Discover and read the best of Twitter Threads about #Budget2022

Most recents (24)

🧵 1/7
@RishiSunak the NHS doesn’t need more money … it needs to better manage/better spend the money it has.

@DHSCgovuk planned spend for 2021/22 on England = £190.3bn - majority (£136bn) passed to NHS England & NHS Improvement for spending on health services… 💰
How is that not enough for England’s 56m population? 🤯

c.40% of this is spent on treating preventable conditions! Yet the NHS fails to execute a strategy that truly prioritises prevention… 🤦🏽‍♂️
Take CVD as an example: economic analysis suggests that if all detected individuals were managed according to NICE guidelines, the total saving would be £61bn & 5.2m CVD cases prevented!

The amount of waste in public services is criminal… 🗑
Read 8 tweets
As someone who has managed 5 prisons the main thing I learnt during my career is that prisons don't reduce crime, they don't rehabilitate & they don't make the community safer.

The solutions need to be community-designed and driven, with govt support.

Australia cannot afford the social, health and economic costs of over-imprisonment. Strong, healthy & connected communities are the most effective way to prevent crime & make communities safer.
Research has found a large portion of prisoners come from and return to a small number of inadequately resourced neighbourhoods and communities.
Read 9 tweets
Last election, Australians emphatically voted for change. But #Budget2022 – the first budget from the Albanese Government – gives us more of the same old shit that fails to address the issues that matter the most. Here’s a bit of a breakdown: (🧵)
TAX CUTS ✂️ Labor had a choice: deliver tax cuts for the rich or immediate cost of living relief for the rest of us. They know wages will go backwards and flatline, and unemployment, rent and bills will all rise, and they still gave billionaires and politicians a $9k/yr tax cut.
HOUSING 🏠 One million homes? Hardly. Labor’s big new budget announcement only funds 10,000 new homes, with the mere *hope* that private developers will essentially build the rest 🙄
Read 11 tweets
Families with young children are among the big winners from tonight’s budget 🧵 #Budget2022
Progress toward better outcomes for Australian children and families has begun with the budget delivering an increase to the child care subsidy and a phased increase in paid parental leave, providing six months per couple and assessing combined incomes to test eligibility.
The early childhood education and care reforms in the budget will fuel better child development, improve the wellbeing of families, boost workforce participation and the economy.
Read 6 tweets
The unwinding of @budget2020 continues. The situation demands the whole package to go, not just bits here & there. The creeping U-turn just encourages MPs & others to demand more. And it is unlikely that the markets will respond well to the uncertainty created by slow change.
Will the reversal of the Corporation Tax reduction effect growth? This question is difficult to answer because it involves comparing anticipation in 3 periods, before @budget2022, up until now, & after the reversion.
However, what stands out is the volatility of policymaking, which damages govt credibility & is likely to lower expectations for investment and lower economic growth.
Read 7 tweets
The crisis is upon us. The PM & Chancellor have provoked the interlinked financial markets & the bear has woken, angry & hungry. What should the PM, with power, do? Remove the dart that wounds the beast. Calm & if necessary subdue it. Convene wise & experienced councils.
Combat climate change. But now, today: 1. Replace Kwarteng by Sunak, & cancel #budget2022. It has been an unmitigated disaster, politically & economically. 2. Reappoint a previous respected mandarin to head @hmtreasury to reassure the public & the markets.
3. Convene an open public meeting of the PM, the Chancellor, the Governor @bankofengland , the head of the @OBR_UK & the head of the @TheFCA to further reassure the markets. The turmoil must be stopped urgently before bankruptcies overtake policy. The markets take no prisoners.
Read 13 tweets
[Media Release] Australia is subsidising fossil fuels to the tune of $11.6b a year. Here’s what we could buy for that instead.

#AusPol #budget2022…
How about:

🏠 Free rooftop solar for 1.5 million low-income households.
🌊 15 massive pumped hydro facilities.
🚘 One EV charging station per 12km of road in Australia (72,500 of them).
🚌 Replacing every public bus in Brisbane, Sydney and Melbourne with electric buses.
Read 3 tweets
Conference ends. Truss at a twisted podium paints #TheGrowthPlan in more, unconvincing detail. @Conservatives turned into a pale, English version of MAGA neocon extremism. First they were infiltrated by the Brexit Party, now they’ve been taken over by UK followers of a US elite.
It’s as if the UK economy were a plaything for a right-wing experiment, enacting tax cuts and deregulation, attacking the woke, politics as entertainment. They don’t need any data or economic expertise. They know it all. Disrupt and hope for the best. #PostTruthEconomics
The UK establishment has been systematically undermined and damaged by these neocons grabbing the levers of power. Whitehall mandarins sacked, mocked, or broken. Lickspittles promoted as negotiators. The unwritten constitution tested and twisted to malign ends. Brexit. Clowning.
Read 7 tweets
Unbelievable cod economics being spouted by Truss and Minister Paul Scully. This is boned-up #PostTruthEconomics. Scrap economic orthodoxy, he is saying, and disrupt (what? the economy? society? the woke, whoever they are?) Ah, it’s the EU regulations to be scrapped. 😡
Minister Scully is giving the justification for #TheGrowthPlan on @BBCRadio4 World at One. Mainly spin, clearly a qualification for the job. He’s good, smooth, well-spoken as mum would say. “A different strand of Conservatism” he says. 😂Neoconservatism, I say. Smooth as treacle.
So what are the economics of the half-baked plan enacted in #budget2022 & explained by sloganeering Truss & smooth Scully? Radical policies are necessary to respond to 1) events, eg energy price inflation & 2) the fact that the economic orthodoxy has failed. So far I agree 100%.
Read 8 tweets
#PostTruthEconomics aka Trussonomics or Trumponomics is the economics being followed by #PostTruth governments that ignore economic expertise and formal forecasting & scenario analyses in favour of evidence-free policies based on ideology or populism - a thread
In the UK, the #budget2022 is a prime example: no @OBR_UK costings with scenarios based on alternative assumptions; policy changes based on wishes & hopes, rather than evidence; facile & ad hoc justifications (trickle-down economics); bluster & mis-speaking arrogance; and lies.
One feature of #PostTruthEconomics is the co-option of non-mainstream, outlier, ideological, or dead economists to provide confident justification, at least of aspects of the policies, e.g. for #budget2022 Prof Patrick Minford @JamesVa72538332
Read 60 tweets
Great presentation by @IBPKenya to CSOs and citizens on how to analyze the Program Based Budget. KGBN members are attending and keen to contribute towards making budgets gender responsive. #budget2022 #Genderbudgeting
Read 4 tweets
#Budget2022. A missed opportunity to reduce child poverty. The major investment in healthcare services needed to go hand in hand with efforts to reduce poverty.

Poverty is a major determinant of child health. Investing in one without the other is ambulance at the bottom stuff
Child health is exquisitely sensitive to child poverty. We can’t achieve child health and well-being without tackling child poverty. /2
In terms of #Budget2022, if the government’s figures are taken at face value, one in ten children are in material hardship, and one in seven are in income poverty. Poverty rates for Māori and Pacific children are much higher, as well as for disabled children. /3
Read 9 tweets
🧵1. There is no #coalition as the NDP MPs are not in the Liberal cabinet., instead there is a supply and confidence agreement to provide stability and an environment to get important work done #supplyandconfidenceagreement
2. During a time when transitions from a pandemic financing to normalcy must take place Canadians will benefit from what the supply and confidence agreement provides. Federal #COVID19supports expired on May 7th.…
3. Finance Minister Chrystia Freeland says Canada's surging job growth and record-low unemployment rate is evidence that ongoing pandemic support will not be needed. Those applying for workers' benefits have 60 days to submit their claims, while businesses have 180 days.
Read 39 tweets
The recovery of unmarked burial sites at former residential schools is a reminder of the shameful legacy of residential schools and colonialism. A grey and navy graphic wit...
We must ensure continued support to communities as they respond to and heal from intergenerational trauma and the ongoing impacts of residential schools. The #GC is committed to undertaking this work in partnership with Indigenous peoples and communities.
To support the appointment of a Special Interlocutor who will work collaboratively with Indigenous peoples and make recommendations for changes to strengthen federal laws and practices to protect & preserve unmarked burial sites, #Budget2022 proposes $10.4 million over two years.
Read 5 tweets
I find it interesting that for someone who has worked on a few budgets, in fiscal policy at Finance Canada, and an economist, I got one media spot for #Budget2022. Just goes to show that Black women aren't called to talk about important matters like money in #cdnmedia or #cdnpoli
If #cdnmedia really wants to diversify then they need to rethink what "experts" look like. And #cdnmedia has determined that people who can speak on issues of finance and economics aren't Black women like myself. There is no representation there #Budget2022
I've even done budget lockup 2 or 3 times. Did @CBCNews @CTVNews or @globalnews reach out?
Apparently Black women can only talk about Black things and not about "serious" topics. That is the media bias some of us talk about and it's discriminatory
Read 6 tweets
The focus on the costs of @cafreeland #Budget2022 copyright term extension has rightly focused on the lost generation of Canadian authors. As noted yesterday, no public domain for McLuhan, Laurence, Roy, etc. for an additional 20 years. 1/4
But the historical impact can’t be underestimated. Canadians will lose public domain access to the works and papers of some of Canada’s most notable leaders and figures of modern times: two former Prime Ministers in Diefenbaker and St. Laurent… 2/4
…Provincial leaders including Lévesque, Lesage, Robarts, Hatfield, Smallwood. Former Supreme Court Chief Justice Bora Laskin and a myriad of others who helped build a country. No public domain access for 20 extra years. 3/4
Read 4 tweets
Copyright term extension may have been buried in an annex in #Budget2022, but @cafreeland has been grappling with the issue since her election in 2015 from the TPP to USMCA to recent trade battles over electric vehicles. A thread… 1/7
In 2015, the Liberal government inherited the Trans Pacific Partnership, which included term extension. @cafreeland was International Trade Minister. Canada consulted and delayed deciding whether to move ahead with the agreement. 2/7…
In 2017, Donald Trump pulled the U.S. out of the TPP, which opened the door for Canada to suspend some provisions. At the top of the list? Copyright term extension, which was quickly out as a requirement to ratify the newly named CPTPP. 3/7…
Read 7 tweets
Hard to think of a worse week in Canadian digital policy. First, Bill C-11 continues to chug along with the government relying on cartoons to misleadingly claim that the bill won’t touch user generated content (it clearly does). 1/6
Meanwhile, the Chair of the CRTC implausibly claims independence while actively supporting Bill C-11, legislation that would govern the Commission. The lack of public trust in the CRTC is well-earned with the Chair still facing charges of bias. 2/6
The government follows up with Bill C-18, which features massive government intervention into the market alongside mandated payments for links and “facilitating access” to news. CRTC to decide who qualifies and if licensing deals are ok. 3/6
Read 6 tweets
Canadian governments have long resisted copyright term extension for obvious reasons: real costs and few benefits. Canada caved in the USMCA and now @cafreeland buried implementation in #Budget2022. What can be done about this “tax on consumers”? 1/5… Image
The opposition to term extension is universal outside a handful of lobby groups. Australia, NZ have studied the costs and @pauljheald has conducted research that found it reduces publication and access. #Budget2022 2/5…
Australian professor @rgibli studied the Canadian market on e-books and found a positive effect of public domain: more availability and a significant impact on consumer cost. With millions at stake this is a tax on consumers. #Budget2022 3/5…
Read 5 tweets
"Nobody gets left behind."

The. Liberals. Left. Disability. Funding. Out. Of. The. Entire. Budget.

#CanadianDisabilityBenefit #DisabilityTwitter #Budget2022
I've said this a thousand times but I need to state it again after #Budget2022 was officially revealed.

The lack of the #CanadianDisabilityBenefit being on the budget not only breaks promises (Liberals promised to make the CDB, NDP promised to lift disabled folks from poverty) –
It shows that the coercive amendments to MAID in which the Liberals led the rushing through of are meant to be there. It shows that the government is willfully offering disabled people only two choices: forced poverty, or death.

It shows 🇨🇦 is attempting to thrive with eugenics.
Read 4 tweets
"Housing that is affordable for everyone" eh?

I'm Chrystia's constituent (Uni-Rosedale)

My income on ODSP is $1169 per month for *all costs*

The shelter portion is only *$497*

Can you help find me affordable housing for $497 per month?

#CanadianDisabilityBenefit #Budget2022
The #CanadianDisabilityBenefit was not in #Budget2022,

It was in the campaigns, the throne speech, the mandate letter – but not the budget.

Perpetual studies still to come stalling the creation of the benefit, that's where Canada is at.
Provinces have already dropped their responsibilities re: disability supports admittedly waiting on the CDB which the Liberals made a big deal out of.

Disabled folks in legislated poverty now have no chance to be lifted from poverty for the next year. Provincially or Federally.
Read 4 tweets
You’re going to hear a lot of things about #Budget2022, but here’s the bottom line: It’s a plan to grow our economy and make your life more affordable. It’s a plan that invests in people, in a strong economy, and in a clean future. Let me break that down:
We’re going to invest in housing. Over the next ten years, we’ll double the number of new homes built across the country. We’ll invest in rental housing, we’ll make the market fairer for Canadians, and we’ll help young people save for their first home. #Budget2022
We’re also going to invest in workers. We’ll make it easier for skilled immigrants to do the jobs they’re trained for, we’ll make it more affordable for skilled trades workers to move to where their jobs are, and we’ll invest in the skills that Canadian workers need. #Budget2022
Read 7 tweets
Voici ce que vous devez retenir au sujet du #Budget2022 : c’est un plan pour faire croître notre économie et rendre votre vie plus abordable. Dans le cadre de ce plan, on va investir dans les gens, dans une économie forte et dans un avenir propre. Je vous explique :
On va investir dans le logement. Dans les 10 prochaines années, on va doubler le nombre de logements construits au pays. On va investir dans les logements locatifs, rendre le marché plus équitable et aider les jeunes à économiser pour acheter leur première habitation. #Budget2022
On va aussi investir dans les travailleurs pour aider les immigrants qualifiés à occuper des emplois dans leur domaine et permettre aux travailleurs de métiers spécialisés de déménager près de leur lieu d’emploi. On va investir dans les compétences prisées au Canada. #Budget2022
Read 7 tweets
GDP growth forecast at 6%, the Finance Minister says, citing agriculture as one of the key drivers.

Curious. We’re smack in the middle of a nasty drought, so what underpins that expectation of agriculture being a key growth driver?

#Budget2022KE #BudgetKE #Budget2022
5.1 million jobs, cumulatively, created in formal & informal sectors, Finance CS says, since 2013.

What he’s not saying: bulk of those jobs have been created in the informal sector, where job security is scarce, earnings are often lower.

#Budget2022KE #BudgetKE #Budget2022
The 'jobs created' line here from the Finance CS is not really the flex the Executive reckons it is. Also, the pace of job creation in the formal sector has been in decline.

#Budget2022KE #BudgetKE #Budget2022
Read 40 tweets

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