Monthly Archives: July 2015

Qld Business Leaders Hall of Fame induction dinner 2015 – good selection but for one controversial choice

Posted on July 31, 2015 by Gene Tunny

Last night, at the Brisbane Convention and Exhibition Centre, six past and present leaders of the Queensland business community were induced in to the Queensland Business Leaders Hall of Fame. The inductees for 2015 were: Lawrence Wackett, the so-called father … Continue reading →

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Productivity Commission re-litigates road pricing reform

Posted on July 28, 2015 by Gene Tunny

In situations where demand exceeds supply, a good or service can either be rationed by queuing or rationed by price. Economic theory is clear that it is most efficient to ration by price, as the good or service goes to … Continue reading →

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GST much more efficient way to raise revenue than income tax

Posted on July 25, 2015 by Gene Tunny

Flavio Menezes, Economics Professor at the University of Queensland, has an interesting piece at the Conversation fact checking a bold claim by federal MP Andrew Leigh that the GST is as economically inefficient as the income tax and less equitable … Continue reading →

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Lessons from John Howard’s GST reform suggest current tax reform process will most likely fail

Posted on July 23, 2015 by Gene Tunny

At a panel discussion on tax reform in Brisbane last night, there were some important insights for the current taxation debate made by former PM John Howard’s economic adviser Peter Crone, Australian newspaper contributing editor Professor Judith Sloan, and Griffith’s … Continue reading →

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RBA to address ESA Qld seminar on recent labour market developments

Posted on July 21, 2015 by Gene Tunny

As Australia has experienced below-trend economic growth recently, and the unemployment rate has crept up to around 6 per cent, reducing the bargaining power of employees, wages growth has fallen (chart above). This in turn has contributed to relatively low … Continue reading →

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Qld Govt expenditure growth has resumed after extraordinary period of austerity

Posted on July 19, 2015 by Gene Tunny

The debate over the 2015-16 Queensland Budget continues, with the Courier-Mail publishing an opinion piece by State Political Reporter Steven Wardill, Today’s problems in Queensland bigger tomorrow after Budget, say economists, quoting me and fellow economist (and friend and former … Continue reading →

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Right diagnosis from Qld Treasury on Qld’s debt problem, but wrong prescription

Posted on July 17, 2015 by Gene Tunny

The Review of State Finances (see p. 80) produced by Queensland Treasury to inform the 2015-16 Budget is clear that Queensland Government “debt is too high.” The Treasury acknowledges that the State’s balance sheet is not “in a position to … Continue reading →

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Qld economy propped up by residential building as business investment slumps

Posted on July 16, 2015 by Gene Tunny

The Brisbane Times has a report this morning on the well-known slump in business investment in Queensland, due partly to the completion or near completion of the LNG projects at Gladstone and partly to relatively low business confidence (see Qld … Continue reading →

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Qld Government opts for accounting tricks rather than true budget repair

Posted on July 14, 2015 by Gene Tunny

In the 2015-16 Queensland Budget, the Government has shown it subscribes to the maxim that one might as well be hanged for a sheep as for a lamb. The Government is undertaking at least three measures of dubious merit, including … Continue reading →

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QIC could still invest Govt super funds in GOCs, while Govt would argue it hasn’t technically raided super

Posted on July 13, 2015 by Gene Tunny

I recalled a great scene from one of my all-time favourite movies All the President’s Men when the Queensland Government today issued what may be a “non-denial denial” regarding the alleged Budget plan to use super funds to pay down … Continue reading →

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