Both opposition leader Bill Shorten and prime minister Scott Morrison dodged the question about maintaining a surplus no matter what.
The state of budget-balance fetishism in Australia means political leaders promise to balance the budget, no matter what.
It’s one thing to have money, it’s another to be able to spend it to best effect.
Last time Australia got lucky. We are unlikley to get lucky again.
Venezuelan President Nicolás Maduro created a new cryptocurrency called the ‘Petro’ to combat hyperinflation.
Reuters/Carlos Garcia Rawlins
When an elected leader turns autocratic, the economy tends to suffer. That's because, in a functioning democracy, economic policy is made jointly, with lawmakers playing a key role.
South Africa faces many economic challenges.
South Africa's President, Cyril Ramaphosa, needs to quickly address key challenges to restart the economy.
The economic credentials and plans of the two major parties are shaping up as a big election battleground.
Politics podcast: Michael Keating on a Fair Share.
The Conversation 54.4 MB (download)
Keating told The Conversation that taxation revenue will need to rise by another 3 percentage points of GDP in the next three decades.
Finance Minister Bill Morneau and Prime Minister Justin Trudeau leave the Prime Minister’s office holding copies of the federal budget in Ottawa in March. Would Canada benefit from a Budget Honesty Charter of the type that’s had success in Australia?
(THE CANADIAN PRESS/Sean Kilpatrick)
Australia's Charter of Budget Honesty could be easily adopted by Canada. Such a charter can include suggestions for constraints and rules that encourage fiscal discipline.
South Africa should look towards inclusive growth to push back the growing levels of poverty within the population.
The International Monetary Fund's view of how to fix South Africa's economy deserves to be seriously considered.
A closer look insider.
Danny Lawson/PA Wire/PA Images
What the Labour Party manifesto says about tax and spending – and whether or not it is viable.
aesthetics of crisis/Flickr
Where now for one of the great emblems of post-World War II global co-operation?
The budget is a centrepiece of fiscal policy in Australia.
Because the budget is a very difficult means of carrying out targeted fiscal policy, it's become more important as a centrepiece for the government's economic strategy.
With widening income differences and growing social divisions, citizens are less willing to support each other and taxpayers less willing to pay taxes.
Analysis shows that rising inequality over the past 20 years makes it harder to increase taxes and makes citizens less willing to pay them.
A zero rate for business could actually be a progressive move and would reflect the anti-bureaucratic spirit of Brexit.
Athens can celebrate two consecutive quarters of growth. Berlin must stomach some weakness. Everyone should remember cheap money isn't free money.
Donald Trump’s fiscal policies will struggle to meet both his rhetoric and his supporters’ expectations.
Trump's trickle-down economic ideas to cut taxes and invest in infrastructure may not go to plan. So it's not the type of fiscal policy leadership the world needs.
Staying put: Mark Carney.
The central bank's governor is locked into a white-hot political spat, but what can he actually do in the next two and a half years?
Australian Treasurer Scott Morrison says interest rate cuts are a ‘matter for the RBA,’ but he doesn’t want them to fall any lower.
While Australia faces its greatest economic challenges in a generation, we are still waiting for the greatest economic reformers in a generation to arrive.
Persistent low growth shows fiscal and monetary policy aren’t working.
In the battle against slow economic growth, perhaps the government and Reserve Bank should try doing nothing and let the economy restore itself.
The U.S. could do with a shot in the arm too.
Bear syringe via www.shutterstock.com
Although the Fed delayed raising rates this month, it has signaled it intends to wean the U.S. economy off its unprecedented monetary stimulus. Now the question is whether Congress will take the handoff.
Much like a Rio Olympics basketball match, the United States’ economy is coming out on top while Australia lags behind.
The US economy is improving off the back of jobs figures while in Australia, the government is being warned by the Reserve Bank to step up its game.