by Richard Denniss
[Originally publioshed in the Australian Financial Review, 09 July 2019]
We need to reform the way we talk about reform. Unless we urgently implement "reform reform", it’s likely that hard-working mums and dads will lose their jobs and life savings and, obviously, that would be the fault of the Labor Party. And the unions. And anyone else opposed to the reform reforms.
New research from The Australia Institute has shown that South Australians consider the privatisation of their energy network to be the number one reason for the increasing cost of electricity. Price gouging from power companies was considered the second most likely cause of increasing energy costs, according to the survey.
Key findings;
by Ebony Bennett
[Originally Published in The Canberra Times, 29 June 2019]
You have to hand it to the Coalition. It says it hates Labor's style of "class war" politics, but the reality is the conservative side of politics is just better at it. The Coalition has so radically reshaped our tax debate that earlier this week Labor was debating whether or not earning an income $200,000 a year should be classified as the "top end".
The income tax cut legislation to be introduced to Parliament this week is the largest single budgetary measure not to face a Senate Inquiry.
The Australia Institute is today releasing a proposed Terms of Reference for a potential Senate Inquiry and new analysis on the fiscal risks associated with the Stage 3 tax cuts.
“The income tax legislation is the largest single budget measure not to face a Senate Inquiry,” said Ben Oquist, Executive Director of the Australia Institute.
“Given Stage 3 does not come into effect for another five years, it would be wise for the Senate to take its time to consider their implications.
by Richard Denniss
[Originally published on The Guardian Australia, 26 June 2019]
by Richard Denniss
[Originally Published in the Australian Financial Review, 26 June 2019]
Imagine if the Reserve Bank of Australia (RBA) conducted monetary policy the way the Morrison government conducted fiscal policy. Step one: publish optimistic forecasts of GDP and wage growth to create “confidence”. Step two: set interest rates five years down the track, based on those optimistic forecasts. Step three: when the economy dramatically slows, stick with your original policy settings. What could go wrong?
New Australia Institute analysis of the long term impacts of bracket creep shows that taxpayers are being over compensated for bracket creep at all income levels.
The government has used bracket creep as a key reason why it needs to implement its income tax cuts package as outlined in the 2019 Budget.
Key Findings:
The Marshall Government’s 2019-20 Budget, which doubles down on tax cuts for wealthy property investors while slugging regular South Australians with increased fees and charges, is a disappointing missed opportunity, independent think tank The Australia Institute says.
“Increased fees and cuts to services are the price South Australians are being forced to pay because of declining revenue and the Government’s choice to cut taxes,” said Matt Grudnoff, The Australia Institute’s Senior Economist.
“Shifting revenue raising from wealthier South Australians to regular people and families is the last thing the Government should be doing in a slowing economy.
