Joe Hockey

Don’t blame Chinese for house price increases, blame Labour and people like Selwyn Pellett

Our politicians, particularly the more xenophobic of them, like to blame Johnny Foreigner for the rise in house prices.

The same is happening in Australia, with all manner of things like Chinese investors being blamed. The real reason though is somewhat different.

Labour and the Greens claim that restricting foreign investment and applying capital gains taxes will lower prices…and yet the opposite is true in Australia.

Foreign investors are not to blame for rising house prices. The real culprits are the taxing and regulating activities of Australian governments that raise the supply price of new housing.

Despite this, the House of Representatives economics committee is set to inquire into the impact of foreign investment on the Australian housing market at the instigation of Treasurer Joe Hockey.

According to committee chair Kelly O’Dwyer, the inquiry will consider whether the current restrictions on foreign investment in residential real estate serve to increase supply, as is their stated intention, or raise prices.

This is rather like asking whether foreign tourists increase the production of goods and services or raise consumer prices. The answer depends on how flexibly Australian producers can accommodate changes in foreign as well as local demand through increased output.

Australians don’t like bludging car making ratbags

The latest polls in Australia deliver bad news for the unions and for Labour.

It is clear that Australians don’t like bludging car making ratbags.

”The government has started taking some big decisions, some hard decisions, that people notice,” notably to refuse public subsidies to SPC Ardmona and the car manufacturers. ”There’s just more of a consistency to what they are doing and saying and that’s coming from the Treasurer, which he pithily summarised as ‘the end of the age of entitlement’.”

A poll by Essential Media last week found that only 36 per cent of voters approved of continuing government subsidies to the car sector, with 47 per cent opposed.

So it may be that Joe Hockey is the one winning kudos for the government.  Read more »

Labour parties are the same the world over

The headline is scarily similar to what happened here in NZ.

Labour the world over booby traps the economy of their victim countries.

When Joe Hockey was growing up and dreaming of becoming prime minister, he would not have imagined that his dream would lead him to joining a bomb disposal unit. Tomorrow, he will unveil the first bomb he must dismantle and it is almost nuclear in its capacity for destruction.

At 12.30 on Tuesday, Hockey, who has also been the stand-out thespian of the new federal parliament, will unveil the real horror, dysfunction and narcissism of Kevin Rudd’s contribution to Australian political history, disably assisted by Julia Gillard. Hockey will release the mid-year economic and fiscal outlook, known in the trade as MYEFO, which will show a budget deficit much worse than Labor led us to believe, probably close to $50 billion, debt obligations much higher than Labor led us to believe, and unfunded liabilities that are so irresponsibly crushing the government will have to walk away from many of them. The most monumental folly is the National Broadband Network, whose economic rationale was worked out on a piece of paper by Rudd. The scheme subsequently created by former communications minister Stephen Conroy would cost more than $70 billion and never recover its cost of capital. The Abbott government will have to start again.  Read more »

Good onya Joe, he takes “show me the money” literally

I wonder if we could swap Bill English for Joe Hockey.

In one of his first acts as Treasurer, Mr Hockey will instruct the Australian Tax Office to send taxpayers a personalised and itemised receipt thanking them for their tax dollars and detailing where the money was spent.

The receipts will show, in dollar terms, how much of a person’s tax bill was spent on welfare, health, education and other areas.

The level of gross government debt will also be displayed prominently with a break-down per person.

Treasurer Hockey said the receipts, which will be sent at tax time starting next year, would boost transparency and hold government to account.  Read more »

The cheek of some people, especially those bloody boat people!

John Nguygen is causing some problems for the Liberals.

Firstly Joe Hockey thought he was Chinese, when he is in fact Vietnamese.

The Opposition’s treasury spokesman, Joe Hockey, has had to correct himself about the ethnic background of Liberal candidate John Nguyen.

While campaigning in Sydney today, Mr Hockey was asked about candidates from an Asian or Chinese background.

“There are a number of Chinese candidates, including in Victoria, who I was just campaigning with a few days ago in Chisholm, John Nguyen,” he said.

“So we have a number of Chinese candidates right across the country.”

Shortly afterwards, Mr Hockey spoke briefly to his media adviser and then corrected himself about the candidate, who has the common Vietnamese surname Nguyen.  Read more »

ALP caught pants down in sanctimony and hypocrisy

In the last week there has been a massive fuss about a menu for a fundraiser dinner. Julia Gillard was hot on attack over it, labelling the Liberal party and Tony Abbot as misogynists.

Well their sanctimony has backfired in a cloud of hypocrisy.

As beleaguered ALP Prime Minister Julia Gillard’s torrid, raving attack on Opposition Leader Tony Abbott for a mocking menu at a Liberal Party fundraiser from several months ago reached an appalling crescendo of vitriol and claims of misogyny, was given exclusive access to an ALP menu demeaning Abbott from an ALP Cabinet Minister’s own fundraising effort.  Read more »

Sledge of the Day

Alan Jones on Joe Hockey about his stomach stapling:

He embarrassed Hockey over his recent weight loss, due to stomach stapling surgery, and said he hoped the doctors hadn’t taken his spine out during the operation.

There were plenty more sledges of Joe Hockey, who is likely to be Australia’s next Treasurer.

It began happily enough. Jones announced Hockey as ”the next treasurer of Australia”.

Jones did annotate this introduction with “the one left with the mess”, but still, any anointment from Jones is not to be lightly dismissed.

This is the man Hockey once called “the greatest broadcaster of all time”. Furthermore, it was the day after Treasurer Wayne Swan had brought down his sixth budget, and his sixth deficit. Barring an apocalyptic science fiction-esque event that results in a giant lizard demolishing Parliament House in a single swipe of its reptilian tail, it will also be Swan’s final budget.  Read more »

Wasting the Win

Andrew Bolt looks at something that New Zealanders will be familiar with…a government that has won, and won handsomely wasting the win.

Tony Abbott’s biggest danger now is not losing the September election, but wasting the win.

The Opposition Leader has long worried his contest with Julia Gillard will get very tight. He’s a fretter.

So he’s been risk averse, making few promises to end what shadow Treasurer Joe Hockey called the “Age of Entitlement”, with an astonishing six million Australians living off benefits or state salaries.

He does not dare risk the fear campaign Labor would wage among public servants and pensioners.

Nor is he promising big changes to Labor’s controls over workplaces which are strangling productivity. He’s stuck mainly to promising a crackdown on rogue unions, fearing another union scare campaign if he went much further.  Read more »

Embracing a stabilising force

ᔥ Sydney Morning Herald

If marriage is a stablising force for families and society, then why can’t gay people have stability too?

Surely those who say they don’t support the concept of gay marriage because they think children should have a mother and a father are missing the whole point? (No names, no pack drill, but I am talking about my dear friend Joe Hockey and his otherwise strong appearance on Q&A last Monday night.) For what has the one got to do with the other? Gay families are already everywhere, and good luck to them. That has happened – ”evolved” as both Barack Obama and Magda Szubanski might have it – completely without recognition of gay marriage, and Penny Wong and her partner, with their child, are a prime example. Marriage, as we all know, is a stabilising force on society, an institution that helps keep families together, even through tough times. So why should the kids of gay parents be denied that stabilising force? Supporting gay marriage is not hurting kids, it is helping them.

It is all about procreation, right? Ctd

ᔥ Sydney Morning Herald

Joe Hockey got spanked on Q&A this week by one simple question from the audience regarding marriage equality. This shows the stupidity of holding a dogmatic and ill thought out position on issues such as this. Joe Hockey now just looks like a tool.

The exchange between Penny Wong and Joe Hockey on Q&A this week about gay parents is only about two and half minutes long.

Prompted by an audience question about why the shadow treasurer thinks he and his wife make better parents than the Finance Minister and her female partner, the segment ends with Wong quietly but firmly declaring: “I know what my family is worth”.

It may only be brief but activists are calling the exchange a ”watershed moment” in their campaign for same-sex marriage – both allowing people to understand the debate at a personal level and demonstrating its status as a mainstream political issue.

On Tuesday, Wong’s response trended on Twitter and the clip has had more than 71,000 views on YouTube (up from 53,000 this time yesterday). A company has even started selling “I know what my family is worth” t-shirts and stickers.