Category Archives: Budget

Tender for coal exploration permits a good way to help repair budget

Posted on January 14, 2012 by Gene Tunny

The new Henry-Review-inspired tender system for coal exploration permits, announced by Treasurer Fraser on Friday, is a clever, low cost way to raise much needed revenue to help fix the Queensland budget. The Mid Year Fiscal and Economic Review has … Continue reading →

Posted in Budget, Mining, Tax | Leave a comment

Eurozone crisis watch

Posted on December 29, 2011 by Gene Tunny

Today’s Italian bond auction went significantly better than expected, although nervous market watchers still found a reason to worry, as reported on the Guardian’s excellent Eurozone Crisis Live Blog: At first glance, the results are slightly better than feared (the … Continue reading →

Posted in Budget, Macroeconomy | Leave a comment

Seriously, are Qld taxpayers paying for zombie apocalypse education?

Posted on December 17, 2011 by Gene Tunny

This is a complete waste of taxpayers’ money and the State Library’s budget should be significantly cut and reallocated to a more deserving organisation if it thinks this is good value for money (Be very quiet, we’re dodging zombies): Fighting … Continue reading →

Posted in Budget | 4 Comments

Company super profits tax would cause budgetary problems for Government

Posted on December 7, 2011 by Gene Tunny

I am surprised the Government is even bothering to investigate the possibility of reforming company tax to only tax super profits, similar to the new minerals resource rent tax, as reported here: Swan tax shake-up targets super rich This would … Continue reading →

Posted in Budget, Tax | 3 Comments

Budget turnaround looks implausible in Treasurer’s chart

Posted on December 4, 2011 by Gene Tunny

I’m surprised Deputy PM and Treasurer Wayne Swan included this chart of budget balances in his economic note today, because it shows just how big (and implausible) the improvement in the Commonwealth Budget needs to be (i.e. around 2.6% of … Continue reading →

Posted in Budget | 2 Comments

Resources sector accounts for half of GDP growth

Posted on November 30, 2011 by Gene Tunny

The following chart in yesterday’s Mid-Year Economic and Fiscal Outlook (MYEFO) nicely illustrates the two-speed economy: Given the resources and resources-related sectors are around 15% of the economy, this chart suggests around half of Australia’s economic growth in the next … Continue reading →

Posted in Budget, Mining | Leave a comment

Education Dept will need to build a lot of new classrooms

Posted on November 20, 2011 by Gene Tunny

If there is a new Campbell Newman-led Government in Queensland next year, as the polls are suggesting, it will need to assess the budgetary implications of a large increase in the number of school students, before it commits funds to … Continue reading →

Posted in Budget, Education, Infrastructure | Leave a comment

Stamp duty volatility a risk to the Qld Budget

Posted on October 23, 2011 by Gene Tunny

RP Data’s Cameron Kusher makes some good points regarding the risk to the budget from relying on stamp duty revenue, which varies with the total value of property sales, as reported in the Townsville Bulletin yesterday (Governments facing stamp duty … Continue reading →

Posted in Budget, Tax, Uncategorized | Leave a comment

CEDA’s sovereign wealth fund call assumes budget surplus we don’t have

Posted on September 30, 2011 by Gene Tunny

Given that Australia hasn’t run a budget surplus since 2007-08, and it appears likely the current Treasurer Wayne Swan won’t ever deliver one (Swan resolute as budget bleeds its forecast surplus), CEDA’s call for a sovereign wealth fund is pointless … Continue reading →

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To boost productivity, Government should first cut wasteful spending

Posted on July 1, 2011 by Gene Tunny

Treasury Secretary Dr Martin Parkinson is right to argue for a new wave of reform to boost productivity. Hopefully he also recognises that one of the best things governments can do to boost productivity is to cut wasteful spending and … Continue reading →

Posted in Budget, Macroeconomy | 1 Comment