Proposed changes to the Water Act reduce accountability, parliamentary oversight and facilitate changes to the Murray Darling Basin Plan that are based on political convenience rather than science. The bill should not be passed.
This paper examines the government’s 2018 personal income tax proposals by presenting a distributional analysis of the tax cuts and then looking at some general tax principles and considerations that we can use to assess the present proposals. We begin in the next section by outlining exactly how the government intends the tax cuts to operate.
The Australia Institute welcomes the opportunity to make a submission to the Environment and Communications Legislation Committee (the “Committee”) regarding the Clean Energy Finance Corporation Amendment (Carbon Capture and Storage) Bill 2017. In our recent submission to the Department of the Environment and Energy as part of the Clean Energy Finance Corporation Statutory Review, we highlighted the positive contribution the Clean Energy Finance Corporation (CEFC) has made to the Australian clean energy market.
Australian Energy Market Commission is conducting a Reliability Frameworks Review, which is looking at how to improve reliability in the National Electricity Market.
In our submission The Australia Institute argues that the best market reform under consideration by the Commission is wholesale demand response. Demand response allows energy consumers to reduce or delay their consumption of electricity and sell that conservation into the market.
Wholesale demand response could improve reliability and reduce costs by lowering the price of demand peaks. It may also reduce emissions by displacing fossil fuel generation during peaks of demand.
The Auditor-General has received correspondence from Senators Patrick, Griff, Hanson-Young and Bernardi, Ms Rebekha Sharkie MP and the Hon. Tony Burke MP dated 24 April 2018, requesting that the Auditor-General conduct an investigation to examine the purchases of water for environmental flows in the Murray-Darling Basin. This request is under consideration and the response will be published on the Australian National Audit Office website.
The present submission questions the Business Council of Australia’s (BCA) Commitment to increasing investment, employment and wages in the event that the outstanding tax cuts are legislated. We looked specifically at the 10 corporate CEOs who made the commitment on behalf of their companies and found some half of those paid no tax. One wonders what their commitment could possibly mean.
The Australia Institute welcomes the opportunity to make a submission to the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry.
We expect the Royal Commission to be swamped by submissions that relate to specific examples of misconduct. Our submission tries to take a step back and consider the extent to which undesirable outcomes are inevitable in the Australian financial system as it is today being characterised by serious imbalances of power and knowledge between the industry’s institutions and their customers.
The Australia Institute made a Submission to Review of the rate of return guidelines. As an appendix we have attached a paper, The equity premium in Australia, that should be read in conjunction with this submission. This paper was prepared for the 2017 Conference of the Society of Heterodox Economists at the University of New South Wales.
This submission will mainly concentrate on the use of two premia; the inflation premium and the ‘equity premium’ as it is generally called in the economics literature.
The Australia Institute made a submission to the Department of the Environment and Energy as part of the Clean Energy Finance Corporation Statutory Review.
This submission makes five main points regarding the CEFC relating to the two key issues for consideration by the Department, being: the effectiveness of the CEFC in facilitating increased flows of finance into the clean energy sector; and any other matters considered relevant to the operation of the CEFC Act more generally:
The Australia Institute welcomes the opportunity to make this submission to the Senate Inquiry on Corporate Tax Avoidance. The issue of tax avoidance by multinational companies has been a research focus of the Institute for some time. While issues of declining PRRT payments and low company tax payments are becoming widely known, particularly due to this committee’s work, another important part of public discussion is the claims by corporations that they are actually large tax payers.