Articles on government debt

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Selling reform to voters has proven challenging for the Prime Minister, but there are alternative options. Nikki Short/AAP

Governments paying price for ‘do it now or die’ approach to reform

The move to challenge the leadership of Prime Minister Tony Abbott, coming soon after the shock Queensland election outcome, has in some quarters been blamed on a lack of appetite for reform on the part…
We all want governments to do more with our taxes, so should we be willing to pay more? Photo sourced from Shutterstock.com

Put your hand up if you’d like to pay more tax

The same deep forces that were behind the election result in Queensland are being played out in Canberra. The Australian people want, although most won’t admit it, higher taxes – either now or in the future…
Treasurer Joe Hockey and Finance Minister Mathias Cormann say the government’s mid year outlook sets the path to budget recovery. AAP/Lukas Coch

Federal budget deficit climbs to $40.4bn: experts react

The federal budget deficit will blow out to A$40.4 billion in 2014-15, up from the $29.8 billion forecast in May’s budget, according to the Mid-Year Economic and Fiscal Outlook (MYEFO) released today…
Mining magnate Andrew Forrest might be be down $2 billion, but the decline in commodity prices is just one of many factors hurting Tony Abbott’s budget bottom line. Nikki Short/AAP

Productivity could trump the iron ore price, but who’s counting?

In the wake of a falling iron ore price that has cut his personal fortune by more than A$2 billion, Andrew Forrest has remained unperturbed, saying: “I didn’t count on the way up, and I’m not counting…
A hockey stick back to surplus? Lukas Coch/AAP

Hockey’s hockey stick: a lesson in budget fudging

You can’t fault a treasurer for trying to put the best possible spin on budget numbers — and that’s certainly what Joe Hockey did last night. The most important numbers, of course, are the deficit projections…
After a promising start to an ambitious economic turn-around program, Prime Minister Shinzo Abe will have more difficulty with tax changes scheduled to come in over the next few years. EPA/Harish Tyagi

Japanese tax hikes loom large for Abenomics

Another record trade deficit for Japan is raising doubts about Prime Minister Shinzo Abe’s “Abenomics” strategy for economic revival. The new figures follow poor manufacturing sentiment numbers earlier…
All options considered: Treasurer Joe Hockey has unveiled a bleak outlook for the May federal budget. AAP

‘All options on the table’: Hockey unveils MYEFO, experts react

Federal Treasurer Joe Hockey’s first budget update has revealed a massive blowout to the bottom line and a warning of a decade of deficits ahead. The government’s Mid-Year Economic and Fiscal Outlook (MYEFO…
Education Minister Christopher Pyne has flagged the possibility of selling off Australia’s HECS debt to help raise funds for the government. Alan Porritt/AAP

Selling off the HECS debt could be a super solution

Education Minister Christopher Pyne has confirmed the government is considering securitising Australia’s HECS debt, and has referred the issue to the Commission of Audit. This has immediately attracted…

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