Australian budget

Cross-posted from The Conversation: In the past week, both major parties have made welcome, albeit tentative, commitments to tackle much-needed budget repair.

From Treasurer Scott Morrison: Australia has just concluded its 25th year of consecutive economic growth.

There’s been a strange silence on matters economic from the Government since it was elected.

From the ABC: The Nationals’ proposed tax increase on the two biggest iron ore miners would pose sovereign risk issues, WA’s State Development Minister says, as Labor continues to seek to drive a wedge between the two government alliance parties.

Dearly, deary me.

Is it worse when a PM has a thought bubble or when a PM has thought bubble, has it hosed by his expert advisors, then proceeds anyway?

From David Uren: Australia’s debt could blow out by more than $100 billion if the budget is wrong in its prediction that the economy will return to pre-crisis growth and the ­Turnbull government is unable to win Senate support for all of its outstanding savings ­measures.

Will the real leader of the Coalition please stand up, from the AFR: Government plans to limit lifetime non-concessional superannuation contributions to $500,000 are unravelling with Treasurer Scott Morrison now considering either lifting the limit to $750,000 or making the cap prospective.

From The Australian: Bill Shorten is holding out against $6 billion in budget cuts he “banked” in Labor’s election platform only weeks ago, shattering talk of a consensus on fiscal repair as he blasts Malcolm Turnbull for trying to legislate the savings.

From Moody’s: Moody’s Investors Service (“Moody’s”) has today affirmed Australia’s Aaa government issuer ratings, the Aaa senior unsecured rating and the (P)Aaa senior unsecured shelf rating.

This time from CBA: Investment is essential to both long run job creation and productivity growth, which ultimately drives real income growth.

From Rupert’s iron ore flunkies: The key export has now been holding above the $US55 threshold for six weeks, after jumping to $US55.90 on July 4, defying the many bears calling for the commodity price to slide over the rest of this year.

From The Australian: Malcolm Turnbull has picked another GST fight with premiers by promising Western Australia’s Liberal leader Colin Barnett that he would fix the formula so that each state was guaranteed a minimum share of their biggest source of tax revenue.

By Leith van Onselen The Australian Tax Office (ATO) has taken the fight to multinational corporations dodging tax, warning them not to load local subsidiaries with debt in a bid to minimise their tax bills.

By Leith van Onselen The Turnbull Government has been quick to cover its arse following Tuesday night’s online Census debacle, pinning the blame wholly on the ABS since it was the agency running the show.

By Leith van Onselen The barbs are flying thick and fast over Tuesday night’s Census debacle, which saw millions of Australians fail to complete the survey online amid heavy user traffic and accusations of hacking.

By Leith van Onselen The Turnbull Government’s double dissolution election and changes to Senate voting rules has backfired big time, with the Government now facing an even more hostile and fractured Senate, with the cross-bench hitting a record 11 member compared with eight prior to the 2016 federal election.

By Leith van Onselen Ten months is certainly a long time in politics.

By Leith van Onselen The South Australian Government will spend hundreds of thousands of taxpayer dollars on an eight week spin campaign to tackle negative perceptions about the state’s economy and its high unemployment.