Reform remains a challenge when every idea to reduce the deficit, reduce government expenditure or restructure taxes tends to get shot down in Australia.
Budget repair was put off till later, and the net impact of decisions in the budget was small, but it will be easier to defend in the coming election campaign than some other recent efforts.
Treasurer Joe Hockey is experiencing difficult times. Deteriorating terms of trade and an uncooperative senate mean that he cannot deliver the surplus when he said he would and he cannot continue to cut…
Media reports preceding the mid year economic and fiscal outlook suggest we should expect a deficit of just under A$50 billion, a further deterioration of Australia’s budget position since the pre-election…
Harald Sander, Cologne University of Applied Sciences (CUAS)
The EU Commission’s autumn economic forecasts are due tomorrow. What makes this event special this year is that there are rumours about a possible change in the Commission’s approach to calculating the…
The debate about long-term public finance and the role of government is one that is most definitely needed. However, there are two aspects to this debate that are often conflated. First, there is the issue…
Today’s announcement by the government that it has a $12 billion “black hole” had the status of a confession. It needn’t have. All talk of “black holes”, “revenue shortfalls” and “structural deficits…
All Australian governments, and ultimately all Australians, are faced with making tough decisions in their budgets. Without significant reductions in government expenditures and the services they provide…