Latest news with #LeviathanontheRampage
AU Financial Review
6 days ago
- Politics
- AU Financial Review
Menzies' message forgotten as Liberals create leaners, not lifters
They probably won't. But they should. Everyone attending the Albanese government's 'productivity summit' should read Leviathan on the Rampage, a report by Robert Carling from the Centre for Independent Studies that was released this week. The newspaper headline to The Australian Financial Review 's coverage of the research did more than just sum up the report's findings. It also brilliantly encapsulates what has happened to the country.
Sky News AU
6 days ago
- Business
- Sky News AU
'Bunch of drunken sailors': Sky News host Steve Price scorns Labor's 'crazy' spending as NDIS budget exceeds defence by a billion
Sky News host Steve Price has hit out at Labor's 'crazy' spending as the NDIS budget overshadows defence while more than half the nation relies on some form of government subsidy. Price said the Albanese government was rightly happy to have won the federal election, but now needed to get the country 'back on track'. A report by the Centre for Independent Studies which found more than half of Australian voters rely on government for most of their income - through wages, benefits or subsidies - was proof of the major challenges ahead, he claimed. 'We have become a nation of leaners, not leaders, and I hate to say that,' Price said. 'We have continued to swamp the country with unprecedented numbers of migrants. We have workers relying on governments for their pay packets. That grows alarmingly.' CIS economist Robert Carling warned such widespread dependence has fuelled unsustainable government spending and eroded economic resilience. In a new paper published on Wednesday, Leviathan on the Rampage, Mr Carling warned federal spending alone has reached 27.6 per cent of GDP. This was up from between 24 and 25 per cent of GDP in 2012-13 and has been fuelled by a 'program expansion in social services, defence and debt interest'. 'How can that be sustainable?' Price said. 'According to that report, spending is driven largely by a small group of programmes including - surprise surprise - the NDIS, Aged Care, Medicare and Defence. The NDIS is actually costing taxpayers more than what we spend on defence. How crazy is that? This year alone, $52 billion on the NDIS. 'Simply not sustainable.' Australia's current defence budget is $51 billion. Price said the Labor government was 'spending like a bunch of drunken sailors'. According to the federal budget 2025-26, the NDIS recorded the second highest annual growth in major payments, behind only interest. It has been projected to cost more than $64 billion by the end of the decade. Meanwhile, the federal budget has been projected to endure a decade of deficits and surge past $1 trillion of debt. The findings come just days after leaked Treasury advice revealed the Albanese government has been told to pursue 'spending reductions'. Treasury said Treasurer Jim Chalmers would need to find 'additional revenue and spending reductions' to ensure a 'sustainable budget'.
Sky News AU
22-07-2025
- Business
- Sky News AU
‘Debt-funded largesse': Majority of voters depend on government income, new research finds, as public spending hits post-war high
More than half of Australian voters rely on government for most of their income—through wages, benefits or subsidies—according to new research by the Centre for Independent Studies. CIS economist Robert Carling has warned that such widespread dependence has fuelled unsustainable government spending and eroded economic resilience. In a new paper published on Wednesday, Leviathan on the Rampage, Mr Carling warned that federal spending alone has reached 27.6 per cent of GDP. This was up from 24-25 per cent of GDP in 2012-13 and has been fuelled by a 'program expansion in social services, defence and debt interest'. More than half of Australian voters rely on government for most of their income—through wages, benefits or subsidies—according to new research by the Centre for Independent Studies. Federal government programs spiral Mr Carling's report highlighted that a small group of rapidly expanding programs drive more than 60 per cent of the growth in federal spending since 2012–13. These programs include the National Disability Insurance Scheme (NDIS), aged care, Medicare, and defence. The NDIS has exceeded the entire federal government's expenditure on defence and will cost taxpayers $52 billion in 2025, compared to $51 billion for the defence budget. According to the federal budget 2025-26, the NDIS recorded the second highest annual growth in major payments, behind only interest. It has been projected to cost more than $64 billion by the end of the decade. Meanwhile, the federal budget has been projected to endure a decade of deficits and surge past $1 trillion of debt. Robert Carling is a Senior Fellow at the Centre for Independent Studies and a former World Bank, IMF and federal and state Treasury economist. Drawing on influential economist Frederic Bastiat's warning that 'the state is that great fiction by which everyone tries to live at the expense of everyone else', Mr Carling argues Australia has crossed a tipping point. 'Without a determined reset of expectations, Australia risks sliding into a European-style welfare state — slower growth, higher taxes and a culture where 'voting for a living' replaces 'working for a living'," he said. 'The honeymoon of debt-funded largesse is over.' The CIS report warns that even if current growth in some areas slows, debt interest costs are projected to rise by 9.5 per cent annually over the next decade. Meanwhile, over $100 billion in off-budget 'investments', including energy transition funds and student loan schemes, remain hidden from headline spending figures. Leaked treasury advice calls for tax hikes The findings come just days after leaked Treasury advice revealed the Albanese government has been advised to pursue 'spending reductions'. The independent Treasury said that Treasurer Jim Chalmers would need to find 'additional revenue and spending reductions' to ensure 'sustainable budget'. Opposition Leader Sussan Ley warned on Tuesday that 'clearly there is work going on to increase taxes'. 'We know this because of leaked Treasury advice that demonstrates that there will be a plan coming forward to tax Australians more,' she said. 'Now that's a broken promise if that happens, and we will hold them to account.' Treasurer defends long-term reform plan Treasurer Jim Chalmers has defended the government's fiscal plan and said the leaked briefing was not inconsistent with the government's stated priorities. 'The (upcoming economic reform) roundtable is all about building consensus on long-term economic reform, with a focus on … budget sustainability,' he said on Friday. 'It's an outstanding group of people who we believe will make a big contribution to the future direction of economic reform. 'While we can't invite representatives from every industry or organisation, everyone has the chance to have their say in this process with online submissions still open.'
