Earlier this year the Australian Treasury released its recommendations for Australia’s future tax system. It was a wide ranging review, commissioned by the Government, to “make recommendations to position Australia to deal with the demographic, social, economic and environmental challenges of the 21st century”. There was one caveat — it wasn’t to consider any change in the level of the Goods and Services Tax (GST).
John Brogden, former opposition leader of the state of NSW, believes this was a mistake. On today’s BTalk he says we should push up the level of GST to replace existing differential state taxes that distort behaviour and deliver no benefit to the economy.
These days John is CEO of The Investment and Financial Services Council (IFSA), which is currently morphing itself into the Financial Services Council.
While I’ve got him on the line I ask him for his views on increases to the superannuation guarantee, the mining tax and population growth.
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Kev the Broadband Builder
Is the NBN announcement a good thing? The industry at large seems to say yes. The Opposition is less sold on the idea, as you’ll hear from Nick Minchin.
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The EU Gravy Train
We tend to think of the bureaucrats in Brussels as the people making the easy money out of the EU – but there are lots of people milking it here in the UK too.
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Bigger hopes of smaller hikes to come
A weakening dollar and a rally in bond yields. NAB’s Skye Masters says there’s some recognition that we are reaching the point where the pace of central bank tightening can slow down.
