALTH: At a planning level for our businesses we're looking at how we might fund $200 million across our organisation just to keep services operating as they are today.
IVOR RIES : Oh we'd all go to jail, yeah yeah. If I’d spread the sort of rumour and speculation about a listed public company, I’d certainly be investigated by ASIC and find myself in the clink somewhere.
IVOR RIES: Obviously they want to get all the bad stuff out in the open early to kind of defuse its impact when the report comes out, I understand that, that's just natural political behaviour. But I think they are ignoring all the damage it's doing to the economy.
SIMON BENNISON, CEO, ASSOC. MINING & EXPLORATION COMPANIES: Those potential investors, particularly those off-shore, will look at the whole political as well as the economic environment and they will make their decision based on certainty as well as uncertainty.
MARTIN LAVERTY: We don't want to see our employees have to face a $2000 pay cut or, alternatively, us as the employer have to fund that $2000 pay cut across our 40,000 employees. For us it would simply mean business unviability.
Well it appears that the massive debt is causing other Labor inspired problems in the economy. As Minister Tanner and his colleagues look for money to pay for their profligacy the problems for all of us are crystallising. Australia is arriving at the new Labor world of higher taxes, less services and uncontrollable debt.
Mr Tanner, instead of worrying about gross comments on bearded ladies and freak shows you should stop the unrestrained topple into gross debt and try a little more professionalism on how you deliver key economic policy.