Treasurer Jim “chicken” Chalmers’ has released a hopeful new budget based upon some rosy assumptions. The headline numbers are realistic, but the wage price index is not going to re-accelerate unless unemployment falls more than forecast amid ongoing mass immigration of cheap Indian workers. This is a problem for revenue, especially with the mooted tax
Could it be that sense will finally prevail? ABC. Gas giants would be forced to supply more energy to the domestic energy market under gas reservation plans that could be adopted by both sides of politics in an election shootout over how best to secure more energy and drive down prices. In moves that would
A bit of Fedspeak overnight was overshadowed by the Clown Show in the White House overnight as markets remain somewhat hesitant as the April 2 deadline for Trump’s Tariff Tirade beckons. European shares were able to rebound firmly while Wall Street gave up some late gains to finish slightly higher. The USD pulled back ever
The Albanese government’s first budget, released in October 2022, forecasts net overseas migration of 470,000 over its first two financial years (2022-23 and 2023-24). They delivered more than double this number, with 1,060,000 net migrants arriving over nine quarters to Q3 2024. The May 2024 federal budget forecast net overseas migration of 260,000 for this
Roy Morgan Research has released polling, taken before Tuesday’s federal budget, showing that Labor (53%) has gained a strong lead over the Coalition (47%) on a two-party preferred basis. “If a Federal Election were held now, the ALP would be returned to Government with an increased majority with the ALP”, Roy Morgan reported. Roy Morgan’s
Labor handed down the ultimate pre-election pork-barreling budget, promising workers two more rounds of tax cuts and increasing expenditure in what will be the largest budget deficit since the pandemic. Major announcements included: a $17.1 billion package of income tax cuts (over five years); an $8.4 billion boost to Medicare; a $1.8 billion extension of
Not much action across Asian stock markets although offshore Chinese markets are feeling the pinch while mainland shares are unchanged as are the satellite Australian local stocks which have tread water again. The USD is also largely unchanged against the major currency pairs while the Australian dollar is failing to get back above the 63
Markets were slightly weak in February, but then turned nastily down in March. We sold down stocks at the start of March – more detail below. More market mayhem Two weeks ago, we lightened up substantially on stocks. I want to explain why we made these decisions and discuss the prevailing uncertainty in
Recall that the 2023-24 Victorian Budget expected the federal government to provide “a matching contribution” to the first stage of its Suburban Rail Loop (SRL) project. However, the federal government has so far only committed to funding $2.2 billion, leaving a potential funding hole from the federal government of $9.3 billion. The $11.5 billion expected
There is no limit to the insanity the federal government will go to to pump the property ponzi. Last week, the Albanese government announced that it will offer $3,000 interest-free loans to households to help them buy essentials. Over the weekend, Prime Minister Anthony Albanese announced that Labor would expand ‘Help to Buy’ to encourage