PM the new bracket creep
Take a bow PM and Treasurer – ripping the heart out of Stage 3 tax cuts is the most clear-cut and outrageous of your growing list of broken election promises.
Take a bow PM and Treasurer – ripping the heart out of Stage 3 tax cuts is the most clear-cut and outrageous of your growing list of broken election promises.
The $212bn Future Fund is Australia’s greatest national financial asset and it must be protected at all costs.
The looming meetings of the RBA and the Federal Reserve plus the latest inflation figures will set the foundations for the year ahead and also test Treasurer Jim Chalmers.
It took until the last two months of the year, but the ‘Golden 2023’ for investors, that I suggested just on a year ago might be delivered by the Fed, did finally arrive.
Treasurer Jim Chalmers has made an extended soap opera out of the appointment of the next RBA governor which has been grossly disrespectful to Philip Lowe.
Money laundering regulator Austrac has been able to turn utter incompetence and breathtaking failure into a multibillion-dollar penalty franchise.
The PM and Treasurer will announce the next RBA governor this week and I can confidently share it won’t be Philip Lowe nor our current ‘minister for energy idiocy’.
For many years we got to have our cake and eat it too but maybe we have entered a new reality with sustained 4-5 per cent inflation and an RBA cash rate around 4 per cent.
Treasurer Jim Chalmers has made no public statement that he will replace Philip Lowe as RBA governor but privately six names have been tossed around about who could fill his shoes.
June quarter inflation data and the appointment of RBA governor Philip Lowe’s successor are the keys to Australia’s interest rate future.
For the third month in a row the Reserve Bank board will again be asked to choose between hiking by 25 points or pausing.
Who do you really want running the RBA, making tough interest rate decisions – an independent governor and board or a treasurer focused on the ‘soft option’?
Original URL: https://www.couriermail.com.au/business/terry-mccrann/page/24