Today
Lower inflation sets up RBA rate cut
The RBA monetary policy board is likely to cut rates for the third time this year at its meeting on August 11-12, after the release of the latest underlying inflation figures.
Wellbeing claims stall productivity: Stokes
One of the nation’s major employers, Ryan Stokes, says worker abuse of compensation claims for mental health must be tackled at the economic roundtable.
Yesterday
Joe Longo smiling over ‘aggressive’ ASIC criticisms
Despite claims that the watchdog has become a “gotcha regulator”, the ASIC chairman wants it to have a reputation for being “forthright, bold and ambitious”.
This Month
Chalmers urged to pull the leash on ASIC
Former corporate cop James Shipton says the Treasurer’s failure to issue a statement of expectations to the regulator is allowing it to avoid accountability.
Mathias Cormann reappointed OECD boss with Trump’s blessing
The US President’s top economic adviser praised the reappointment of “a former conservative finance minister of our indispensable friend and ally Australia”.
Tax breaks pitch to reward new business investment
The Productivity Commission will recommend more generous immediate deductions for new investment by companies to boost stalled non-mining business spending.
‘Gotcha’ regulators are hurting economy, ex-Treasury boss says
Martin Parkinson says aggressive watchdogs have become prone to front-running cases in the media, imposing administrative red tape and uncertainty.
Hit capital gains and trusts to cut income tax, experts tell Chalmers
Economists at a roundtable at Parliament have urged the government to reduce its dependence on wage taxes and rebalance the system to help younger people.
Productivity boost would make workers $14,000 richer
Productivity Commission chairwoman Danielle Wood has handed recommendations, including on corporate tax, to the government to lift the economy out of stagnation.
Bullock warns inflation may take longer to tame
The governor says the Reserve Bank’s preferred measure of underlying inflation may not fall as quickly as anticipated, signalling an interest rate cut next month is not guaranteed.
Fading mining boom will cost Aussies $75k each, Westpac warns
Australians will forfeit tens of thousands in potential income over the next decade unless stagnant productivity can be revived.
More than 50pc of voters now rely on government for their main income
A “culture of dependency” has lifted spending to its highest level since World War II, and the National Disability Insurance Scheme is the chief culprit.
AI a Trojan horse for more IR regulation, business warns
CEOs invited to next month’s meeting fear artificial intelligence will be used as cover to push for unions to have veto power over the introduction of technologies.
‘We’re being done over’: Alan Joyce fears repeat of Labor’s 2022 jobs summit
The former Qantas CEO suggests business seeks a guarantee that the productivity summit isn’t orchestrated.
A Labor prodigy’s fast rise – but does he bleed enough for the voters?
Andrew Charlton has the economic credentials, the money, the networks and momentum. All eyes are on how far the long-term rival of Jim Chalmers can go.
John Stone, former Treasury secretary, dies aged 96
Former prime minister John Howard has remembered John Stone as a public servant with “superb intellect”.
Big miners fear tax increase from Chalmers’ roundtable
Resources companies are nervous that next month’s meeting with business, unions and policymakers will target mining and energy to pay for cutting other taxes.
The jobless rate is up. Over to you Governor Bullock
The unexpected jump in the unemployment rate to 4.3 per cent will put scrutiny on the RBA’s surprise decision not to cut interest rates this month.
Jobless rate rises to 4.3pc, cements RBA rate cut
The unemployment rate has jumped to 4.3 per cent, confirming the jobs market is cooling and paving the way an RBA cut to interest rates next month.
Ken Henry says you should be half-a-million dollars richer
Australians have lost $500k in pay rises over the past 25 years because of the economy’s abysmal productivity, says former Treasury boss Ken Henry.