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By Leith van Onselen Back in October, we reported how secret NSW Government documents had been released revealing that the Parramatta Light Rail Project – the centrepiece of the Government’s plans to cement Parramatta as Sydney’s second central business district, as well as facilitate the building thousands of apartments around Sydney Olympic Park – had

The post NSW light rail farce deepens appeared first on MacroBusiness.

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By Leith van Onselen Figures from the International Monetary Fund (IMF) show that Australian government debt has risen faster than most other developed nations, increasing from 16.7% of GDP to an expected 41.7% this year – a jump of 25 percentage points. From The Australian: The IMF report comes as Scott Morrison prepares to unveil

The post Aussie government debt booms appeared first on MacroBusiness.

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The truth comes out: Victorian Energy Minister Lily D’Ambrosio says the state will not sign up to Malcolm Turnbull’s signature energy policy tomorrow, demanding more information before the Andrews government makes a final decision by August. …Ms D’Ambrosio said Victoria was engaged in the policy but wanted a more detailed design of the NEG, demanding

The post Victoria: There is no NEG appeared first on MacroBusiness.

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There are so many issues coming out of the Royal Commission into banking that its hard to maintain the outrage.  Here is yet another one that might have slipped through in the torrent of misdeeds: Hayne: “As beneficiary you can’t call for the asset which is held on trust for you? Is that right?” AMP: “Yes, that’s

The post How to dodge dodgy money manager fees appeared first on MacroBusiness.

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By Leith van Onselen The Australian Council of Trade Unions (ACTU) has been ridiculed for releasing projections arguing that a $50 increase in the minimum wage would create 40,000 to 57,000 jobs. From The AFR: …economists say unions assume wage increases will appear as if “manna from heaven” and fail to consider any effect of

The post ACTU’s ‘trickle-up’ minimum wage demand ridiculed appeared first on MacroBusiness.

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Breaking from ME Bank ME’s standard variable rate for existing owner-occupier principal-and-interest borrowers with an LVR of 80% or less, will increase by 6 basis points to 5.09% p.a. (comparison rate 5.11% p.a.^). Variable rates for existing investor principal-and-interest borrowers will increase by 11 basis points, while rates for existing interest-only borrowers will increase by

The post ME Bank “forced” to hike mortgage rates on “funding costs” appeared first on MacroBusiness.

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By Leith van Onselen A new report by workplace expert, Conrad Liveris, claims that the Federal Budget has become far too reliant on personal income tax receipts, with the share of Federal Budget revenues from income taxes has grown from 39.7% a decade ago to 47.2% currently, with the dollar increase in taxes from income

The post Australia’s extreme reliance on personal income taxes appeared first on MacroBusiness.

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By Leith van Onselen You know Australia’s immigration intake is way too high, and that the community mood has turned, when even Bernard Salt – the self proclaimed “unabashed supporter of a bigger Australia” – believes Melbourne is growing too fast and argues that immigration needs to be moderated. From Nine News (here and here): Melbourne’s

The post Bernard Salt: Melbourne’s growing too fast. Cut immigration appeared first on MacroBusiness.

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DXY was firm last night: AUD was firm too: But not as strong as EM: Gold tried and failed to go higher: Oil succeeded: Base metals were strong: Big miners went nuts: EM stocks were firm: Junk didn’t buy it: US yields rose: Not bunds: Stocks firmed: So, as China cut its reserve ratio requirement

The post Dirt roars as China stimulates appeared first on MacroBusiness.

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Thursday 19 April 2018 The first headline that attracted my attention yesterday was “Greg Hunt interview goes off rails over ‘free speech’ and gay conversion therapy.” Now I was well aware that the conservative fight against homosexuality didn’t end with the success of the marriage equality legislation. Plus I was also aware of the “gay…

The post Day to Day Politics: Greg Hunt’s for Free Speech. appeared first on The AIM Network.

Via Propertychat: As you are probably aware the lending landscape is changing rapidly, what was possible a month ago is now a struggle. One of the biggest issues we are facing right now is a new responsible lending requirement for property investors to fully disclose the ALL COSTS of maintaining their properties. This includes insurance,

The post Panic grips mortgage broker as bank standards skyrocket appeared first on MacroBusiness.

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Thirteen cryptocurrency exchanges are now under the microscope of New York State Attorney General Eric Schneiderman, who has launched an inquiry into their policies and practices, according to a statement released by his office. Schneiderman’s office sent letters to Coinbase, […]

The post Cryptocurrency exchanges probed by New York attorney general appeared first on The Global Mail.