Ross Gittens in the Sydney Morning Herald gives a warning, citing that "The nation's budget problem still won't be solved even when...we get the federal budget back into surplus." As successive intergenerational reports demonstrate, on present policies government spending will just grow and grow, requiring ever-higher taxes. The four biggest areas of spending include welfare benefits, … Continue reading Someone has to give if we’re to fix problems with the budget
As part of the Indonesian-Australian trade deal that is hoped to be signed off by the end of the year, Indonesia is pushing for its nurses and tourism workers to have better access to Australia's labour markets, in an attempt to improve the skills of its workforce and build capacity as well as reduce tariffs … Continue reading Push for nurses and tourism workers
Since the China-Australia Free Trade Agreement was signed 15 months ago, benefits have begun to flow, however much potential remains to be tapped in areas such as infrastructure and technology and multi-lateral co-operation. Since the arrangement came into force, more than 85% of Australian goods imported into China have entered the country Duty free or … Continue reading Free-Trade benefits flow smoothly or do they?
The United States withdrawral from the world stage in terms of Climate policy has paved the way for China to establish itself as the leader in environmental policy. Evidenced by Premier Li Keqiang's joint statement with the European Union in Brussels on Friday reaffirming that China would fully meet its Paris Agreement goals and the … Continue reading China poised to lead global action on Climate Change
In a speech on Thursday the 9th February, Governor of the Reserve Bank Phillip Lowe outlined an economic "to-do" list for 2017 and in doing so "implied criticism of the Turnbull government's weak performance." What does he think should be done? He has supported the Turnbull government's intention for a cut in the company tax … Continue reading Reserve Bank Chief gently reproves Turnbull’s failings
1st July A trillion dollars in debt, but no 'banana republic' On May 14th 1986, then Treasurer Paul Keating delivered a speech warning that Australia was in risk of becoming what he coined, a"banana Republic." This speech was a reaction to the biggest Current Account Deficit Recorded(CAD) and indeed, low commodity prices, high government debts … Continue reading Being in debt by a trillion dollars-not bad
The Australian Dollar has risen significantly against the US Dollar today, posting a 0.7% rise thanks to strong trading data from China. This highly supportive data has put the AUD USD exchange rate at 0.7730, the best rate since November 2016. Why is this so? China has recently posted a rise in the June trade surplus along … Continue reading Higher Chinese Trade Balance Pushes AUD USD Exchange Rate to 8-Month High
The outlook for China's economy has been boosted by stronger-than-expected growth for both exports and imports last month. Firmer global demand lifted June exports by 11.3 per cent in US dollar terms, up from the 8.7 per cent growth in May. In local currency terms, the value of exports grew by 17.3 per cent. Domestic … Continue reading China’s economy regaining momentum with a surprising jump in imports and exports