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THe Last Sentry at the Gate 1

The Truth In Australia, the Federal Government budget does not comply with International accounting standards, nor does it comply with accounting standards adopted by all State governments, businesses and companies in Australia. The budget it presents every year is a cash flow budget with its capital expenditure understated in respect of all departments and capital expenditure as a small item thrown in to mislead what is actually happening in the country. If, for example, a business buys a building it may be written down over twenty years, the useful life of the building. Only five percent of the capital expenditure is brought to operating expenses in the accounts each year. What the Australian government does is all of its departments write off one hundred percent of all the capital expenditure. Why do they do this? They do this so that whatever happens, there will always be a deficit budget. If the department adopted the normal accounting standards that apply across the nation, there would always be a larger surplus and politicians and government would have a lot of pressure from citizens on how to spend that money to make the lives of every Australian better. Australian politicians do not want any accountability or pressure for their performance. They would rather pretend there is a deficit when there is not and confine the political debate to narrow things which gives them an excuse not to deliver anything for the Australian people. The true political debate in this country is not about the true situation that exists. The centrally controlled media is either fooled or directed by editors and sub editors not to investigate this matter. So much of the debate in parliament is stage managed by both sides to mislead all Australians. How do we know this is true? How can it be that Australia, with all its so called financial problems is only one of thirteen countries in the world that has a triple-A credit rating? Is it because the ratings agencies know what is going on and they know Australia has more potential and security and could provide a better future for all its citizens if it had the right policies for enterprise and growth? The truth is, Australia’s government debt remains among one of the lowest in the world. This is reported by the OECD and the World Bank. It's available online at their websites but seems too difficult for the Australian journalists to access and would be uncomfortable for Australian politicians to reconcile with what their party tells them. Parliament is just a soap opera. Nothing that happens there addresses the real issues of how the resources of the nation are spent and what Australia might become. God Bless you and your family in the days ahead. Clive F Palmer The Last Sentry at the Gate: Clive Palmer & the 44th Parliament of Australia vii


THe Last Sentry at the Gate 1
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