Economy
Factcheck: Will the cut in the fuel tax excise be inflationary? No, it will not be.
Economists and other inflation watchers are claiming that the cut in the fuel excise will be inflationary. This is not true, as this claim ignores everything else that is happening in the economy right now.
Sophie Scamps urges capital gains tax reform: tax breaks are 'tilting the playing field'
On the back of polling showing strong support for tax concession reductions for property investors, independent member for Mackellar, Dr Sophie Scamps has voiced her support for the government to make changes in the upcoming federal budget to make housing fairer.
Do Tim Wilson’s claims on the gas export tax stack up? No, they don’t.
Shadow Treasury spokesperson, Tim Wilson, was on Triple J’s Hack yesterday and he made some interesting statements and claims about gas tax. To set the record straight: royalties are not tax, Australia does not have a gas shortage, and beer drinkers do pay more, than gas companies pay the PRRT.
Factcheck: Does the mining industry pay enough tax to fund medicare? Nice try, but no
In a new ad campaign, a mining lobby group claims that mining companies pay “enough tax to fund Medicare.” This is not true. Over the past ten years, the total cost of Medicare was $322 billion, while the mining industry paid $228 billion in tax, a gap of some $94 billion.
Here we go again: The big business myth that minimum wage pay rises cause recessions
In life it is nice to have things you can count on, and every time this year you can absolutely be guaranteed to hear business groups and their friendly economists screaming in fear that the ACTU and the Labor Government’s recommendation for an increase in the minimum wage will cause a recession.
Petrol prices are soaring in sync: collusion or coincidence?
The oil crisis has not only caused petrol prices to soar, it has revealed just how little competition there is among the big oil companies. A couple weeks ago the ACCC announced that it would be looking into uncompetitive behaviour by petrol companies in the rural areas.
ACOSS backs gas export tax as momentum builds across parliament
Australia’s peak council for community services ACOSS has joined the torrent of support including the Greens and independent members of parliament for a 25% levy on gas exports, originally proposed by the ACTU.
Fuel costs and RBA hikes equal to a 90 basis point rate rise: 'this is brutal'
Combined with the 50 basis points rise in February and March in less than 2 months households are paying the equivalent of a 90 basis point rise in interest rates.
A real wage increase in the Minimum Wage won’t cause inflation to rise
News has come out today that the Government’s submission to the Fair Work Commission for the annual wage review will recommend an “economically sustainable real wage increase” for the National Minimum Wage and the Modern Awards.
