Queensland has already received some good news regarding the upcoming 2016-17 Federal Budget, with the announcement two weeks’ ago that our share of GST revenue will be over $500 million higher in 2016-17 than we previously expected (see my post Extra GST revenue welcome, but Qld still faces big fiscal challenges). But what else will the Budget on the 3rd of May bring? Modest income tax cuts returning some of the bracket creep that has benefited the Government? A lifetime cap on superannuation (e.g. $2.5 million), after which tax concessions no longer apply, as is widely expected, in the interests of long-run fiscal sustainability? And what would any policy changes mean for the economy?
On the day after the Budget, on Wednesday 4 May at 12.30pm, at Brisbane’s grand old United Services Club on Wickham Terrace, you could enjoy a nice lunch and lively discussion on the economic implications of the Budget with well-known local economist Michael Knox, Chief Economist of Morgans, a leading stockbroking and wealth management firm.
The lunch is being arranged by the Economic Society of Australia (Qld) of which I am the Secretary. The cost of the lunch is $80 for ESA (Qld) members and $95 for non-members, but numbers are limited to 20 people for this exclusive briefing (so please register promptly at the ESA Qld website). Knowing Michael I am sure the conversation will be illuminating and entertaining. Michael has had a good year so far, including having made the early and accurate prediction that there would be a rally in the oil price. I am looking forward to his analysis of the Budget.
Michael Knox, Morgans’ Chief Economist