A promise delayed is a promise denied
In spite of the Treasurer’s boast of an economy “that has earned us a AAA-rating from all three major ratings agencies for the very first time in our history”, with a GDP of 1.5 trillion dollars, low unemployment (4.9%), low inflation (1.6%) and low interest rates (3.75%), the 2012 budget has failed to find an additional, promised, increase of 0.03 per cent (from 0.35 to 0.38) for Australia’s overseas aid and development program.
The government’s decision to delay the increase to 2016-17 means $447.2 million has been lost for aid in 2012-13, a $2.9 billion loss projected over four years. Compare this to the UK government which will continue to honour its commitment to increase foreign aid to 0.7 per cent by 2015, despite the country being in a double-dip recession.
According to World Vision CEO Rev Tim Costello “The delay of 2015 commitment could cost the lives of an extra 250,000 people, and have a huge impact on many more”.
Furthermore, Australia’s delay in honouring our commitment to aid means:
- A promise kept = aid increases by $750 million in 2012-13
- A promise denied = aid increases by $315 million in 2012-13.
- A promise kept = aid would increase to 0.38% of Gross National Income in 2012-13 and 0.5% GNI in 2015-16
- A promise denied = aid stays flat at 0.35% GNI in 2012-13 and reaches 0.5% GNI only in 2016-17, if we’re optimistic.
Australia is one of the wealthiest countries in the world living in the wealthiest point in world history and in the middle of a mining boom. Australia can afford to respond to those in need both within and beyond our borders, especially if it is so keen to pursue a greater international role through gaining a seat on the UN Security Council.
Between the Lines Newsletter
The biggest stories and the best analysis from the team at the Australia Institute, delivered to your inbox every fortnight.
You might also like
Stage 3 Better – Revenue Summit 2023
Presented to the Australia Institute’s Revenue Summit 2023, Greg Jericho’s address, “Stage 3 Better” outlines an exciting opportunity for the government to gain electoral ground and deliver better, fairer tax cuts for more Australians.
Rex Patrick’s FOI Case Part of Broader Case for Urgent FOI Reform
Rex Patrick’s appeal regarding unreasonable delays in his freedom of information (FOI) reviews draws attention to Australia’s broken FOI system and the urgent need for reform and more resources, warns the Australia Institute’s Democracy & Accountability Program.
3 in 5 Aussies back adapting policy over election promises
Research from the Australia Institute shows that a majority of Australians support governments changing economic policy to suit the current circumstances, even if that means breaking an election promise.