… government greed for other people’s money is our biggest threat.
Productivity and prosperity – these are two concepts intimately linked and yet wrongly separated thanks to the over-taxing demands of Treasury.
Productivity is not about taxation.
Taxation is a reward taken by the Treasury from productivity in the private sector.
This has led some ministers to view tax revenue as the chief goal of productivity instead of a reflection of economic success – a catastrophic error that speaks to the financial illiteracy plaguing the Labor government.
The recent Budget saw Labor propose raising taxes on the few remaining productive sectors of the economy. These represent the small corners of investment occupied with people trying to make ends meet in an increasingly unfair system. The result has been … predictable. A flat, weakening investment sector and stagnating housing markets.
Panic has spread. Money has retreated. Productivity has taken a hit it could not afford.
It was only last week that the Treasurer had to be told that his new Capital Gains Taxes threatened future productivity within the business sector and the investment market.
Think about it. When doubling taxes on risky investment returns, the government misses out on the taxes it could have collected when investors transition into home ownership. Which is what most young people say they intend to do with their capital gains… Because of these new taxes, young people will purchase fewer homes. It is just one example of stifling economic growth in favour of short-term tax grabs. And this is without mentioning the reduced productivity of renters already facing price hikes as a result.
Government greed for other people’s money is the biggest threat to productivity.
This government has strongly disincentivised productive risk-takers.
Business owners are punished and over-taxed workers are conditioned to blame their employers for economic hardship. This creates unproductive economic tension.
Instead, the true culprit is the acute failure of government to contain inflation and tighten its own belt. Labor has acquired substantial debts through mismanagement, hubris, panic, and delusion. What did we see in this budget? The Treasurer is still spending money he doesn’t have on things this country doesn’t need.
Meanwhile, businesses are collapsing are record rates. The public sector is growing. Wealth generation is shrinking. This is not productive.
Australia is becoming an incoherent economic mess that rewards a culture of hand-outs – be they corporate or private – instead of offering a hand-up to those who want to succeed.
Here is the truth. We are almost at a trillion dollars in debt, chasing our tail to keep up with interest repayments worth $28 billion per annum. Dead money. The Treasury is in desperate need of productivity while having no idea – whatsoever – about how to nurture productivity in a complex Western democracy full of free people making independent choices about their economic future.
The economy requires incentive, not the punishment.
What is ‘productivity’?
Productivity is cheap, reliable, Australian-sourced energy. It is good roads connecting regional areas with city centres. High speed rail lines and Australian-controlled ports. Refineries guaranteeing fuel supply when the world is in crisis. A competitive construction industry. It is the cutting of petty and unnecessary red tape. It is cutting UN and foreign agency imposed green and blue tape. It is high-speed, reliable internet – everywhere – including along highways and in regional areas. It is the freedom to take risks and earn a reward. It is a reliable nation of stable economic rules to encourage investment.
Productivity means placing trust and respect in businesses – freeing them of unnecessary cost burdens so they can hire staff, reward the hardest workers, and voluntarily pay above minimum wage.
Labor is spending all of its time focused on the minimum wage, because the economy is dying. Low wages are becoming the standard, rather than the baseline, because businesses are giving too much of their capital to the Treasury.
A Treasury that has run out of money and wants to dip into the pockets of Australians who did nothing wrong.
Productivity is not about working harder – it is about working smarter.
The Woke-Left have taken over the economy and built an economic prison rather than a promise.
One Nation wants to free the Australian people so they can be productive – on their own terms – to build a future they want for their children and their children’s children. Also, a nation worth living in for the people alive now, who deserve to enjoy the sacrifices of their ancestors.
To the Prime Minister, I say this, you don’t make the next generation of Australians productive through saddling them with an education debt larger than a housing deposit, selling their jobs to an imported workforce, and then tempting them into home deposit schemes they can never hope to pay off while depreciating the value of their asset. These Australians will never have the financial security to invest their money or take the risk of starting a business that creates productivity. What they are doing is surviving. Not thriving.
One Nation have been presenting policies for productivity for years. Since rising in the polls, these policies have gained traction. The response? Our political opponents are seeking to tear them down. They complain that any drop in revenue is an affront to the status quo of Treasury.
When we offered income splitting to give families a fairer tax policy and the flexibility to raise their own children, we were told this would ‘hurt income tax returns’ and ‘cause women to leave the workforce’. I’m sorry? What about the savings to childcare, which are currently costing the Budget a fortune? What about the humanity of allowing one parent to stay home, if that is what they wish? What about the benefits to the child? The community benefits? The education benefits? One Nation offers economic freedom – and the economists whinge.
When One Nation offered to end bracket creep – Labor, the Coalition, and Greens united to stop us. Then the government tossed a measly $250 at working Australians in compensation. It is … disgusting. It is … dishonest.
When One Nation offered greater freedom to businesses so they can grow and hire more staff, we are told that we are denting corporate tax. One Nation does not want minimum wage to be the anchor dragging down prosperity – we want the private sector to reward merit, pay better wages, and give proper benefits to the hardest workers and brightest staff because the most skilled should rise to the top. Productive societies are merit-driven. Always.
Merit makes money. Hard work makes money. Businesses make money. Government spends money other people have made.
And it should spend that money in a way that encourages productivity – not fantasy obsessions, like a non-existent climate crisis. The green apocalypse made a lot of corporations very rich at the expense of taxpayers. You think we didn’t notice – we did.
Of course, One Nation will retain the minimum award system and seeks to elevate wages above the minimum level through productivity increases.
One Nation understands that productivity has nothing to do with forcing people to work harder. They already work hard. Instead, Australia requires bold changes in regulation to unchain the economy and release its potential.
A smaller government.
This is our message to the Treasurer. If you have to sit around mulling over productivity at a roundtable it means you don’t understand productivity. You have no clue what to do.
Just as you cannot subsidise your way to becoming an energy super-power, you cannot tax your way to productivity.
A One Nation leadership will force – force – the government to tighten its belt, stop wasting money, and cut off parasitic departments and bureaucracies. We will shrink the government to fit the constitution, saving $90 billion a year of waste and duplication, so that we can offer the Australian people lower taxes, less red tape, and more personal flexibility. One Nation wants tax money put to use to build transit lines and infrastructure required to increase productivity – not into wasteful projects that tick a Net Zero box at the UN.
We cannot keep sending billions ($31 billion a year) of dollars offshore and billions more into the hands of domestic fraudsters and criminals.
Cheap, reliable energy. Proper infrastructure. Real wealth. Lower taxes. Less bureaucracy.
That is the formula for productivity.
I will finish with this. And this will hurt. If the Treasury wants productivity, it will have to take a leaf out of the private sector. It will have to take a risk. Take a hit to its balance sheet. Make an investment. It will have to lower taxes and allow the private sector to keep more of it what it earns so that the men and women of Australia can choose what sections of the economy to grow – to pick the best parts to invest in – to cultivate what actually works, not what the government wants to work.
The Australian people have always been financially responsible and economically intelligent. They will dig the government out of this financial hole – only if the government lets them.
