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Tag Archives: Michael Keating
Mrs. May called the election ostensibly to strengthen her mandate in the forthcoming Brexit negotiations. Although she failed to strengthen her majority, it is doubtful if the election result will have any impact on the Brexit negotiations.
This Budget represents a welcome change in direction. Forget the politics, it deserves to be supported. This latest Coalition Budget finally reflects a realistic appraisal of Australia’s fiscal needs.
Budget repair was never going to be easy. That is one reason why it has taken so long with quite a few false starts. While some of the individual decisions in this Budget are debateable, overall the quality of the … Continue reading
We are spending enormous sums on roads and increasing our national debt. Communities are being seriously disrupted and the congestion is increasing. When will we put a stop to this nonsense?
Quo vadis – Australian foreign policy and ANZUS. Summary. Dennis Richardson, the Secretary of the Defence Department, recently informed us that the ANZUS Alliance was ongoing, irrespective of who was President of the United States. Of course, this is true, but … Continue reading
Almost everyone agrees that Budget repair will only be possible if both the revenue side of the Budget is reviewed as well as the expenditure side. In that context, the tax concessions for superannuation have loomed as a prime … Continue reading
In a recent article in the Sydney Morning Herald, Ross Gittins pronounced that we are ‘staring at the end of the era of economic reform. It has ended because it is seen by many voters as no more than … Continue reading
This is a repost of an article by Michael Keating last year which was part of the Fairness, Opportunity and Security policy series. John Menadue The rate of employment participation and the productivity of those employees together determine the average … Continue reading
With the election of the new government, I have decided to repost several articles from our policy series that are still relevant. One of these is by Michael Keating (below) on the role and responsibilities of government. John Menadue … Continue reading
To the evident surprise of most of the pundits the UK has voted decisively to leave the European Union (EU). The question now is what follows next?
The issue of budget repair has not been addressed adequately in the current election campaign. See below an earlier article by Michael Keating on various revenue and expenditure items that need to be considered. John Menadue A Report by the … Continue reading
Are conservatives better economic managers? Part 1 In my blog of 3 May 2016, I queried the claim by Malcolm Turnbull and apparently supported by many media commentators and also by the public, that conservatives are better economic managers. The … Continue reading
The Turnbull Government’s Budget for 2016-17 reflects an essentially ‘steady as she goes’ fiscal strategy. Not that that is a fault – indeed it can be a virtue, especially when matched against the give-aways in other previous pre-election budgets. Furthermore, … Continue reading
On Tuesday night the Treasurer announced that this year’s Budget was like none other – this Budget represents the Government’s Plan for Jobs and Growth. Presumably the Government hopes that its Plan will represent such a compelling narrative that it … Continue reading
The government has made a bad decision on acquiring the future submarines (FSMs). It’s bad for the Navy, bad for the taxpayer and it represents a major regression in terms of industry policy. It’s bad for the Navy because in … Continue reading
This week the Melbourne Age, SMH and the Canberra Times carried the following article written by Jon Stanford and Michael Keating on the $50 b. submarine project. This article is based on a three part article written by Jon Stanford … Continue reading
This article is a response to the article posted yesterday by Paul Barratt and Chris Barrie. ‘The case for building the future submarines in Australia.’ Both Paul Barratt and Chris Barrie have served at the highest levels in Defence and … Continue reading
Prime Minister Turnbull says his proposal for the States to levy their own income tax ‘is the most fundamental reform to the Federation in generations’. Well maybe. It certainly would be a significant change, but reform? Furthermore, even if this … Continue reading
The Government’s Commission of Audit, which preceded this Budget, recommended that policy and service delivery should as far as practicable be the responsibility of the level of government closest to the people receiving those services, and that each level of … Continue reading
Since the collapse of the mining boom, housing investment has been an important driver of the Australian economic performance. Furthermore, notwithstanding the rapid growth in superannuation balances, housing still accounts for over half of the wealth of Australian households. In … Continue reading
The Prime Minister seems to have been encouraging speculation that the Government has decided not to consider any reform of taxation that involves an increase in the GST. If true, hardly a courageous decision, given the support he has received … Continue reading
This second article, in response to the release of the Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) on Tuesday 15 December, focuses on the Government’s fiscal strategy. It is a companion piece to another article that focussed on the Government’s … Continue reading
The Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) released on Tuesday 15 December outlines the Government’s economic and fiscal strategy and, equally important, what it expects that strategy to achieve. It is especially significant on this occasion, as it … Continue reading
One useful outcome from the Council of Australian Governments (COAG) meeting on 11 December, was its acknowledgement of the “emerging budgetary pressures across all levels of government, particularly in the health sector.” This acknowledgement must be the critical starting point … Continue reading
All informed opinion is that fiscal repair in Australia will require action on the revenue side as well as the expenditure side of the Budget. Accordingly at least some tax reform is essential and unavoidable. In addition, reform of the … Continue reading
In thanking Ross Gittins for launching ‘Freedom, Opportunity and Security’, Mike Keating explains the reasons why he and I decided to launch this series, first online and now in a book. Mike Keating’s book launch notes follow. I will also be … Continue reading
The Government has adopted 43 of the 44 recommendations of the Financial System Inquiry (FSI). These recommendations had received wide support, and as I said in an earlier blog (21 January), ‘they should be relatively easy for the Government to … Continue reading
Faced with an unenviable choice between more austerity and a Grexit from the Euro the Greek Government after six months of resistance caved in and reluctantly opted for more austerity. Two weeks ago in the recent elections the Greek people … Continue reading