I BELIEVE the independence of the Reserve Bank of Australia (RBA) board has to be questioned. If it is so important to raise interest rates, then why did the RBA governor state that nothing would be done until after the 2022 federal election? Would not an earlier intervention have been a better strategy for the economy?
With an inevitable recession looming, why are the rates still being increased? If inflation is a bad thing, then why do we tolerate a hidden tax that increases costs by 10 per cent? For the benefit of generation Z, it is known as the GST. This tax hits the poorest, including working poor, hardest in society. Just who are these rising interest rates assisting when an ultimate recession will transfer assets, such as homes, into the hands of the already super wealthy?
Now we hear complaints about potential changes to what are hardly superannuation accounts but tax shelters, not retirement pensions. While on reform of the tax system, the government would do well to begin a narrative on the world tax for Australian residents that is applied differently (not at all for some) depending on who you are. In addition, the enigmatic family trust is a sacred cow that should be questioned.
Marvyn Smith, Heddon Greta
A history of Supercars and stats
THE total justification for traders' Supercars hardship ('All quiet on eastern front for traders', Newcastle Herald 8/3) is that the two economic impact reports paid for by council have similar conclusions on overall benefits. This is unsurprising since neither report subtracted the costs paid by ratepayers, taxpayers, businesses and residents.
What is interesting though, is that the two reports came up with vastly different figures for the number of people in the event space during the 2017 event. Supercars official attendance record was 292,242. The Hunter Research Foundation Centre (HRFC) used Telstra data and found "77,600 people who ordinarily reside outside the event space were present in the event space area."
To account for the similarities in their respective economic impact reports, despite these vastly different numbers, the HRFC used multipliers to boost the impact result to $30.1 million. This was despite the ABS advice that multipliers should not be used for assessments of benefits for regional projects. The ABS discontinued their use after considerable debate in the user community as to their suitability for the purposes to which they were most commonly applied, that is, to produce measures of the size and impact of a particular project to support bids for industry assistance of various forms. Council's EY Economic Impact Report of 2021 reverted to using Supercars attendance figures for all three years, including the 292,242 figure from 2017. The magic of major event mathematics indeed.
Christine Everingham, Newcastle East
Make up own minds on Mardi Gras
PETER Devey (Letters 7/3) asks if "we" still need to celebrate Mardi Gras. Mr Devey, do you have no idea of the type of society that you live in? The population does not have to decide as a collective if Mardi Gras "needs" to be celebrated. As a free society we can exercise our individual thoughts on this. It is ridiculous to suggest it will be a collective decision. If you don't want to celebrate it, then don't. If anyone else wants to celebrate it, they can decide to do so.
Glen Wilson, Cardiff
Balance of power hasn't shifted yet
WITH Liddell power station closing at the end of this month and Eraring power station closing in 2025, NSW will lose 76 per cent of its reliable electricity supply. The NSW treasurer, Matt Kean, has now conceded we may have to keep them going. You can bet your electric jug that the power companies will be paid handsome subsidies to keep the lights on. Add on federal and state subsidies for renewables and additional transmission infrastructure, subsidies to energy suppliers to cover price caps, plus proposed subsidies to consumers to cover their power bills and you can see the mess we are in. I believe too much of our tax money is being spent to cover political mismanagement that could have been used on hospitals, affordable housing, etc. The only good thing about blackouts is that we will not hear from the greenie or climate scare-ologists about how cheap renewables are.
John Cooper, Charlestown
Why elections usually ignore us
MOST would know that, federally, Newcastle has never voted anything but Labor in 120 years. In state elections Labor has ruled, except for seven years, since 1968. Why, then, would any Liberal coalition, or any Labor government for that matter, spend money, and time, on electioneering in this area? Wallsend has always voted Labor even before Federation, so the same applies.
At the moment we are quite lucky to have two hard working representatives for these areas, but we have a history of removing members who don't follow the party line. If Labor wins the election, do not expect change for Newcastle and Wallsend.
John Hollingsworth, Hamilton
Rail is key to container bid
MERVYN Callister (Short takes, 6/3) properly warns about "noise and disturbance" when "two million containers a year" are shipped through the port's new container terminal when built. The need to transport all containers by rail is being ignored. Transferring Port Botany's trucking woes to Newcastle is unreasonable.
Greg Cameron, Wamboin
Rare foresight on super plan
WELL, for the first time I can recall, some politicians are asking us to think of the future, and 30 years into the future at that, to consider proposed legislation for superannuation. I am truly amazed as I have never seen proof of any politician considering so far ahead. It is almost only a Chinese trait to consider such planning. And for a policy applicable to 0.5 per cent of the population, growing to 10 per cent in 30 years' time in March 2053. Well, let's try tackling climate change first shall we?
Vic Davies, Tighes Hill
Let's not keep 'looking after' it
OOZING 235 years of white paternalism, Peter Devey states that taxpayers have to fork out billions every year to "look after ... native Australians". We "look after" our pets, belongings, gardens, infants and children. Using that term regarding government support for Indigenous Australians reeks of an in-ground racism that this country still suffers long after the policies that made Indigenous people wards of the state.
The whole point of the Voice is that Indigenous people are sick of being "looked after" by politicians who continue to think they have solutions when they clearly don't. The 1967 referendum gave the Federal government the permission of the people to make special laws for Aboriginal people. The laws they have made since then have not been effective in eradicating Indigenous disadvantage. The Australian people will be asked to give permission for the government to institute a Voice so that Indigenous Australians can have a say in policy that affects them and we can start to eradicate the cancer of paternalism that is still with us to this day.
John Arnold, Anna Bay
SHORT TAKES
THE Knights usually win the first game or two to give us some hope. I guess this season they are prepared to tell us straight.
Bill Slicer, Tighes Hill
I WRITE to express my concern for the jail periods given to convicted offenders. I believe goes without saying that six years is not the adequate punishment for the murder of a child ('Man shook baby to death', Newcastle Herald 4/3). He has taken away a life, and in my opinion the length of time he is imprisoned should reflect what he has taken from the victim.
David Howlett, Windale
THE law is indeed an ass in my opinion regarding the recent sentencing of Tre Rudolph to a minimum six years' jail for the manslaughter of 13-week-old baby Jasmine in August 2020. Jasmine's parents and grandparents were handed a lifelong sentence of sadness and anger for the leniency shown to the perpetrator. The paltry sentence is in my view not in accordance with community expectations of an acceptable incarceration for this heinous crime.
Max Johns, Warabrook
THE rental assistance scheme is about to end, which could result in many honest people being displaced leaving many elderly and needy Aussies, through no fault of their own living on the streets, in cars or shared accommodation, ACA interviewed some of these renters on their show, it brought tears to my eyes, imagine if this were your parents, your siblings, the government need to continue this scheme until the housing rental crisis is over landlords should also show some compassion and resist jacking up their rents, especially those with several rental properties in their possession. Help these people please.
Graeme Kime, Cameron Park
TYPICAL Labor. Tell lots of porkies to get elected, then deny them all. $275 off power and no change to super; we have a plan; etc etc. No wonder so many Labor governments only last one term.
Don Fraser, Belmont North
I RECKON Adz Carter takes the cake for the most repetitive letters sending the same old message in a different format. He has used every possible slant on why Newcastle's inner city should be tops of the live music scene' in Newcastle. What type of music does he envisage, how often and where does he propose this entertainment be held? Give up on it, Mr Carter; Darby Street, Hamilton's main street and Wickham are providing most people with entertainment and refreshment without neighbours crying foul because of the noise.
Pat Garnet, Wickham
GARY Blair is right. Let's quit taxing wealthy retirees and go back to attacking the unemployed, the sick and underprivileged. It's the Liberal party way, after all.
