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Re: Australian economy

Postby HBS Guy » 15 Feb 2018, 17:50

The SMH editorial says that now is the time for Turnbull and Morrison to cut their losses, and, in doing so, reboot the whole discussion on tax reform. It explodes the use of the headline rate and explains how our effective tax rates are already competitive.

http://www.smh.com.au/comment/smh-editorial/time-for-turnbull-to-reboot-on-tax-20180214-h0w31q.html



Probably bump the effective rate UP a bit might be a good thing. And keep after the leaches who evade tax on billion dollar revenues!!!
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Re: Australian economy

Postby HBS Guy » 17 Feb 2018, 14:36

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Re: Australian economy

Postby HBS Guy » 21 Feb 2018, 18:45

Abbott & Co are going to cause the mother and father of all recessions—be prepared!
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Re: Australian economy

Postby johnsmith » 21 Feb 2018, 19:36




interesting article .... lotta people gonna hurt if rates go up
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Re: Australian economy

Postby HBS Guy » 21 Feb 2018, 21:09

Wages flat, utilities increasing, something’s got to give.
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Re: Australian economy

Postby HBS Guy » 22 Feb 2018, 08:45

BCA and tax cuts:

https://www.theage.com.au/business/the-economy/australian-big-business-jumps-on-the-trump-tax-bandwagon-20180220-p4z0y6.html

BCA sounds like a collection of shysters and tax dodgers, not actual businesses.
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Re: Australian economy

Postby HBS Guy » 22 Feb 2018, 08:49

The new TPP.

Puny benefits + great risks from investor–state dispute settlements.

We know what is in the new, US-less TPP because Jacinda Ahern released the text.

http://www.smh.com.au/federal-politics/political-news/tpp-new-zealand-sheds-light-on-the-deal-australia-is-about-to-sign-20180221-p4z14b.html

I think we could do much better just running out the real NBN, sorting out tax and tax dodgers, encouraging real innovation, getting rid of a lot of so–called free trade deals that are very bad for us, etc.
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Re: Australian economy

Postby HBS Guy » 22 Feb 2018, 08:57

Working—but homeless.

Wages grow 2.1%, housing costs grow 4.2%. Something’s got to give!


https://www.theguardian.com/australia-news/2018/feb/22/cost-of-living-pushing-australian-workers-into-homelessness

What will the TPP do for this? Not a single fucking thing!
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Re: Australian economy

Postby HBS Guy » 02 Mar 2018, 12:39

Have to read this later, re wage stagnation, the Accord and John Useless Howard.


https://www.theguardian.com/australia-news/2018/mar/02/who-is-to-blame-for-australias-stalled-wages
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Re: Australian economy

Postby johnsmith » 02 Mar 2018, 14:09

even the business community disagrees with the proposed tax cuts as they stand

http://www.abc.net.au/news/2018-03-02/agree-to-disagree-corporate-tax-cut-business-council/9501890
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Re: Australian economy

Postby HBS Guy » 22 Mar 2018, 14:03

HBS Guy wrote:Wages flat, utilities increasing, something’s got to give.


Unemployment rate rises last reporting period and this reporting period. Bet GDP figures are less too.
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Re: Australian economy

Postby Vulcan » 22 Mar 2018, 23:09

Increase in people leaving Private Health.
As a former employee in Private Health ...it really was a racket!
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Re: Australian economy

Postby HBS Guy » 23 Mar 2018, 03:17

The Libs have given us: stagflation.
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Re: Australian economy

Postby johnsmith » 23 Mar 2018, 08:40

HBS Guy wrote:The Libs have given us: stagflation.



lucky for them the aussie dollar fell after they took office. If it was still at parity with the US we'd be well and truly screwed by now
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Re: Australian economy

Postby HBS Guy » 21 Apr 2018, 05:12

The Australian Bureau of Statistics released the latest – Labour Force, Australia, March 2018 – today which showed that the Australian labour market has weakened further in the first three months of 2018 and is decidely weaker when compared to 2017. Employment growth was virtually zero (4,900 net increase) in March 2018 and participation fell, suppressing the otherwise inevitable rise in unemployment, which would have accompanied the weak employment growth. Unemployment fell slightly but only because the participation rate fell. Had the participation rate been constant across the months, the unemployment rate would have been 5.7 per cent rather than the official rate for March 2017 of 5.5 per cent. Further, underemployment rose marginally as did the broad labour underutilisation rate, which stands at 14.3 per cent (nearly 1.9 million workers are either without work or do not have sufficient hours of work. The teenage labour market was slightly improved. Overall, my assessment is that the Australian labour market has weakened again in March and remains a considerable distance from full employment. There is a lot of slack remaining and defies the foolish calls in recent days from those demanding reductions in the fiscal deficit.

The summary ABS Labour Force (seasonally adjusted) estimates for March 2018 are:

Employment increased 4,900 (0.04 per cent) – Full-time employment decreased 19,900 and part-time employment increased 24,800.

Unemployment decreased 2,400 to 730,200.

The official unemployment rate was steady at 5.5 per cent.

The participation rate decreased by 0.1 points to 65.5 per cent, which is still below its previous peak (December 2010) of 65.8 per cent.

Aggregate monthly hours worked increased 4.5 million hours (0.26 per cent).

The estimates for the March 2018 show that underemployment rose by 11.3 thousand and was estimated to be 8.4 per cent of the labour force (up 0.1 points from February 2018). The total labour underutilisation rate (unemployment plus underemployment) was stable at 14.3 per cent. There were 1,136.6 thousand persons underemployed and a total of 1,891.9 thousand workers either unemployed or underemployed.


http://bilbo.economicoutlook.net/blog/?p=39145
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