Posts Tagged ‘ treasury department ’

The heat’s off Rudd

Sep 6th, 2008 | By David Harper | Category: Opinion

Ross Garnaut’s new emissions trading report represents a double bonus for the Rudd Government. It is desperately needed. Garnaut has given Rudd more policy flexibility and better political options on the nightmare issue. The unknown test is how Garnaut’s ideas will carry in the international arena.

Garnaut pushes low-key target

Sep 6th, 2008 | By David Harper | Category: Australia

The long-awaited Treasury modelling partly unveiled yesterday in Professor Garnaut’s interim report on emissions trading revealed that a 10per cent emissions cut - within a global agreement - would come at a surprisingly low cost for Australia, about 0.1 per cent of GDP a year or a 1.1 per cent reduction in growth by 2020.

Garnaut pushes 10pc cut in emissions by 2020

Sep 5th, 2008 | By David Harper | Category: Australia

The first publicly available results from the Treasury’s emissions trading modelling reveal that a 10 per cent emission reduction would reduce Australia’s GDP by 1.1 per cent by 2020 and result in a carbon price by that date of about $34.50.

Rudd thrown an emissions time bomb

Aug 22nd, 2008 | By David Harper | Category: Opinion

The Rudd Government’s response to climate change now becomes a diabolical challenge. It is trapped between its political pledge to price carbon to alter investment flows and this business analysis showing that under Rudd’s model, a range of Australian-based companies will struggle to stay viable, facing hefty profit declines, a crippling of new investment and significant carbon leakage offshore at Australia’s economic cost.

Hollow threats won’t be rated too highly

Aug 16th, 2008 | By David Harper | Category: Opinion

If the banks ignore all the free advice about how easily they can afford to pass on an official interest rate cut, the Rudd Government will find itself under pressure to find some way to make good on its threats.

RBA tells banks: pass on rate cut

Aug 14th, 2008 | By David Harper | Category: Australia

The nation’s lenders have in the past year lifted interest rates faster than the Reserve Bank, taking the standard variable mortgage rate close to 10 per cent, as the fallout from the sub-prime crisis in the US raised their own cost of borrowing funds.

Ain’t broke, but still needs fixing

Aug 7th, 2008 | By David Harper | Category: Opinion

On any fair translation of the Treasury analysis, an idealised reform package for Australia begins with a company tax rate with a 2 in front of it, and an overhaul of the taxes we place on investment income, from capital gains to bank interest. Next is an emissions trading regime that restores some sanity to fuel taxes.

Treasury chief Ken Henry’s tax time bomb

Aug 7th, 2008 | By David Harper | Category: Australia

The Rudd Government ordered Treasury to conduct a taxation review following its 2020 Summit in April, hoping it would allow it to go into the 2010 election with a comprehensive reform package. However, the review shows the area in most urgent need of reform is cutting the disincentive to foreign investment, which carries no votes.

Report shows corporate taxes among highest in OECD

Aug 6th, 2008 | By David Harper | Category: Australia

The Australia’s Future Tax System report was prepared by Treasury secretary Ken Henry and tells the story of how Australia’s statutory corporate tax take has gone from below average to leap into the Top Ten highest tax rates in the Organisation for Economic Co-operation and Development.