Economy
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It’s the tourism product stupid – not marketing! John Menadue
The Australian tourism industry tells us often that we need to spend more in marketing and publicity and that the tourists will come. I have always been sceptical; believing that what matters most is the tourism product itself. Marketing didn’t work with the Oprah Winfrey circus despite the government tipping in $5 million. On top Continue reading »
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The Miners’ Lament. John Menadue
It is only a matter of time before the miners start lamenting that they did not seriously negotiate with Kevin Rudd over his Resources Super Profits Tax (RSPT). The mining industry has always favoured rent/profit taxes instead of royalties. What the mining industry really disagreed with was the rate of the Resources Super Profits Tax. Continue reading »
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Myth-busting. John Menadue
One after another, the opinion polls tell us that the Liberal and National parties are much better economic managers than the ALP. This is despite Australia having one of the best performing economies in the world by almost any measure; debt, economic growth, employment and inflation. Unfortunately for the Liberal and National parties and John Continue reading »
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Truth, Trust and the Media. John Menadue
Our mainstream media is in a downward spiral. Its decline is driven by new technology and a growing sense by readers that we can no longer trust the media. We have a lot of spin, but very little well-informed debate. Ken Henry has commented that he can’t recall a time when public debate was so Continue reading »
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Are wage rates to blame? John Menadue
We have read a lot recently from retailers and restauranteurs about high wage rates particularly at weekends that are said to be a major burden for business. But is this the full story? There are several factors that we need to consider. Do we have too many retailers and restaurants? Restaurants seem to be opening Continue reading »
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Is the ALP a political party or a suicide cult? John Menadue
Friends overseas are amazed that with a world class economy such as ours, the Australian Government faces a rout. I try and explain that the government’s difficulties are self-inflicted; that it is tone-deaf on many political issues; that the Prime Minister is not being listened to and the public will not accept what she did Continue reading »
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An Excel coding error with tragic consequences. John Menadue
In 2010, just after the Greek financial crisis, two respected conservative Harvard economists, Reinhart and Rogoff, published a paper ‘Growth in a time of debt’ that said that once debt exceeded 90% of GDP, economic growth drops off sharply. Their thesis added great weight to those urging austerity on such countries as Greece, Spain and Continue reading »
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The blame game over schools: a way through the impasse. John Menadue
The Commonwealth and the States will blame each other for failure to agree on Gonski ‘light’. It is a pattern we have seen so often over many years, particularly in health. Federalism is just not working for us. It has become an obstacle to good government. The Commonwealth financial dominance will continue. The States are Continue reading »
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Where has the Business Council of Australia been? John Menadue
The BCA President, Tony Shepherd, was at it again on Wednesday 17 April at the National Press Club attacking the Government for many failures – a lack of focus, the need for politicians to sacrifice their jobs for the national interest and that old perennial of his, reform of the labour market. His comments were Continue reading »
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Privatisation on the wane. John Menadue
From the days of Maggie Thatcher, Ronald Reagan and John Howard, the assumption has been that the private sector will grow in relation to the public sector because it is more efficient and contributes more to the public good. The political correctness of the political Right assumed that privatisation would carry all before it. But not Continue reading »
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Productivity and Skills. John Menadue
For months, the Business Council of Australia and senior business executives have been banging on about the need to increase labour productivity. To achieve this, they have emphasised the need to amend the industrial relations legislation, ‘Fair Work Australia’ as essential to lift productivity. Many have seen it as an attempt by employers to rebalance Continue reading »
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Sport and Markets. Guest blogger: Ian McAuley
We are all suitably shocked by Justice Minister Jason Clare’s announcement of the findings of the Australian Crime Commission’s investigation into the use of prohibited substances and links to organized crime in sports. I heard his solemn announcement as I was driving home, past our local croquet club, and wondered if any code was exempt. Continue reading »
