The Economic News Thread

[monotonehell]

New standing rule on SENSATIONALADELAIDE; do not bring up religion or football (Politics is okay).

[Hooligan]

Greece complaining about being part of the Euro is similar to Port Power fans complaining about the SANFL, they ignore everything they were given and focus on the bad aspects, despite them all being self inflicted.

The SANFL was built by it's it's 10 original clubs and those clubs where built by their members.

That's how the SANFL bankrolled the construction of Football Park back in the day. So seeing as Port was easily the biggest club in those days one could argue that Port was the biggest player in getting the SANFL to the place they are in today.

Also, The SANFL was happy being a state league in a little state no one cared about until Port tried to join The new elite AFL competition which forced the SANFL's hand.

So let's recap:
Port built the SANFL, which built Football Park and which created the Crows one day in a boardroom.

Port is the father all things aussie rules in this state.

[monotonehell]

What did I just say?

[claybro]

Imagine if the Feds had bailed out SA soon after the State Bank collapse - the entire country would have been better for it. By way of comparison we (via the Feds) managed to find $5b to help out QLD due to flooding a few years back (not mentioning the fact most flooded homes exist on a flood plain - sigh). Just imagine if SA was 'gifted' $5b today - it would certainly make a difference towards lifting our economic performance over the long term.

Now on this I could not agree more. Sa taxpayers via the flood levy, helping rebuild the already impressive infastructure of one of our wealthiest states. It is a real kick in the guts.

[Aidan]

Greece complaining about being part of the Euro is similar to Port Power fans complaining about the SANFL, they ignore everything they were given and focus on the bad aspects, despite them all being self inflicted.

The SANFL was built by it's it's 10 original clubs and those clubs where built by their members.

Were there really 10 original clubs? I understood Central District only joined in the 1960, as did Woodville, though I remember reading they had actually rejoined after decades...

I checked Wikipedia and there were 12 clubs to start with: South Park, Willunga, Port Adelaide, Adelaide, North Adelaide, Prince Alfred College, Gawler, Kapunda, Bankers, Woodville, South Adelaide and Victorian. By the time the SANFL was so named, it was seven.

That's how the SANFL bankrolled the construction of Football Park back in the day. So seeing as Port was easily the biggest club in those days one could argue that Port was the biggest player in getting the SANFL to the place they are in today.

And they were rewarded for it. Unlike the AFL, with a draft system that rewards failure, the SANFL rewarded success, and still does. And that's at least part of the reason why Port were so big.

Also, The SANFL was happy being a state league in a little state no one cared about until Port tried to join The new elite AFL competition which forced the SANFL's hand.

So let's recap:
Port built the SANFL, which built Football Park and which created the Crows one day in a boardroom.

Port is the father all things aussie rules in this state.

It's the most successful, but that doesn't mean it's more important than the rest.

[claybro]

Now ur just playing with fire Aidan.

[Hooligan]

Were there really 10 original clubs? I understood Central District only joined in the 1960, as did Woodville, though I remember reading they had actually rejoined after decades...

I checked Wikipedia and there were 12 clubs to start with: South Park, Willunga, Port Adelaide, Adelaide, North Adelaide, Prince Alfred College, Gawler, Kapunda, Bankers, Woodville, South Adelaide and Victorian. By the time the SANFL was so named, it was seven.

And they were rewarded for it. Unlike the AFL, with a draft system that rewards failure, the SANFL rewarded success, and still does. And that's at least part of the reason why Port were so big.

It's the most successful, but that doesn't mean it's more important than the rest.

when the SANFL formed it had several clubs come in and go in the first few years until it finally settled down with 8 clubs, Glenelg, North Adelaide, Norwood, Port Adelaide, Sturt, South Adelaide, West Adelaide and West Torrens.

Woodville and Central Districts entered the SANFL in 1964, not 1960.

Every clubs had zones to recruit from, so depending on which suburb you first lived in you would play for that club. It had nothing to do with 'rewarding success'

But by being the most successful Port was responsible for getting the most money into the SANFL's coffers and money was kind of important in making the SANFL so successful.

(P.S. If you reply to this by splitting my post up into 100 bits i'm not going to reply)

[claybro]

But by being the most successful Port was responsible for getting the most money into the SANFL's coffers and money was kind of important in making the SANFL so successful.

What a load of rot! Port Adelaide were prolific premiership winners, but then so where Norwood, and Sturt. As for income generated into the SANFL, I would say that Sturt and Norwood seperately easily generated as much revenue for the SANFL as did Port, who despite all their success, struggled to find the money for upkeep of the sub standard Alberton Oval facilities even in the era prior to AFL. As far as member, training and spectator facilities the clubrooms of Norwood and Sturt far exceeded facilities at Aberton in the day. So please dont paint Port Adelaide as the financial saviour of the SANFL. It was a combined effort of all founding clubs.

[Hooligan]

But by being the most successful Port was responsible for getting the most money into the SANFL's coffers and money was kind of important in making the SANFL so successful.

What a load of rot! Port Adelaide were prolific premiership winners, but then so where Norwood, and Sturt. As for income generated into the SANFL, I would say that Sturt and Norwood seperately easily generated as much revenue for the SANFL as did Port, who despite all their success, struggled to find the money for upkeep of the sub standard Alberton Oval facilities even in the era prior to AFL. As far as member, training and spectator facilities the clubrooms of Norwood and Sturt far exceeded facilities at Aberton in the day. So please dont paint Port Adelaide as the financial saviour of the SANFL. It was a combined effort of all founding clubs.

So if Norwood and Sturt were so superior where are the premierships to back that statement up? The butthurt of not getting your own AFL club clouds your judgement.

Also, how is Sturt travelling these days? folded yet?

[Shahkar]

Premier Jay Weatherill fights GST reforms that would penalise state by about $1 billion annually


PREMIER Jay Weatherill used the treasurers' conference in Canberra today to try to build a consensus among states and territories to fight Western Australia's GST cash grab.

WA Premier Colin Barnett's bid to change the GST rules - which would cost SA about $1 billion a year in revenue while delivering WA a windfall - has mixed support among the states, largely varying on how much they stand to benefit or lose.

The existing system of horizontal fiscal equalisation sees GST cash pooled to ensure equity of services across the nation, regardless of whether people live in small or large states and territories.

WA wants it changed to a per capita distribution, which would see it cash in on its mining boom rather than spreading the wealth nationally.

Mr Weatherill today accused WA of hypocrisy in its effort to change the rules, noting other states such as NSW and Victoria had propped up WA financially for most of its existence.

"We strongly reasserted our position to protect the current rules of distribution, to distribute it on the basis of need so there are similar services regardless of where you live in Australia," Mr Weatherill said.

"That is at the heart of how Australia developed and is the heart of being one nation. It is also the most efficient way to run a nation.

"We tried to build a coalition with the smaller states and territories that would be adversely affected by the WA proposal - other states realise there are swings and roundabouts.

"For example, the fall in the price of coal and natural disasters in Queensland saw their circumstances change but under the existing system they were automatically protected.

"There is a degree of hypocrisy in WA's position - until recently they were a net recipient of national funds, it is only since its boom that it became contributor. It is not a principled position, it is a grab for cash."

Mr Weatherill noted under the WA argument of mining wealth returning to its region of origin, the "streets of the Pilbara should be paved with gold" and Perth should not get anything.

He also warned fellow treasurers that should the WA proposal succeed, the jump in GST revenue would allow it to cut business taxes leading to other other states losing investment.

Mr Barnett's aggressive drive to change the GST carve-up includes referring to Tasmania as a national park which doesn't deserve "the spoils of the hard work in other states" and hinting WA would secede unless it gets more cash.

The treasurers' conference - the first for Mr Weatherill since he took the Treasurer's portfolio in January - also was given a briefing on the world economy, which concluded the outlook the Australian economy was the most positive for the past five years.

This included upbeat data on retail sales which in turn is positive for the GST revenue outlook for SA.

Treasurers also discussed ways to support nation-building infrastructure needed by small to medium mining ventures, such as iron ore prospects on the West Coast.

The conference heard that while "monster" mines can fund their own needs such as roads, rail links and ports, smaller projects need government support to help with infrastructure while they are in their early stages.

The treasurers discussed ways the Commonwealth and states can underwrite the risks and looked at models such as the Public Private Partnership (PPP) used to fund the new Royal Adelaide Hospital.

They agreed to seek further information and listed the issue for more discussion at the next meeting, while SA accepted an invitation from WA Treasurer Troy Buswell for a delegation to inspect new infrastructure at the port of Esperance used by small enterprises.

Mr Weatherill noted some mining companies face the "chicken and egg" syndrome with infrastructure - they need facilities such as ports to make a success of their prospects, but can't get investment funding for the infrastructure until the mines are operating successfully.

The conference also discussed progress on the National Disability Insurance Scheme and endorsed South Australian adjustments to the First Home Owners Grant.

"While Abbott has already begun planning with Western Australia's Premier Colin Barnett on potential changes to GST distribution. Mr Barnett said he had also talked with Mr Abbott about potential federal funding for state election promises, including a new rail line to the airport and a light rail project to Perth's northern suburbs." From PerthNow

[Will]

"the spoils of the hard work in other states"

Where is the wank emoticon?

This is like saying you worked hard to get the 6 numbers for x-lotto.

[claybro]

"While Abbott has already begun planning with Western Australia's Premier Colin Barnett on potential changes to GST distribution. Mr Barnett said he had also talked with Mr Abbott about potential federal funding for state election promises, including a new rail line to the airport and a light rail project to Perth's northern suburbs." From PerthNow

So while our premier was in Canberra just begging for more money, the WA premier got busy presenting the possible next PM with a list of planned upgrades to Perth infastructure. I wonder what infastructure plans our premier presented for funding?

[Waewick]

The WA position is an utter joke.

If they what more GST funding then the the rest of the Country should be requesting they have different interest rates and $AUD rates applied.

[Maximus]

So while our premier was in Canberra just begging for more money, the WA premier got busy presenting the possible next PM with a list of planned upgrades to Perth infastructure. I wonder what infastructure plans our premier presented for funding?

This from a few weeks ago:

Tony Abbott, Kevin Rudd both visit Adelaide on same day
Tory Shepherd, Michael McGuire
adelaidenow
March 07, 201312:00AM

<snip>

He [Tony Abbott] also said "watch this space" on infrastructure for SA.

After a meeting with state Liberal Leader Steven Marshall yesterday morning, Mr Abbott said substantial federal funding was on the table for a road project, with more details to come "between now and polling day".

"I'm conscious of the fact that the current government did commit $500 million (to road funding) - that money has been frittered away ... What I want is to contribute the Commonwealth's assistance to a long-term solution rather than a series of Band-Aids," he said.

"The suggestion ... that we look at the north-south corridor ... is a very, very good one."

full article

Also, yes, the WA position on GST is ridiculous. And good on Weatherill for calling them on it.

[Shahkar]

Why not on public transport in SA as well?! Why just roads!