Category Archives: Budget

Will Qld have problems rolling over its debt?

Posted on June 16, 2012 by Gene Tunny

The Queensland Commission of Audit report released yesterday contains a solid analysis of the risks facing the budget, some of which are highly probable (e.g. a blowout in the cost of the Commonwealth Games), and some of which are remote. … Continue reading →

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No surprises in Commission of Audit findings

Posted on June 15, 2012 by Gene Tunny

I’m unimpressed by the Commission of Audit’s findings that have been reported this morning, prior to the formal launch of its report later today. The Brisbane Times reports Debt paid Labor’s bills, which isn’t a revelation and wasn’t covered up … Continue reading →

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Qld employer surveys suggest solid employment growth over rest of 2012

Posted on June 12, 2012 by Gene Tunny

In contrast to the depressing national NAB survey released today (see MacroBusiness for coverage), recent surveys of Queensland employers suggest a rebound in employment in the State, as reported in the Courier-Mail today (Job prospects on the up): According to … Continue reading →

Posted in Budget, Labour market, Macroeconomy | 1 Comment

Qld credit rating downgrade by Fitch would be unjustifiable

Posted on June 12, 2012 by Gene Tunny

Ratings agency Fitch has hinted it will downgrade Queensland’s credit rating again, according to a report in today’s Courier-Mail: QUEENSLAND’S battered credit rating looks set to take another hit with ratings agency Fitch preparing to downgrade the state’s outlook yet … Continue reading →

Posted in Budget, Macroeconomy | 2 Comments

Corporate welfare stabilises as Commonwealth responds to budgetary pressures

Posted on June 6, 2012 by Gene Tunny

I was pleased to see in the Productivity Commission’s latest Trade and Assistance Review, released today, that industry assistance from the Commonwealth slightly fell in 2010-11, and no doubt this is a reflection of policy decisions taken in response to … Continue reading →

Posted in Budget, Industry policy | Leave a comment

AOFM looks on the bright side of a large debt – “deep liquidity”

Posted on May 23, 2012 by Gene Tunny

Some clever chap at the Australian Office of Financial Management (AOFM) probably had a secret chuckle when the following advertising campaign was approved, which I noticed today but which may have been around for a while: By deep liquidity, the … Continue reading →

Posted in Budget | 1 Comment

Tax reform roadmap politicises Commonwealth Treasury

Posted on May 12, 2012 by Gene Tunny

When I was at the Treasury, it was well understood that, while Treasury is not independent and works for the Government of the day, Budget documents should nonetheless be written in a non-partisan way, as it would be an inappropriate … Continue reading →

Posted in Budget, Tax | 1 Comment

GST slump will cost Qld Government hundreds of millions

Posted on May 8, 2012 by Gene Tunny

There is some bad news for the Queensland Government in the Federal Budget released tonight (from p. 6 of Budget Statement 3): GST paid to the States is also forecast to be lower than previous estimates. GST expected to be … Continue reading →

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Tiny surplus only 0.1% of GDP

Posted on May 8, 2012 by Gene Tunny

The expected surplus for 2012-13 of $1.5 billion to be announced by Deputy PM-Treasurer Wayne Swan tonight is pretty insignificant in a $1.5 trillion economy – i.e. it’s only one-tenth of 1% of GDP (see Inspector Budget). Being fairer to … Continue reading →

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Mining sector already making a large contribution to Governments

Posted on April 24, 2012 by Gene Tunny

While the Interim Report of the GST Distribution Review was fairly unsurprising (see the Australian coverage at Big States fall short in bid to ‘fix’ GST), it contains some useful and interesting pieces of analysis, including this chart showing the … Continue reading →

Posted in Budget, Mining | Leave a comment