I am going to do back-flip with a triple pike here. Do-nothing Malcolm has circumvented Tony Abbott on carbon: The Coalition party room has endorsed the government’s new energy plan, despite objections from Tony Abbott and others that the policy still has a component aimed at reducing emissions….Energy retailers will be required to meet standards
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Via Westpac: September is a seasonally strong quarter due to the post June 30 price resetting of many administered prices and as such, the ABS seasonal factors moderate our estimate to a seasonally adjusted 0.4%. Key factors in Q3 are: the ongoing grocery competition holding back food prices; the annual repricing of the tobacco excise;
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By Leith van Onselen From Robert Gottliebsen (“Gotti”) comes an interesting titbit on the role that Australia’s dud Free Trade Agreements (FTAs) played in the car industry’s demise: The first Toyota closure reason was actually the so-called “free trade” agreements that Australia signed. Probably these agreements had more of an effect on Japanese executives in
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Dalian iron ore is still struggling today: Not RIO or BHP: The RIO rally is reckless. Nobody knows what’s coming from China in next few months. Big Gas is lovin’ it’s new guarantee as the Pensioner Killers roar: Big Gold has no time for bears like me, lovin’ the falling AUD: Big Sleazy is pouring
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By Leith van Onselen Last week, the Parliamentary Budget Office (PBO) released report claiming that middle-income earners will bear the burden of bracket creep (aka ‘fiscal drag’) as wage rises push 1.8 million Australians into higher tax brackets. At the time, I noted that the PBO’s projections around income tax were inflated given they seemed
The post Low wages growth to scuttle return to Budget surplus appeared first on MacroBusiness.
Amusing stuff! Aberdeen Asset Management, which manages more than half a trillion dollars worth of assets, said there was no housing bubble in 2015 and re-affirmed this view in a new research paper written by its Asia Pacific head of property research Milan Khatri. “We don’t believe that the Australian housing market is in a
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By Leith van Onselen The Australian Bureau of Statistics (ABS) today released new motor vehicle sales for the month of September, which registered a 0.5% seasonally adjusted decline in the number of sales over the month and a 0.8% fall over the year: Six jurisdictions reported decreases in new car sales in August whereas two
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RBA minutes: Domestic Economic Conditions Members commenced their discussion by noting that the Australian economy had grown by 0.8 per cent in the June quarter, in line with the Bank’s forecast. Growth in consumption and the contribution from net exports had been higher than in the March quarter, partly reflecting the unwinding of temporary factors. Members noted
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My head is exploding on this new energy stuff. The Greens are in uproar: Greens leader Richard Di Natale says the government has “effectively pulled out of the Paris Agreement” as he labelled Malcolm Turnbull “hollow” and “cowardly”. Senator Di Natale said the government would “argue against the laws of physics” by saying it could
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By Leith van Onselen The Business Council of Australia (BCA) and the Turnbull Government continue to argue that Australia’s company tax rate is among the highest in the world and that if we don’t reduce it then Australia will be left behind economically. For example, here’s the BCA’s chief executive, Jennifer Westacott, commenting on this
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