Australian budget

John Hearsch, president of rail advocacy organisation Rail Futures, believes Sydney’s second airport at Badgerys Creek could once and for all kill the proposal to build a high speed rail (HSR) line linking the major East Coast capitals.

From Richard Denniss at the AFR: Imagine if the Reserve Bank of Australia (RBA) conducted monetary policy the way the Morrison government conducted fiscal policy.

So says the RBA: Dr Lowe also said major infrastructure funding should be run like monetary policy – at arm’s length from the government – so that voters trust it is fit for purpose.

Former Productivity Commission chairman Peter Harris says the federal government should consider adopting key recommendations in the ‘Shifting The Dial’ report, which the Commission released in 2017.

By Leith van Onselen When it comes to cruelty against the unemployed, it’s hard to top the Morrison Government.

By Leith van Onselen Labor’s frontbench will meet on 24 June, amid growing pressure from within the party’s ranks to back the federal government’s full income tax package.

By Leith van Onselen You would be hard pressed to find a bigger racket than Australian pharmacies.

With the net debt of Australia’s state governments set to rise sharply in coming years to finance infrastructure projects for Australia’s population ponzi, analysis shows they have almost $220 billion worth of assets that could be privatised.

NSW’s Treasurer, Dominic Perrottet, has labelled federal-state financial relations “a mess” and demanded fundamental reform.

Witness the businomics ideology go to work.

By Leith van Onselen The NSW Budget was released yesterday, which downgraded the state’s stamp duty receipts by a further $232 million over the forward estimates, and marked a $10.6 billion plunge in stamp duty revenue since 2017.

Leith is busy putting together his critique of the NSW Budget, which has added some terrifically ill-timed austerity to the NSW economy.

By Leith van Onselen Treasurer Josh Frydenberg has refused to provide Labor with modelling showing how much the Coalition’s tax cuts would benefit people earning over $180,000.

Awesome stuff from CA: Ten million taxpayers will have to wait for July 1 tax cuts, with Centre Alliance declaring the legislation is not “urgent” and is unlikely to pass when Parliament returns.

Ross Gittins wants to see Keynesian stimulus: … any fiscal stimulus is very short run, so as to support the economy before monetary stimulus fully kicks in, thereby minimising the harm done.

By Leith van Onselen Victorian Premier, Dan Andrews, has tacitly admitted that the state is unable to build infrastructure fast enough to keep pace with manic immigration-driven population growth.

By Leith van Onselen As the NSW Government’s infrastructure building program approaches $100 billion, and Sydney’s population grows out of control, NSW Premier Gladys Berejiklian has subtly the federal government pay its fair share.

Via The Australian: Finance Minister Mathias Cormann has ruled out doing deals with crossbench senators to win their support for the Coalition’s $158 billion personal income tax cuts, intensifying pressure on Labor to back the plan.