GDP update: spending dips and saving soars as we stash rather than spend our tax cuts
Australians saved rather than spent most of the budget tax cuts, almost doubling the proportion of household income saved, leaving spending languishing.
Articles from Peter Martin
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5 questions about superannuation the government's new inquiry will need to ask
The government’s new retirement incomes review will need to work quickly.
On Friday Treasurer Josh Frydenberg said he expected a final report by June, just seven months after the issues paper he wants it to deliver by November.
GDP. Why we've the weakest economy since the global financial crisis, with few clear ways out
The Australian economy is tepid, with consumer spending the weakest in ten years, business investment shrinking, and economic growth too weak to cover population growth.
Were it not for very strong growth in export income and the biggest surge in government spending in 15 years, the economy would have shrunk.
Deeming rates explained. What is deeming, how does it cut pensions, and why do we have it?
Now it’s the Coalition that’s being accused of a “retiree tax”.
Mine are bigger than yours. Labor's surpluses are the Coalition's worst nightmare
On Friday morning the Coalition’s worst dream will come true.
All throughout the campaign, and all through the two terms in office and three prime ministers and three treasurers who preceded it, they’ve argued they are better than Labor at managing money. They had budget surpluses under Howard that Labor didn’t have under Rudd and Gillard.
Election tip: 23.9% is a meaningless figure, ignore the tax-to-GDP ratio
Expect to hear a lot about tax during the coming leaders’ debates.
It’s the budget cash splash that reaches back in time
Talk about retrospective. In his determination to quickly inject money into the economy (for economic as well as political reasons), Treasurer Josh Frydenberg has reached back in time to give us an extra tax cut on income already earned during the financial year that’s about to finish.