Blogotariat

The Productivity Commission (PC) recently announced a review of the corporate tax system, with the PC expected to release a draft report in late July and its final recommendations in December. Commission chair Danielle Wood says the review will examine issues such as tax incentives for new capital expenditure and cutting the tax rate paid

The post Australia must not cut the 30% company tax rate appeared first on MacroBusiness.

Australia is a kind of mind-moulding autocracy in which the words “immigration” and “racist” are interchangeable. At the zenith of this ersatz society sits a central bank that is paid to do one job and one job only: never mention the word “immigration”. In an immigration-led labour market expansion economy, it is therefore entirely predictable

The post Genius RBA realises there’s an excess of labour appeared first on MacroBusiness.

The Market Ear on the machines. —- Volatility compression – extreme edition S&P average stock IV has decreased by 12.6v over the last month. For additional context, the 1-month change in the 10-day moving average of intraday volatility is at the lowest level since COVID and second lowest since 2010. Source: GS Fear evaporated Goldman’s

The post Machines tire of stocks appeared first on MacroBusiness.

Treasurer Jim Chalmers has refused to rule out extending the federal government’s energy rebate for a third time. However, he acknowledges that the government is aware that the $6.8 billion rebate must end at some stage, which is why it has been extended for only six months rather than a year. “We only extended it

The post Replace energy rebates with gas reservation appeared first on MacroBusiness.

Westpac summarises the drivel. One area that the RBA had previously pointed to as a reason for not being confident that inflation can be sustained at current levels is the tightness of the labour market. While it still highlighted indicators that suggested remaining tightness, the forecasts for unemployment have been lifted slightly, while those for

The post More rate cuts are cooking in the tandoor appeared first on MacroBusiness.

DXY down. AUD down too. Leads boots again. Oli and gold up. Metals undecided. Miners EM stuck. High yield. Yields stable. Stocks stall. Credit Agricole. Higher long-term Treasury yields and tighter swap spreads have come following Moody’s Ratings downgrade. Moody’s downgraded the US to Aa1 from Aaa and changed the outlookto stable from negative on

The post Australian dollar gets an upgrade appeared first on MacroBusiness.

One promising green industry zone is lagging on 17 of the 19 indicators of a successful shift towards an economy powered by decarbonised industrial exports.

My latest in The Guardian 

I did an advanced class at Jujitsu last night, only because it was one of those weird nights when mostly senior belts were in attendance. I think we had one yellow belt on the mat, so we were able to break out the secret techniques. We just put the yellow belt in a corner to do some grading work.

Last year, former federal Treasury official Stephen Anthony warned that Victoria may need a federal “bailout” due to increasing state debt, which reached $27,729 per person in 2023-24. “Victoria is on a suicide mission to record borrowing, just as global interest rates are about to hit 5%”, Anthony warned. “Potholes can’t get filled, emergency departments

The post Victoria leeches off NSW appeared first on MacroBusiness.

Sorry about the delay on this one, and absence of recent posts. I’ve been in a bit of a rush, getting ready for travel. Will hopefully return to normal service soon.

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

SafeWorkSA takes legal action against energy giant in a case that highlights the risks associated with closing down old fossil fuel infrastructure.