Economic Policies
The Nobel Prize winning economist James Tobin once said that the study of economics “offered the hope, as it still does, that improved understanding could better the lot of mankind”. One of the ways in which it does this is through the implementation of economic policy that helps to ameliorate boom-and-bust cycles, reduces unemployment, contains inflation or lifts people’s living standards in sustainable ways.
Widening the Gap – An Intergenerational Lens on Wealth Inequality in Australia
Australian Society and Politics, Economic Policies, Housing, The Australian Economy | 12th December 2024Wealth is inevitably more unequally distributed than income. And inequality in the distribution of wealth has increased more than inequality in the distribution of income in Australia (as in many other countries) over the past two decades or so. But what’s particularly striking, at least in Australia, is how inequality in the distribution of wealth […]
How Victoria became one of Australia’s ‘poor states’
Economic Policies, News, Publications, The Australian Economy | 25th November 2024Over the past two-and-a-half decades Victoria has gone from being one of Australia’s most prosperous states to being one of its three poorest, on most indicators, and its most heavily indebted. This article, published by the Australian Financial Review on 25th November 2024, explains how and why.
Elections and economies – the US and Australia
Australian Society and Politics, Economic Policies, The Australian Economy, The Global Economy | 23rd November 2024Donald Trump’s clear (although not overhelming) victory in November’s US Presidential election, combined with the Republicans’ capture of both Houses of the US Congress, puts him in a strong position to implement his agenda. The combination of swingeing increases in tariffs, the deportation of between 1.3 and 8 million migrant workers, a futher increase in […]
Opening Statement to Senate Select Committee on the Tasmanian Freight Equalization Scheme
Economic Policies, Tasmania | 13th November 2024I was asked to give evidence to the Senate Select Committee inquiry into the Tasmanian Freight Equalization Scheme which held a public hearing in Hobart on 13th November. Here’s my ‘opening statement’ to the hearing. In answers to questions about what needs to be done, I suggested that the ‘parameters’ used to determine rates […]
“Hiding in Plain Sight” – $180 billion of spending over four years.
Australian Society and Politics, Economic Policies, The Australian Economy, Topics | 11th November 2024The Australian Financial Review‘s Economics correspondent Michael Read has an article about the increasing propensity of Federal Governments of both political persuasions to obscure on-going spending in a category officially termed ‘investments in financial assets for policy purposes’, which in the Federal Budget Papers is the difference between the ‘headline’ budget balance – which despite […]
‘Tasmanian Money Matters’ – Tasmania’s Economy and Public Finances
Economic Policies, Tasmania | 3rd October 2024Tasmania is no longer ‘leading the nation’ on most economic indicators, as it was for a while between 2017 and 2022, and its public finances are on track to become the worst of any state or territory. And the current Government isn’t doing anything about either. Saul’s presentation to an ‘Island of Ideas’ forum hosted […]
Negative Gearing
Economic Policies, Housing, News, Recent Media Interview, Taxation | 26th September 2024Saul talks to ABC News Channel’s “Afternoon Briefing” presenter Greg Jennett about reports that the Albanese Government may be thinking about changes to negative gearing and/or the capital gains tax discount, and what such changes might mean for housing affordability.
Will Anthony Albanese succeed where Bill Shorten failed in making changes to the taxation treatment of property investment?
Australian Society and Politics, Economic Policies, Housing, Taxation | 26th September 2024Article published by Pearls and Irritations on 26th September 2024, revisiting the arguments for winding backk ‘negative gearing’ and the capital gains tax discount, in the light of press reports suggesting that the Albanese Governmnt has asked Treasury to consider options for reform.