A new report by the Public Accounts Committee lambasts the Treasury for being 'too passive' in chasing up the cash, resulting in inaccurate figures
Economy
Anthony Albanese risks being the man who did what Scott Morrison couldn’t – easing the tax burden of the rich. I have no inside info on whether Anthony Albanese will stick to his oft-repeated promise to deliver the stage 3 tax cuts intact on July 1, or change them in some way because the cost-ofliving Continue reading »
On Monday the US launched its eighth wave of airstrikes in its new war against Yemeni forces, which it has now formally titled “Operation Poseidon Archer”. The strikes are aimed at breaking a Red Sea shipping blockade which the de facto authorities in Yemen have implemented to pressure Israel and its allies into ceasing the Continue reading »
As Australia Day looms it’s not surprising that Peter Dutton has yet again found another culture war to prosecute – this time against Woolworths’ decision not to stock Australia Day themed goods. The approach worked with the Voice campaign but if this is going to be his main tactic in the year or so to Continue reading »
The science is in. The European Union’s Copernicus Climate Change Service has overnight confirmed that 2023 was the earth’s warmest year on record: 0.16°C warmer than the previous record year (2016); 0.6°C warmer than the 1991-2020 average; 1.48°C warmer than the pre-industrial period. The report from Copernicus notes that each month from June to December Continue reading »
America insists on treating China as an economic threat, but the reality is that China’s economic advancement has benefited us all. Instead, the stagnation of wages and manufacturing job losses experienced by Trump supporters in the US largely reflects the impact of technological change. For the best part of forty years, from the late 1970s Continue reading »
In a recent speech, the Federal Treasurer hastily bundled together three things that he felt superannuation funds ought to invest in: renewable energy, defence and housing. It was a classic ‘sandwich’ communication: bracket the unpleasant item between two that sound good. I agree that super funds investing in renewable energy makes good investment sense and Continue reading »
Last year was the most widely anticipated recession in history because tight monetary policy, slower government spending and higher oil prices normally spell doom. Yet total economic output (GDP) in both America and Australia kept growing in real (after inflation) terms. So, what can we expect in 2024? Will economists get it right this year Continue reading »
Private school fee rises are as intrinsic to an Australian summer as the screech of cicadas. And instead of relaxing in the holiday heat, I find myself plagued with questions about whether or how to respond to the former. Do these fee rises even matter? Should I be pleased to see that prohibitive fees in Continue reading »
Around 25 years ago, wise commentators said China may, in due course, be able to produce acceptable basic, manufactured white-goods but making motor cars that would sell globally was not conceivable. Far too many complex inputs went into making a modern family sedan compared to a refrigerator. As for landing a rover on the Moon Continue reading »