We are in the period of the “Duck & Dive Build Up” in Launceston. Its been happening every year recently as we get ready for the Launceston AGM, the meeting that city’s GM doesn't think is worth having. Of course as soon as this sham of a meeting is over the silly season is upon us and the good aldermen and the officers can settle back in their chairs and think of nothing in much more comfort than before.
In fiscal terms, the GM has an extraordinary capacity to speak a form of hybrid forked tongue and fiscal gobbledygook. Do not be surprised if he wins a literary award for his efforts anytime soon.
If we do not understand what is incomprehensible, its our fault. Why so? Because we are part of that 50% of Tasmanians who are functionally illiterate and innumerate and it is imagined from the get go that the troops will not get this and glaze over. Our lack of understanding is our fault. But are the good burgers of Launceston getting the GM to explain to them just what it is he is saying or has he got them too scared to demand an explanation.
Then there is Launceston’s Defined Benefits Superannuation Scheme that the GM claims is fully funded. Its liability is apparently approaching $10 million and for sure each and every Launcestonian is underwriting this probably quite generous scheme for the top shelf employees while its liability grows and grows. Great to be on the receiving end and not so good to be in the insurance underwriting business and living on the bread line in the municipality of Launceston. |
Amongst the city’s good burgers there are at least two accountants who should be able to unravel all this nonsense. Maybe they are too embarrassed to admit to being confused by the fiscal nonsense going on at Town Hall.
Watch out in the next weeks we are going to get more frequent doses of this kind nonsense designed to give the press a glib headline or two and stories that will get almost no serious attention because, well there are other and better things to do. But is there?
Watch out in the next weeks we are going to get more frequent doses of this kind nonsense designed to give the press a glib headline or two and stories that will get almost no serious attention because, well there are other and better things to do. But is there?
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From the Examiner today here is the latest example of fiscal gobbledygook: "The objective isn't to use ratepayer funds to subsidise the gym operation, it is to provide dry facilities to gain greater revenue and reduce the $1.6 million deficit on that facility. You could argue it is subsidised competition if it's running at a loss but even then you have to look at the true cost of running the centre." click here to go to read the latest exemplar of the GM’s Full Fiscal Monty
This story of a little while ago is a doosey and worth many more stars than it has been awarded so far. AND to be sure read this below, it’ll most likely ring your bells if you try to make sense of it through the smoke and mirrors. It’ll be enough to have you looking for real estate in Greece or Iceland.
Martin Caldwel
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