Brian talks banks
Let us again make Australia a Great Place to Live.
Australians used to own our Big Four Banks. Now J P Morgan, HSBC and Citigroup own 40 per cent. An unknown percentage of people from other countries are taking advantage of the highest dividends paid by any banks. Despite this our banks have to borrow from overseas to be able to pay such high dividends. There are head office boffins who feel that they can make millions and also help the banks by trading in derivatives. Instead they are creating a huge derivatives bubble which could destroy our Big Four.
In India the company found enthusiastic support and are engaging in strategic partnering arrangements. The success in India of the environmentally acceptable production of cheap electricity by using less expensive brown coal is leading to acceptance of ESI expertise in other countries who are planning to increase their wealth based on being able to produce cheap base load power.
ESI and India are using a ‘Matmor’ retort to produce iron cheaper than by using a blast furnace. This could be a world beater initiated by an Australian university but radiating out from India to the countries who are aiming to increase GDP growth greater than three per cent. India is now the world’s 4th largest by GDP with a growth rate of 7.6%. They are gearing uptake to Japan (3rd largest) with a growth rate of only 0.5%. Their aim is give China (2ndlargest) a run for their money whose growth rate has reduced to 6.9%.
India wants to use coal (including Australian coal from the Adani mine) whereas Australia wants to get the award as the squeakiest clean country using renewables even though it means paying a lot more for electricity
Australia could move back above 1.5 per cent GDP growth if Government is prepared to communicate with ordinary people who lived through the best of times in this country.
Brian Mills, Griffith.
Country Labor’s pre-budget release
The Local Land Services (LLS) is currently at a crossroads. The upcoming State budget will be a real sign on whether the organisation can survive or collapse under the combined weight of diminished resources and increased workload.
LLS has struggled to meet the substantial expectations of Government since its very inception. It has operated in an environment where job cuts and restricted resourcing has hindered any desire or ability to complete the tasks set by Government. I really feel for the employees of LLS - all good people doing their best in trying and difficult circumstances.
Yet even current and former Board members are speaking out against these cuts. Front line staff numbers have been slashed while more and more money goes on corporate services.
Given the additional responsibilities placed on LLS through the biodiversity and biosecurity reforms – a significant boost to funding is needed.
This Budget must deliver real funding - not simply be a cynical exercise in restoring funding previously cut by this government.
LLS is already starting from a weak financial position. Minister Blair inherited LLS as a junior Minister - he is now the second most senior National Party MP in NSW. This Budget is a real test for the Minister and whether he can deliver the funds needed by LLS to carry out its ever increasing role.
Mick Veitch MLC.