Writer
Michael Keating
Michael Keating is a former Secretary of the Departments of Prime Minister and Cabinet, Finance and Employment, and Industrial Relations. He is presently a visiting fellow at the Australian National University.
-
MICHAEL KEATING. Is it legitimate to pay for a postal plebiscite using the Advance to the Minister of Finance?
This article questions the legitimacy of by-passing the need for Parliament’s approval by using the Advance to the Minister of Finance to pay for the Government’s postal plebiscite regarding attitudes to marriage equality for same-sex couples. Continue reading »
-
MICHAEL KEATING. Electricity Prices.
Electricity prices are a hot topic at present. Amidst the welter of claim and counter-claim as to what is the cause of higher electricity prices, there has been remarkably little use of the available evidence. Continue reading »
-
MICHAEL KEATING. Why Blame Neo-Liberal Economics: A Response
My previous article on Why Blame Neo-Liberal Economics, which argued that neo-liberal economics was not a main cause of increasing inequality, drew an unusually large and mostly critical response. While it is not feasible to respond to all the detailed points that my many critics have raised, in this response I propose to focus on Continue reading »
-
MICHAEL KEATING. Why Blame Neo-Liberal Economics?
The claim is frequently made that neo-liberal economic policies are responsible for an increase in inequality. However, no supporting analysis is ever offered to sustain such claims; the obvious reason being because they reflect the author’s imagination and prejudices. Continue reading »
-
MICHAEL KEATING. An appreciation of Ian Marsh.
Ian Marsh who passed away last week, was a highly original thinker with the genuine curiosity of a true intellectual. Ian liked to describe himself as one of the last ‘Deakinite Liberals’. This apt description reflected: Ian’s contributions to industrial policy, and especially how the state can help foster innovation, and Ian’s preference for a Continue reading »
-
MICHAEL KEATING. The British Election and Brexit
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. Continue reading »
-
MICHAEL KEATING. The 2017 Budget – A welcome change in direction. Part 1 of 2
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. Continue reading »
-
MICHAEL KEATING. The 2017 Budget – A welcome change in direction. Part 2 of 2
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 policy changes is good. Probably a greater concern is that some very significant policy issues Continue reading »
-
MICHAEL KEATING. Mid-Year Economic and Fiscal Outlook, 2016
The Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) released yesterday contains few changes and no surprises. The critical question is whether the path back to surplus is actually credible, especially given the many failed promises in the past. This post examines the government’s economic forecasts that underpin the budget numbers and whether the government’s approach Continue reading »
-
MICHAEL KEATING. Donald Trump and the ANZUS Alliance – Quo vadis series.
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 so what? What was the point of Richardson’s admonition, and what was he hoping to Continue reading »
-
MICHAEL KEATING. Superannuation Tax Concessions
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 target. Indeed, the Treasury Statement of Tax Expenditures shows that the annual cost of the Continue reading »
-
MICHAEL KEATING. The Future Outlook for Economic Reform
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 a cover for advancing the interests of the rich and powerful at their expense.’ Gittins Continue reading »
-
MICHAEL KEATING. Taxation Reform
Taxation reform is a continuing and topical issue. With a new government and the need for budget repair I am reposting below an earlier article in the policy series by Michael Keating. John Menadue Oliver Wendell Holmes, the great American jurist, is reputed to have said, ‘I like to pay taxes. In this way Continue reading »
-
MICHAEL KEATING. Improving employment participation.
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 per capita incomes of Australians, and therefore our living standards. In addition, being employed creates Continue reading »
-
MICHAEL KEATING. The role and responsibilities of government.
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 Different possible conceptions of the responsibilities and roles of government are an important backdrop to Continue reading »
-
MICHAEL KEATING. Brexit – What does it mean?
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? Continue reading »
-
Michael Keating[i]. From Deficit to a Balanced Budget
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 CEDA Balanced Budget Commission The Committee for Economic Development of Australia, which has a long Continue reading »
-
Michael Keating. The 2016-17 Budget. Part 1 of 2.
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, we could not have realistically expected any other sort of Budget, given the extent to Continue reading »
-
Michael Keating. The Government’s Plan for Jobs and Growth. Part 2 of 2.
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 can then sail to victory in the forthcoming election. Accordingly, in this article I propose Continue reading »
-
Michael Keating. The Turnbull Proposal for State Income Taxes
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 proposal were ever implemented, it is hardly new. For example, the Fraser Government actually legislated Continue reading »
-
Michael Keating. Federalism (repost)
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 government should be sovereign in its own sphere, with minimal duplication between the Commonwealth and Continue reading »
-
Michael Keating. The Outlook for Housing and Labor’s Tax Proposals
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 these circumstances it is important to have an accurate appreciation of the likely outlook for Continue reading »
-
Michael Keating. An Update on Tax Reform
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 from some State Premiers. But this posting is concerned about the consequences. First, in the Continue reading »
-
Michael Keating. The Turnbull Government’s Fiscal Strategy
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 economic strategy and what the Government expects that economic strategy to achieve. As had been Continue reading »
-
Michael Keating. The Turnbull Government’s Economic Strategy
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 represents the first major economic statement by the still relatively new Turnbull Government. As such Continue reading »
-
Michael Keating. The Key Options for Tax Reform
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 for any serious consideration of tax reform. Quite naturally it was equally acknowledged that government Continue reading »
-
Michael Keating. Tax Reform and Future Federal-State Relations
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 taxation system and the future of federal- state relations are inevitably closely connected. First, possible Continue reading »
-
Climate, Economy, Health, Human Rights, Immigration, refugees, Infrastructure, Media, SERIES: Freedom, opportunity and security, World Affairs
Michael Keating. The role of government in policy renewal.
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 posting Ross Gittins’ comments. John Menadue. Thank you Ross Gittins and thanks to you all Continue reading »
-
Michael Keating. The Turnbull Government’s Response to the Financial System Inquiry
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 adopt’. Indeed, the surprise would have been if the Government had not been supportive (whoever Continue reading »
-
Michael Keating. Austerity, the Greek Economy and Grexit
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 endorsed that choice, although the record low voter turn-out suggests with little enthusiasm and much Continue reading »