Pre Federal Budget Questions
1. What would be your priorities if you were setting the Federal Budget?
The purpose of the government is to improve the quality of life for its citizens. This can happen by giving purpose, meaning, freedom, empowerment, knowledge, wisdom, culture, and hope. Practically, this looks like investing in programs that facilitate self-awareness and open-mindedness for the everyday individual. Identify opportunities to incentivise the more mature generations to impart their skills, life experience, wisdom, principles, lessons, mentoring, guidance.
2. What is the Federal Government doing well?
The incentives they are currently offering to commercial activity. There are a lot of grants the government is administering to encourage growth that people should explore. We don’t always hear about these grants though and don’t always know the process in which to apply for these. But definitely something businesses, or aspiring businesses should be taking advantage of. For example, the New Enterprise Incentive Scheme (NEIS).
Upgrading and continued investment into infrastructure is always great as it gives the perception of growth to come and therefore confidence for the economy.
The Royal Commission into banking. In any situation, greater transparency through the overturning of stones will always result in better outcomes for consumers.
3. What could it be doing better?
Better systems to closely monitor the implementation of initiatives and investment. There is a lot of inefficiency when it comes to running as big of an organisation such as the government. This inevitably means high amounts of wasted resources.
Bridging the gap between the older and younger generations, encouraging multigenerational transfer of skills, knowledge, wisdom and perspective. Mature folks have a lot of value to offer us younger folks and would no doubt want to leave a legacy. What better way than to give back to the ‘up and coming’ youngsters. Helping them become independent, empowered and responsible adults. By doing so, younger people will become more employable as they have been equipped with life’s wisdom, empathy, how to communicate effectively. The mature generation will feel they have greater meaning, joy and purpose through participation in sharing their life’s experiences. My experience regarding this can be summarised by a quote from Pope John the 23rd, and I paraphrase – “people can be likened to wine, some turn to vinegar, but the best improve with age”.
Incentivising a proactive approach as opposed to a reactive approach to health and wellness, physically and psychologically. Generally, if people proactively pioneer into greater awareness of themselves, how their mind and bodies work and how to live a healthy lifestyle, it becomes increasingly difficult to play a ‘victim card’ and avoid taking responsibility for their own lives and actions. We as humans need to feel empowered to communicate effectively and be safe to do so.
4. Anything else you’d like to add
All this starts with addressing the narrative and our culture. The government surely has strategies in which to communicate to the masses and socially engineer/incentivise this into our way of life and our greater economy locally and globally.
On Budget Night in response to Budget
I love the way that the treasurer tackles the narrative of the Winners/Losers when it comes to the government announcing the budget. “You don’t have to punish some people with higher taxes, who are already paying the majority of tax, to give others tax relief.” There is a subtle presumption with Australian media that for you to win, I must lose or vice versa.
Australian society needs to become more affluent with the banking and superannuation industries. Often people are paying fees they never consciously agreed to or don’t know about, particularly through industry super funds and default superannuation schemes. I do support the notion that sound financial advice should be accessible to every Australian and I’m yet to see this become a priority for any government.
The initiative for looking after our ageing population is fantastic. I’m interested to see how this plays out and the practicalities around this. There wasn’t a specific mention of breaching the gap between the ageing population and the younger generation, but I hope this is part of the plan. At least the ageing population is on their radar. I love the idea that you’re “never too old to start a business”. This is encouraging to hear.
Commitment to the NDIS is also fantastic. Having freedom to access the right treatment and support for each individual is empowering and a great step in the right direction.