Lateline reports tomorrow’s Newspoll has Labor’s two-party lead at 59-41, down from 63-37 a fortnight ago. Kevin Rudd’s lead as preferred prime minister is down from 73-7 to 70-10 (hat tip to Blair S. Fairman).
UPDATE: Graphic here.
Author: William Bowe
William Bowe is a Perth-based election analyst and occasional teacher of political science. His blog, The Poll Bludger, has existed in one form or another since 2004, and is one of the most heavily trafficked websites on Australian politics.
View all posts by William Bowe
There seems to be a lot of ex Liberals coming out and saying the party doesn’t deserve business support. It is either going to reform or wither on the vine. Abbot can pretend as much as he likes, reality is going to hit the Liberal treasury. No money no campaigns. And let’s be honest if you have more than two neurons to rub together would you spend money on the current rabble.
And have you noted how no one now pretends it is the liberal party. “Conservative forces”, hell I don’ want to be associated with “conservative forces” I want constructive change, give me Bolte. He bulldozed slums, introduced funding for independent schools, set up our water supple for decades and so ‘on, that not conservative thats driving constructive change.
Hell the reason why you want Labor out is because they are a bunch of stick in the muds, why present yourself as a bigger set of stick in the muds.
Idiots.
otiose. Probably don’t need this, but Wendy Harmer’s stuff on the teev was pertinent.
Greedy little NAB belts its customers again.
“National Australia Bank Ltd has broken ranks with the major banks and lifted its standard variable home loan by another nine basis points.
From Wednesday, NAB’s standard home loans will attract 9.36 per cent interest as the bank seeks to cover the increased costs it is paying for wholesale funds.
The move equates to about an extra $15 a month on an average $200,000 mortgage for NAB customers.
It is independent of any rise in the official rate by the Reserve Bank of Australia (RBA) and will spark fears NAB’s rivals may be tempted to follow suit.”
http://news.brisbanetimes.com.au/nab-breaks-rank-to-lifts-rates-again/20080325-21g4.html
Shock horror….. A capitalist business attempts to make money. Hardly worth getting upset about.
Be careful National Australia Bank, Wayne Swan is lurking with his big stick, actually what are you going to do wayne- raise your voice.
I’d like to see the banks subjected to greater regulatory measures or more competition through introducing more off shore banks into the market place. My salary goes straight to a bank account whether I like it or not and I have to pay $5 per month for the privilege of accessing my money.
I don’t have any specific regulations in mind but I do believe that banks have had it too good for too long.
Swan’s threat (have plans been put in place?) to make it easier to change from one bank to another is a good start.
Steve K,
Find a Credit Union. They are cheap, provide good customer service and you have all the access you need to your money wherever you are.
And no fees GG? If that’s the case I’d make the shift straight away. One problem though – my home loan is through a bank so I have to have an account to facilitate repayments.
Because I have a home loan my account was free of fees – until about 3 years ago that is. That’s when they changed the rules. Now the loan must be greater than K$100 for it to be free of fees. Because I only owe K$40 or so I’m up for the $5 per month account management fee.
Those bastards know how to screw you no matter what your situation.
Instead of market solutions, why not going back to regulating the market or better still slowly going back to government ownership of a bank.
Since the CBA has been privatised who has benefited, certainly not workers at the CBA and certainly not ordinary people.
Yep whilst the banks can have all their bloody fees, yep fancy having a fee on your account by just putting money in the bank.
Meanwhile the CEO’S of the banks continue to get big wages, and they continue to grow outrageously.
Ben Chifley had the right idea, nationalise them.
Although i am not so radical, and times have changed it is time the government through either post office accounts or something similar entered the market place and stopped the greed.
And doing something about the fees would be popular, but of course governments are to frightened to touch the corporate set.
Finally yep credit unions are a good solution, but their are very few and the amount of services they offer is limited. Additionally credit unions are always under the risk of being gobbled up by a bank.
Didn’t Ben Chifley lose the ’49 election trying to nationalise the banks?
@ Gary – Yes that was one fo the reasons. It was struck down as Unconstitutional by the High Court.
Steve K,
No fees (with strings. You have to have $400 in a non accessible account. But if you close the account, you get the money back). They even used to absorb some of the Government charges.
Banks are notorious for tying you up through you housing loan. All I can say is if
you are prepared to re-finance your home loan, then it is a no brainer. Seriously, I got rid of the Banks more than a decade ago and am more than happy.
We use Plenty Credit Union. With William’s indulgence I’ll post the link to their site so you can see that you lose absolutely nothing by changing over. There are plenty of others and I’m sure there will be one close to where you live.
http://www.plentycredit.com.au/
For those who claim that the opinion writers in the OO only ever support Liberal politics this might come as a welcome surprise:
AMA aim is to ensure nothing changes
http://blogs.theaustralian.news.com.au/samanthamaiden/index.php/theaustralian/comments/ama_aim_is_to_ensure_nothing_changes/
Samantha Maiden has spelled it out fairly and squarely.
[Finally yep credit unions are a good solution, but their are very few and the amount of services they offer is limited. Additionally credit unions are always under the risk of being gobbled up by a bank].
What nonsense, marky marky.
Numerous credit unions exist. And they are not under threat. Whatever gives you that idea?
My favoured spot is my Credit Union. Although I retain an ever greedier bank account. Them not me.
912
Greeensborough Growler
Thanks for taking the trouble GG. I’ll check it out.
Marky^2 asked:
“why not going back to regulating the market”
Because providing loans on the basis of the ability of the customer to pay is far superior than providing loans on the basis of who is willing to blow the bank manager – which is virtually what happened before deregulation.
Marky^2 also asks, “Since the CBA has been privatised who has benefited”
Everyone who has ever taken out a loan because competition shaved a couple of percentage points of interest off mortgage rates, more on personal loans. But who really benefited was women, particularly single women who before deregulation had about buckleys chance of getting a loan unless they personally knew the bank manager. Being a single women was considered to be a credit risk.
Likewise, young couples that weren’t married were considered credit risks, blue collar workers under the age of 40 were considered risky -basically anyone that wasnt born into money or werent male public servants with a wife with a bun in the oven and a family history of home ownership spanning a couple of generations were all considered risky to varying degrees. The further out from a capital city center you went, the worse it got.
Now what matters is not ridiculous social profiling based on 1950’s visions of Australian suburban utopia, but simple ABILITY TO PAY.
As it should be. For a rabid left Marky^2, you seem to support an awful lot of things that made peoples lives a misery based on circumstances beyond their control.
The difference between Bank and Credit Unions is that Banks are there to make a profit for their shareholders. CUs are there to provide good quality, reasonably priced banking services for their members. Most of the Banks abandoned service back in the 80s.
Possum, Marky Marky never met a new idea he did not dislike. It would take him out of his comfort zone of misery.
Did anyone watch tonight’s “Agenda”? I’m as biased as anyone but Jason Koutsakis really does come across as an apologist for the Rudd government. At last there is a journalist prepared to put the government’s point of view rather than just acting as a defacto opposition. Don’t get me wrong I actually think there is too much “barracking” from so called neutral political journalists but if it’s going to happen at least let it happen on behalf of both sides of the political divide.
I could make a long list of the conservative supporting journalists, a much shorter list of the fair and impartial journalists and a very short list of the Labor supporting journalists.
916 Possum – right on the money Possum, no pun intended.
Nope, Gary Bruce. I was occupied, feeling ill. Watching Foreign Correspondent.
American death penalty, its modus operandi, its disgusting process. Its sentencing to death people who are innocent, for even a start.
And to show how little America’s administration cares for even the life of its own, 4000 deaths, in Iraq.
Now, how many were killed in the twin towers?
[American death penalty, its modus operandi, its disgusting process. Its sentencing to death people who are innocent, for even a start.]
Yet there are certain people in the Liberal Party, egged on by Laura Norder and it’s media cheer squad, who want to re-introduce it here.
And does it deter criminals – not on your nellie.
Rescued, from the pits, by Shapiro on Obama, Philip Adams.
Uplift!
So we sold the CBA, but does that not prevent the creation of another Commonwealth owned bank?
I’m not impressed with the behaviour of the NAB and this opens the gate.
The Future Fund could have been utilised in this respect and would have realised the 5% that is projected (that’s if the 41% high risk investment has been managed wisely during this roller coaster) by the report.
I recall it will not be to August until the financial report is released.
Cannot imagine, Frank, that the crazies you mention will ever sway opinion towards the death penalty. They my wish it. They will not achieve it.
The most likely moment in our lifetime has already occurred. John Howard. If he could not pull it off here, not that I am suggesting he tried, notwithstanding his condoning in other countries, don’t see it. Ever.
CW,
John Howard had many faults but never supported capital punsihment.
That is exactly what I said, GG.
The ‘other countries’ though.
Well done Tony Jones – best line of the year thus far.
Delivered to ‘people skills who is defending the Lindsay affair. I’ll provide transcript tomorrow.
People skills reckons it was okay because it has happened before and Tony asked him that directly with a ‘you’re kidding right?’ tone of voice.
If anyone needs some footings or a pool dug, or even just a hole they’ve already got dug a whole lot deeper, just give give the mad monk a call.
it’s getting silly now – the ‘no faction’ faction has been mentioned.
Good grief.
Now he’s trying to redefine bi-partisan as an evil word. It seems to stop him from aregueing for the hell of it.
He’s pulled a Turnbull now and Tony has called him on it – he’s making crap up about journalists needing a permit to enter an aboriginal township.
(Alternatively – if that’s in the proposed legislation I’ll apologise, but it sure looks like a Turnbull fact to me).
Well that wasn’t convincing Tony, but probably still a better effort than any of your front bench mates. Sad really.
Of course Howard supported capital punishment. By not repudiating the Indonesian sentences he does, in fact support, it. Others chose to stand by their convictions and condemn cp.
Be perfectly clear about this – capital punishment has no political borders. Sanctioned state murder is murder – wherever it happens.
Quite, bryce.
CW,
Misunderstood your post. I thought you were portraying Howard as a secret supporter of capital punishment but could not get it up.
Telling our neighbours how to run their societies is always a tricky issue. A lot of representations went on for Ngyuen in Singapaore to no avail.
The Bali Bombers is obviously a difficult issue and I am sure any Government involvement to stop the coming executions would be counter productive in Australia and unlikely to be successful.
[The Bali Bombers is obviously a difficult issue and I am sure any Government involvement to stop the coming executions would be counter productive in Australia and unlikely to be successful.]
As illustrated last year by Senator Robert McClelland’s comments on the subject when he was still shadow A-G.
So the only people who benefited from CBA sale were single mothers, people who lived miles from anywhere and all us from competition.
Yep actually what occurred were longer queues, staff cuts,closed branches in country areas and increased and invented fees and not forgetting increased profits to shareholders and higher wages for CEOS’ and not forgetting the Commonwealth’s venture last year into Awa’s.
Single mothers i do not begrudge them being able to receive a loan as i was brought up by one and hence my mum for memory never had trouble receiving a loan from the Commonwealth some thirty years ago, but was extremely upset with them when they started putting fees on her accounts.
And this view about competition reducing mortgage rates, yep but look at all those fees you now have to pay on such loans, yep competition really has made a difference here.
And then their is the massive debt crisis we are caused primarily by the greed of banks and speculation, which is where much of our money is going, yep competiition has really fuelled this spendathon. Sorry these bulldust economic ideas do not wash with me.
You seem to forget what competition is about, it means competiting with one another until one sides wins, hence squeezing your competitor out of the marketplace so that eventually you end with as few or only one operator- hence a monopoly.
If we did not have this four banks policy their would only be two banks doing as they please.
Time our universities started teaching Keynes economics again instead of this stupid economic rationalist crap that you people keep drilling out. Graphs and numbers and figures but not people simply madness.
I’m looking at the NAB upping rates, now this is me just thinking aloud but is the NAB more exposed to the situation in America for this rise has come out of nowhere and did I hear correctly .9% that does seem to reveal an issue considering the NAB made a profit last year of over $4Billion.
See following MB.
http://www.abc.net.au/news/stories/2008/03/25/2198952.htm
GG at your 930, and Frank. Well? Bryce gets it, far more articulate than I.
The Bali Bombers, I was not firstly thinking of. I hope for their lives, however much they appear to desire their deaths. Though even they seem to be entertaining second thoughts.
It is such as the Bali Nine, so called, that irks me. The fact that the Feds put them in the way of the possible death sentence.
I do not excuse the actions of the Bali Nine.
But we know of the murky circumstance.
It was under our previous Government that these people were put out of the reach of Australian justice. It was, it would seem, with the certain knowledge of the AFP.
It was, when they could have been arrested, before they even left Australian territory, that they became pawns in an orchestrated AFP politically motivated activity.
Not the law. Politics.
Think, Haneef, for one. Think much earlier. Not to defend again, because that is not my point. David Hicks. Think others, in between.
Hence, Howard. Capital punishment. Herod, really.
.09% increase and it was announced after the close of trading, I suspect someone should be asking the NAB a few questions about just how exposed to sub-primal are they.
I mean they may well have a good reason to increase rates but and it is a gut thing but something seems a little strange.
Like the privatisation of the New South Wales electricity, the power companies in Victoria are screaming and encouraging it, why because currently electricity prices are capped along the east coast by the single NSW operator thus as that looney right wing group the IPA suggests competition will create greater investment and pricing opportunities. Meaning market- driven prices for investment and competition,
But overseas Britain and America are moving away from competition as prices overseas have massively increased. Competition for power will not work, it will make prices increase, supply less reliable and increase profits for the owners.
Competition is worked so well in communications, that is why the government has to give Telstra money to put in place a high speed broadband network.
Herod was the dude that ordered the death of all infants on the birth of Jesus. Pontius Pilate is the local Roman potentate who “washed his hands” of Jesus when the Jews wanted him crucified is the character you are after.
So you suggest we bomb the Indonesians, send in a crack armed assault squad or something different to save the lives of these drug smugglers. What do you think would force the Indonesians give up our citizens?
Dear me, Greeeensborough. Pontius Pilate, knew I had foolishly typed.
And for the rest, nup.
The topic was capital punishment.
CW,
Do you have a solution or is it “They orta do something”?
Yes, actually. Put before justice the politicians who lie, connive, cover up.
It is difficult, for me at least, to think of a more culpable crime than the money paid to Saddam Hussein, via the Wheat Board. With the assent of our Government.
Murdering many more people than the Bali Nine.
CW,
I have no problem with making the politicians accountable. But, how would putting politicians on trial help save the Bali Nine?
You are being obtuse, GG.
Abbott is trying to head any inquiry off at the pass.
[Mr Abbott does not condone the Lindsay leaflet drop, but says any inquiry should examine other electoral misdemeanours.
“Let’s not think that the one in Lindsay is the only one that’s ever happened,” he said.
“There have been dodgy dodges put out in sorts of electoral contests by all sorts of people, including many over the years that have benefited the Labor Party.”]
http://www.abc.net.au/news/stories/2008/03/26/2199065.htm?section=justin
Abbott was certainly side-stepping furiously when he realised Tony Jones was implying Abbott’s suspected involvement may lead to him being requested to give evidence at the inquiry.
It was fun to watch. That was one of the most nervous performances I have seen Abbott involved in.
Come on Rudd. Bring on a string of Inquiries and let us see these jokers squirm.
It was fun, Scorpio. Abbott may have realised finally, that, for one, his time is over, and secondly, that he among others may be called to account.
(Note: GG)
marky marky @ 932 – I’ve askd you this before: When, while under full government ownership, was the CBA ever ordered by its owner to limit interest rates, fees or any other activity?
I wonder if you’d be so infatuated with governments owning banks if you’d lived here when the State Bank of SA went belly up taking $3 billion of its owners taxes with it. I didn’t at the time, but the effects still reverberate even now and I doubt you’d find many South Aussis willing to risk that again.
Even some of your taxes went into the pit when Keating had to give SA $800 million to help keep the state solvent. How many of the underprivileged you’re always banging on about could that have helped?
Privatization justs moves an asset from debt funding to equity funding, there really is no big deal.
It was one of the smartest things Alan Stockdale did. Victoria had a debt that was rated very poorly, he took some of the assets out “privatized” them and the stupid rating agents then rated the debt backed by less assets as AAA.
I could never really understand why the left never appreciated capitalists being taken for a ride, the NSW labor government tries the same trick with power stations and you all go all funny.
Private or debt financed the government still has regulatory control.
Back to banking.
Can any financial whizkids out there comment on the practicality of the Government setting up a savings bank in Australia Post? It could soon be followed by home loans. Surely something like this would trim some of the greed from the banks mode of operation.
Further to the Abbott interview and the Lindsay gambol, his mates in the NSW branch are starting an opus dei street brawl in the shire. The predicted Libs self-destructive fun is starting:
http://www.smh.com.au/news/national/welcome-to-the-bosom-of-the-party/2008/03/25/1206207105031.html
I mean, that right-winger Morrison isn’t ‘conservative’ enough for them? Those Clarke/Hawke-ists are right out there in the orbit of Pluto. The article has a few more names as well to keep an eye on. Let’s hope the Opus D candidate Phelps beats Horatio’s candidate for state director. Then it will be on.
In that case, as KR says, pass the light snackfood of your choice.
Keating did what needed to be done with banking, he deregulated the market. Just take a look at the spread between the international interest rates and the Australian rates, it has narrowed.
I know it if fashionable to hang it on the banks, but there is only one thing that will bring any market under control competition, Keating created the competition.
The current problems are caused by a complete mess being made of risk management. The net result has been the drying up of some cheap sources of funding, before the dry up the spread between low risk debt and high risk debt was small and debt that was not AAA was being rated at AAA ( the reverse of the Victorian Governments experience).
The previous State banks died because of the last round of miss management. Why would any Government take the risk when the rewards are what? Cheaper money for some borrows, I doubt it.
Money is going to be more expansive for a time, get over it and arrange your affairs accordingly. Personally I have no sympathy for people who built Mac Mansions on borrowed funds.
The young are another issue, we need to do something about affordable housing, and in my view the something needs to include the option to buy.
Markets do fail society at times and that is when society needs to get involved. They should not get involved when the outcome is nothing more than the transfer of funds from one middle class group to another.