The treasurer promised a “confronting” economic statement, but it held out hope of only a short spike in inflation and a recovery in real wages.
From October, Australia will start routinely quantifying the benefits as well as costs of federal spending. It’s already shaping up as the new treasurer’s most important legacy.
The panel believes Australia will avoid a recession the year ahead, but is much less certain about the United States. It expects real wages to go backwards and economic growth to sink.
The Coalition planned to tax company income from patents at 17% instead of 30%. While it would have lifted the number of patents, there’s little to suggest it would have lifted productivity.
Inflation, a slowdown in China and recessions in the US and elsewhere are big risks. Labor’s mandate is limited. It needs to build the case for an expanded one now.
For Canadians hoping to emerge from the pandemic with better jobs, a stronger economy and reduced inequality, employee ownership combined with employee participation is a promising way to get there.
While everyone’s talking about Anthony Albanese’s campaign stumble, the more extraordinary thing is that unemployment is actually set to fall below 4%. A 60-year low of 3% is now within sight.
Australian retirees die with most of the super they had when they finished work. There’s a measure in the budget that threatens to entrench that.
New research finds Japan has 14 times more solar and offshore wind energy potential than needed to supply all its current electricity demand. It doesn’t need Australia.
Funding for writing and publishing is not just low: it’s also declining. Ben Eltham looks at a grim federal budget for literature, in the context of ongoing neglect for written culture in Australia.
If elected, Anthony Albanese will deliver a fresh 2022 budget within months. His budget reply speech suggests much of it will be little different.
With the tapering down of COVID stimulus measures, many of Australia’s cultural institutions are facing cuts – but Australia Council funding remains steady.
Look beyond the fanfare about large infrastructure projects like Hells Gate and what we are left with is a largely business-as-usual budget for regional Australia
It is deeply regretful that the budget and forward estimates don’t specifically recognise the ongoing scale and the fiscal impact of climate disasters.
There is a crisis in women’s safety but the commitments are piecemeal and some aren’t even new.
Overall, health fared poorly in this year’s budget.
Whether a budget should be in surplus or deficit depends on the circumstances of the time. Gillard didn’t recognise it, Abbott didn’t recognise it. At last the message is getting through.
The March 29 budget will contain “targeted and proportionate” help for families with cost of living pressures and move fiscal policy towards stabilising and reducing debt.
Adjusting tax brackets in line with inflation would ensure voters who wanted more government spending would also have to vote for more tax.
The low and middle income tax offset keeps getting extended because to end it would be to deliver a tax hike. But it was designed for a purpose that no longer exists.