Footnotes

CHAPTER 1 - Introduction

[1]        International Monetary Fund, World Economic Outlook, October 2008, p.xv, http://www.imf.org/external/pubs/ft/weo/2008/02/pdf/text.pdf (Accessed 7.02.09).

[2]        Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.13.

[3]        Mr Klaus Schmitt-Hebbel, Chief Economist of the Organisation for Economic Coordination and Development, 'A Long Recession: Managing the global financial crisis and economic downturn', OECD Observer, no 270-271, Dec 2008-Jan2009.

[4]        Mr Greg Evans, ACCI, Committee Hansard, 9.2.09, p.4.

[5]        Anglicare Australia, Catholic Social Services Australia, The Salvation Army and UnitingCare Australia, Submission 5, p.6.

[6]        The Hon. Wayne Swan, MP, Treasurer and the Hon Lindsay Tanner, MP, Minister for Finance and Deregulation, Mid Year Economic and Fiscal Outlook 2008-09, 2008, p.1. http://www.budget.gov.au/2008-09/content/myefo/html/index.htm (Accesed 7.02.09)

[7]        The Hon. Kevin Rudd, Prime Minister of Australia, $42 billion nation building and jobs plan, Media release, 3 February 2009, p.2.

[8]        The Hon. Wayne Swan, MP, Treasurer and the Hon Lindsay Tanner, MP, Minister for Finance and Deregulation, Updated Economic and Fiscal Outlook 2008-09, 2009, p.1. http://www.budget.gov.au/2008-09/content/uefo/html/index.htm

[9]        UEFO, p.1.

[10]      UEFO, p.12.

[11]      UEFO, p.1.

[12]      UEFO, p.9.

[13]      The Hon. Kevin Rudd, Prime Minister of Australia, $42 billion nation building and jobs plan, Media release, 3 February 2009, p.1.

[14]      The Hon. Kevin Rudd, Prime Minister of Australia, $42 billion nation building and jobs plan, Media release, 3 February 2009, p.1. http://www.pm.gov.au/media/Release/2009/media_release_0784.cfm, (Accessed 7.2.09)

[15]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.7.

[16]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.7.

[17]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.7.

[18]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.7.

[19]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.8.

[20]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.15.

[21]      See for example D. Tones, Submission 7, p.1.

[22]      UEFO, p.17.

[23]      The Australia Institute, Submission 6, p.1.

[24]      Mr G Evans, Australian Chamber of Commerce and Industry, Committee Hansard, 9.2.09, p.8.

[25]      Mr D Tune, Department of the Prime Minister and Cabinet, Committee Hansard, 6.2.09, p.26.

[26]      Mr D Tune, Department of the Prime Minister and Cabinet, Committee Hansard, 6.2.09.

[27]      Dr K Henry, The Treasury, Committee Hansard, 5.2.090, p.28.

[28]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.29.

[29]      Mr Saul Eslake, Committee Hansard, 9.2.09, p.37.

[30]      UEFO, p.11.

[31]      UEFO, p.17.

[32]      Dr D Gruen, The Treasury, Committee Hansard, 5.2.09, p.11.

[33]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, pp 18–19.

[34]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.25.

[35]      Mr D Tune, Department of the Prime Minister and Cabinet, Committee Hansard, 6.2.09, p.31.

[36]      Dr I Watt, Department of Finance and Deregulation, Committee Hansard, 5.2.09, p.12; see also Dr K Henry, The Treasury, Committee Hansard, 5.2.06, p.19.

[37]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p. 25.

[38]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.25.

[39]      Dr K Henry, The Treasury, Committee Hansard, 9.2.09, p.53.

[40]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.14.

[41]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.13.

[42]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.18.

[43]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.19.

[44]      For a discussion of multiplier effects see, Nation Building and Jobs Plan – Interim Bills Digest, Parliamentary Library, 6 February 2009, no 92, 2008-09.

[45]      Dr D Gruen, The Treasury, Committee Hansard, 5.2.09, p.11.

[46]      Dr D Gruen, The Treasury, Committee Hansard, 5.2.09, p.16.

[47]      Dr D Gruen, The Treasury, Committee Hansard, 5.2.09, p.41.

[48]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p. 24.

[49]      UEFO, p.6; see also Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.22.

[50]      Dr D Gruen, The Treasury, Committee Hansard, 5.2.09, p.16.

[51]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.22.

[52]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.23.

[53]      Mr D Tune, Department of the Prime Minister and Cabinet, Committee Hansard, 5.2.09, p.38.

[54]      Mr G Belchamber, ACTU, Committee Hansard, 9.2.09, p.15.

[55]      Mr F Quinlan, Major Church Providers of Social Services in Australia, Opening Statement,  pp2–3, Tabled 9.2.09.

[56]      Ms L Hatfield Dodds, ACOSS, Committee Hansard, 9.2.09, p.21.

CHAPTER 2 - Appropriation (Nation Building and Jobs) Bill (No. 1) 2008-2009 and Appropriation (Nation Building and Jobs) Bill (No. 2) 2008-2009

[1]        The Hon Peter Garrett, Minister for the Environment, Heritage and the Arts, House of Representatives Hansard, 4.2.09, p.9.

[2]        Department of Education, Employment and Workplace Relations, Building the education revolution, http://www.deewr.gov.au/Schooling/BuildingTheEducationRevolution/Pages/default.aspx, accessed on 6 February 2009.

[3]        The Hon Wayne Swan, Treasurer, House of Representatives Hansard, 4.2.09, p.6.

[4]        The Hon. Wayne Swan, Treasurer, House of Representatives Hansard, 4.2.09, p.7.

[5]        Updated Economic and Fiscal Outlook, February 2009, p. 69, at http://www.budget.gov.au/2008-09/content/uefo/download/Combined_UEFO.pdf

[6]        Updated Economic and Fiscal Outlook, February 2009, p. 70, at http://www.budget.gov.au/2008-09/content/uefo/download/Combined_UEFO.pdf

[7]        Adjunct Professor A Pears, Committee Hansard, 9.2.09, p.14

[8]        Mr M Forbes, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.02.09, p.57.

[9]        Mr R Carter, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.02.09, p.54.

[10]      Mr R Carter, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.02.09, p.58.

[11]      Mr R Carter, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.02.09, p.55.

[12]      Mr R Carter, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.02.09, p.53.

[13]      Mr R Carter, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.02.09, p.53

[14]      Mrs M Wiley-Smith, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.02.09, p.58.

[15]      Australian Taxation Office, Answer to Question on Notice, 6.2.09.

[16]      Dr Ca Nicoll, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.2.09, p.42.

[17]      Dr C Nicoll, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.2.09, p.51.

[18]      Dr C Nicoll, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.2.09, p.48.

[19]      Dr C Nicoll, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.2.09, p.49.

[20]      Dr C Nicoll, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.2.09, p.49.

[21]      Dr C Nicoll, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.2.09, p.45.

[22]      Dr C Nicoll, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.2.09, p.43.

[23]      Mr G Leeper, Department of Families, Housing, Community Services and Indigenous Affairs, Committee Hansard, 6.2.09, p.4.

[24]      Dr C Nicoll, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.2.09, p.550.

[25]      Mr G Leeper, Department of Families, Housing, Community Services and Indigenous Affairs, Committee Hansard, 6.2.09, p.9.

[26]      Mr G Leeper, Department of Families, Housing, Community Services and Indigenous Affairs, Committee Hansard, 6.2.09, p.11.

[27]      Dr C Nicoll, Department of Environment, Water, Heritage and Arts, Committee Hansard, 6.2.09, p.47.

[28]      Mr G Leeper, Department of Families, Housing, Community Services and Indigenous Affairs Committee Hansard, 6.2.09, p.13.

[29]      Mr G Leeper,  Department of Families, Housing, Community Services and Indigenous Affairs Committee Hansard, 6.2.09, p.14-15.

[30]      Mr M Del Gigante, Defence Housing Australia, Committee Hansard, 6.2.09, p.19.

[31]      Department of Infrastructure, Transport, Regional Development and Local Government Committee Hansard, 6.2.09, p.64.

[32]      Department of Infrastructure, Transport, Regional Development and Local Government, answer to question on notice, 6.2.09 (answer received 9 February 2009).

[33]      Department of Infrastructure, Transport, Regional Development and Local Government Committee Hansard, 6.2.09, p.65.

[34]      Department of Infrastructure, Transport, Regional Development and Local Government, answer to question on notice, 6.2.09 (answer received 9 February 2009).

CHAPTER 3 - Household Stimulus Package Bill 2009

[1]        Scott Kompo-Harms, Les Nielson, Richard Webb and others, Nation Building and Jobs Plan Bills – Interim Bills Digest, 6 February 2009, no. 92, 2008–09 at https://www.aph.gov.au/library/pubs/bd/2008-09/09bd092.pdf, accessed 8 February 2009.

[2]        The Hon Julia Gillard, Minister for Education, Minister for Employment and Workplace Relations and Minister for Social Inclusion, House of Representatives Hansard, 4.2.09, p. 10.

[3]        Mr B Sandison, FaHCSIA, Committee Hansard, 6.2.09, p.19.

[4]        Ms R Shannon, FaHCSIA, Committee Hansard, 6.2.09, p.19.

[5]        Mr B Sandison, FaHCSIA, Committee Hansard, 6.2.09, p.24.

[6]        Mr B Sandison, FaHCSIA, Committee Hansard, 6.2.09, p.18.

[7]        Department of Education, Employment and Workplace, Relations Answer to Question on Notice, 6.2.09.

[8]        Ms R Shannon, FaHCSIA, Committee Hansard, 6.2.09, p.24.

[9]        Ms R Shannon, FaHCSIA, Committee Hansard, 6.2.09, p.17.

[10]      Ms R Shannon, FaHCSIA, Committee Hansard, 6.2.09, p.19.

CHAPTER 4 - Commonwealth Inscribed Stock Amendment Bill 2009

[1]        Explanatory Memorandum, Commonwealth Inscribed Stock Amendment Bill 2009, p.3.

[2]        Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.21.

[3]        Mr N Ray, The Treasury, Committee Hansard, 5.2.09, p.32.

[4]        The Treasury, Answer to Question on Notice, 5.2.09.

[5]        Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.21.

[6]        Mr N Ray, The Treasury, Committee Hansard, 5.2.09, p.21.

[7]        Mr D Tune, Department of the Prime Minister and Cabinet, Committee Hansard, 6.2.09, p.36.

[8]        Mr G Evans, ACCI, Committee Hansard, 9.2.09, p.9.

[9]        Dr K Henry, The Treasury, Committee Hansard, 9.2.09, p.39

[10]      Dr K Henry, The Treasury, Committee Hansard, 9.2.09, p.40.

[11]      Dr D Gruen, The Treasury, Committee Hansard, 5.2.09, p.17.

[12]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, p.9.

CHAPTER 5 - Tax Bonus for Working Australians Bill 2009 and Tax Bonus for Working Australians (Consequential Amendments) Bill 2009

[1]        The Hon Kevin Rudd, MP, Prime Minister of Australia, ' $950 One-off Cash Bonus to Support Jobs', 3 February 2009,http://www.pm.gov.au/media/release/2009/media_release_0778.cfm, accessed 6 February 2009.

[2]        Explanatory Memorandum, p. 5.

[3]        Second reading speech.

[4]        An adjusted tax liability occurs where the taxpayer’s basic income tax liability plus their Medicare levy for the year and their Medicare levy surcharge for the year (if any), less any tax offsets and franking credits for the year (if any), is greater than zero.

[5]        Australian Taxation Office website: http://www.ato.gov.au/individuals/content.asp?doc=/content/19187.htm&page=3&H3 accessed 6 February 2009.

[6]        The Australia Institute, Submission 6, p.1.

[7]        The Australia Institute, Submission 6, p.1.

[8]        ACCI, Media Release, 'Policy Levers Working to Avoid Recession', 3.2.09.

[9]        Committee Hansard, 9.2.09, p.47.

[10]      Mr O Blanchard, Interview with Mr Michael Rowland, ABC Radio, AM – IMF warns world economy is slowing, 29.1.09.

[11]      Mr G White, Faculty of Economics and Business, University of Sydney, SMH, 'Cash in hand worth more than Coalition's tax cut push', 6 February 2009.

[12]      Mr G Evans, ARA, Committee Hansard, 9.2.09, p. 10.

[13]      Dr K Henry, The Treasury, Committee Hansard, 5.2.06, p.12.

[14]      Dr K Henry, The Treasury, Committee Hansard, 9.2.06, p.53.

[15]      Dr K Henry, Treasury, Committee Hansard, 9.2.09, p.52.

[16]      Mr D Tune, Department of the Prime Minister and Cabinet, Committee Hansard, 6.2.06, p.30.

[17]      Dr K Henry, The Treasury, Committee Hansard, 5.2.06, pp19-20.

[18]      Dr K Henry, The Treasury, Committee Hansard, 5.2.09, pp8-9; see also Dr K Henry, The Treasury, Committee Hansard, 5.2.06, p.19.

[19]      Dr K Henry, The Treasury, Committee Hansard, 5.2.06, p.12; see also Dr KHenry, The Treasury, Committee Hansard, 5.2.06, p.24.

[20]      Dr D Gruen, The Treasury, Committee Hansard, 5.2.09, p.33.

[21]      Ms L Hatfield Dodds, ACOSS, Committee Hansard, 9.2.09, p.24.

[22]      Dr D Gruen, The Treasury, Committee Hansard, 5.2.09, p.43.

[23]      Mr D Tune, Department of the Prime Minister and Cabinet, Committee Hansard, 6.2.09, p.30.

[24]      Mr D Tune, Department of the Prime Minister and Cabinet, Committee Hansard, 6.2.09, p.40.

[25]      Dr D Gruen, The Treasury, Committee Hansard, 9.2.09, p.47.

[26]      Mr D Tune, Department of the Prime Minister and Cabinet, Committee Hansard, 6.2.09, p.38.

[27]      Mr Michael D'Ascenzo, Australian Tax Office, Committee Hansard, 6.2.09, p.37.

[28]      Mr F Pratt, Centrelink, Committee Hansard, 6.2.09, p.7.

[29]      Mr Michael D'Ascenzo, Australian Tax Office, Committee Hansard, 6.2.09, p.37.

[30]      Mr F Pratt, Centrelink, Committee Hansard, 6.2.09, p.8.

Coalition Senators' Dissenting Report

[1] Note the above packages have been expressly identified by the Government. Other policies have been claimed by the Government as being designed to respond to the Global Financial Crisis, for example the “New Car Plan For A Greener Future” ($6.2 billion) which add further to size of the Australia stimulus package

[2] The Aggregate of stimulus packages announced by Kevin Rudd this financial year is $74.1 billion or 6.4 per cent of GDP when calculated the same way as the Economist table. That is, it is the total amount announced even though spread over several years divided by this year’s GDP. Note also, that a larger stimulus by Australia cannot possibly increase world economic growth.

[3] See http://gsbmedia.chicagogsb.edu/GSBMediaSite/Viewer/?peid=439a24a984fa449a8833412955afac45

[4] GDP growth data is from Table 1, Australian System of National Accounts, 2007-08, ABS Cat. No. 5204.0. Unemployment data is seasonally adjusted in is taken from Table 2, Labour Force, Australia, Spreadsheets, ABS Cat. No. 6202.0.55.001.

[5] Lucas, R. and Sargent. T. (1979) “After Keynesian Macroeconomics,” Federal Reserve Bank of Minneapolis Quarterly Review, Spring. http://www.minneapolisfed.org/research/QR/QR321.pdf

[6] http://sfb649.wiwi.hu-berlin.de/papers/pdf/SFB649DP2005-039.pdf

[7] http://www.econ.berkeley.edu/~cromer/RomerDraft307.pdf

Additional Comments by Family First

[1]        Dr Henry, Senate Committee Hansard, 5 February 2009, page 22.

[2]        Information provided by the Treasurer’s Office, 9 February 2009.

Additional comments by Senator Xenophon

[1]        Dr Ken Henry, Treasury, Proof Committee Hansard, 9 February 2009, p 52.

[2]        Professor Alan Pears, Proof Committee Hansard, 9 February 2009, p 17.