The Unshackled Waves Ep. 111 MYEFO, Cabinet Reshuffle, Flinders Street Attack and Trump Tax Cuts

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For our final review show before Christmas we discuss all the major news stories with Senior Editor of The Unshackled Damien Ferri.

The Federal Government released the Mid-Year Economic and Fiscal Outlook Deficit (MYEFO) this week which had some good news about the state of the budget. The deficit for this fiscal year has been reduced by $5.6 billion however is still projected to be $23 billion and a surplus will not be achieved until 2020-21. $2.1 billion worth of savings will come from higher education with a freeze in funding to universities and a lower repayment threshold and a lifetime cap on student borrowing. Migrants will also have to wait an extra year for welfare. These are smart and fair savings as the value of a university degree has decreased and the Marxist ideas that are taught at universities are contributing to the toxic trends we are seeing in this country.

Malcolm Turnbull announced a Cabinet reshuffle, it will see Attorney-General George Brandis leave parliament and become Australia’s High Commissioner to London. His replacement Christian Porter has said that he ideally would like to get rid of the Human Rights Commission so he is off to a good start. The biggest shakeup though was to the Nationals frontbench with Darren Chester dumped from Cabinet and David Littleproud who has only been in parliament 18 months promoted to Agricultural Minister straight from the backbench. It has revealed internal rifts in National Party brought about by the Deputy Leadership ballot as Chester did the numbers for the successful candidate Bridget McKenzie over Barnaby Joyce’s choice Matt Canavan so his dumping was viewed as payback.

There was yet another car attack in Melbourne’s CBD, it is the third one this year. This one was at a busy intersection at Flinders and Elizabeth Street where a 32-year-old Afghan refugee drove his car into the crowd of pedestrians, 19 are in hospital and 4 are in a critical condition. We were told the suspect had a history mental health and drugs use however police did confirm he muttered about the persecution of Muslims in Australia. At the very least this latest tragedy represents a failure of both our immigration policy and policing given that he was vetted by our immigration authorities and was known to police as he had been convicted of assault in 2010.

Donald Trump had his first major legislative victory with major personal and company tax cuts passing Congress. It sees taxes reduced in all tax brackets along with the lowering of the corporate tax rate from 35% to 21%. Major companies have passed on the cuts to workers in the form of bonuses and wage increases. Trump has also overseen cuts in regulation and economic growth under Trump increased which along with these tax cuts puts the US economy in a very competitive position which Trump has not got a lot of credit for.

Tim Wilms

Tim Wilms is Editor-in-Chief of The Unshackled and host of The Unshackled Waves podcast. He is based in Melbourne, Victoria where he also does field reports.