Welcome to Eureka Street

back to site
Forgot your password?
Subscribe

Keywords: Treasury

  • ECONOMICS

    Joe Hockey's crystal ball

    • David James
    • 06 March 2015
    8 Comments

    The 2015 Intergenerational Report is reminiscent of a comment by that great 20th century philosopher and baseball player Yogi Berra: 'It’s tough to make predictions – especially about the future.' Many economic commentators have pointed out, rightly enough, that Treasury cannot even get its one year predictions right. Nevertheless, it is worth looking at how the 40 year forecasts are constructed to see the kind of thinking involved.

    READ MORE
  • AUSTRALIA

    Intergenerational fairness goes beyond economic competition

    • Andrew Hamilton
    • 05 March 2015
    14 Comments

    'Intergenerational' goings on are stirring public consciousness. On Thursday, Federal Treasury publishes its five-yearly Intergenerational Report. It provides a framework within which legitimate questions about winners and losers can be addressed, by including action on climate and narrowing wealth and international cooperation, rather than viewing society as merely the playground of competing individuals.

    READ MORE
  • ECONOMICS

    SMSFs offer 'pension fund socialism'

    • David James
    • 13 August 2014
    1 Comment

    In 1976 management thinker Peter Drucker said the real owners of the stock market were workers, through their pension funds. A similar broadening of ownership has occurred in Australia since the creation of compulsory superannuation. But intermediaries called fund managers still stood between the people and ultimate control of their financial destiny, until the rise of the Self Managed Super Fund (SMSF).

    READ MORE
  • INTERNATIONAL

    The unjustified secrecy of the Abbott Government

    • Jack Maxwell
    • 11 August 2014
    17 Comments

    Liberal democracies keep secrecy in check. Where secrecy is justified, this justification should itself be public. The Abbott Government has withheld important information from the public on questionable grounds, and it has shielded itself from criticism by stifling debate on whether that secrecy is justified.

    READ MORE
  • ECONOMICS

    Commbank plunder part of new world economic order

    • David James
    • 07 July 2014
    7 Comments

    As the Pope and economist Thomas Pikkety have observed in recent times, the inequity created by capitalism is a growing concern. But the problem with this argument is that 'capitalism' is too broad a term. The attack would be far better directed against the financialisation of developed economies. A new type of sovereign has emerged, and like all rulers they are cheerfully engaging in acts of plunder.

    READ MORE
  • ECONOMICS

    Super's evil empire on shaky ground

    • Brian Toohey
    • 11 June 2014
    15 Comments

    The superannuation industry inhabits a cosseted world in which the money pours in thanks to a combination of government compulsion and tax concessions. The foundations of this empire are criticised for how the tax concessions create an expensive form of upper class welfare, and for the harmful effect of compulsory super's artificial expansion of the finance sector. The Abbott Government shows scant concern about either aspect.

    READ MORE
  • AUSTRALIA

    The GST and Abbott's fair go for all

    • Michael Mullins
    • 07 April 2014
    7 Comments

    Federal Treasury secretary Martin Parkinson has called on the Government to increase the GST. In isolation this would hurt the poor and benefit the rich. But it could help the common good if it is part of a tax reform package that cuts tax avoidance strategies for high income earners, including superannuation concessions, negative gearing and trusts.

    READ MORE
  • AUSTRALIA

    What's killing the charities regulator?

    • Michael Mullins
    • 31 March 2014
    5 Comments

    The Federal Government is moving to abolish the body set up to protect and regulate the non-profit sector. Vinnies CEO John Falzon describes the action as 'ideological', while Melbourne Catholic education chief Stephen Elder sees it as an opportunity to spend more time raising money and delivering services. The Government must explain the policy imperatives driving it to dismantle such an extensively considered piece of legislation.

    READ MORE
  • ECONOMICS

    Deciphering capitalism's corrupt metaphors

    • David James
    • 07 February 2014
    15 Comments

    'All animals are equal, but some animals are more equal than others'. This was George Orwell's parody in Animal Farm of the vicious use of language in communist states. It was one of his memorable depictions of how the absurdities of language not only reflect evil, but also predicate it. Language was a tool of oppression in communist states. In capitalism it is no less vicious.

    READ MORE
  • AUSTRALIA

    Best of 2013: Australian democracy needs an intrusion of the excluded

    • John Falzon
    • 16 January 2014
    1 Comment

    Kevin Rudd says we need a 'new politics' or a 'new way'. Tony Abbott says we'll only get a new way by electing a new government. What is missing in both statements is the recognition that what we actually need is a new kind of economic democracy: a reconfiguration of our economic prioritising away from individualism towards the common good, and towards the participation of all rather than the exclusion of many.

    READ MORE
  • EDUCATION

    Pyne's Gonski shambles

    • Dean Ashenden
    • 02 December 2013
    20 Comments

    Federal Education Minister Christopher Pyne is correct in saying that the Gonski scheme is a mess, but culpably wrong to use that fact to ditch the whole idea. The Gonski mess shows few of the actors concerned in a good light, and some, including Pyne himself, in a very poor one. Pyne's contribution to this debacle was to act as spoiler from the day the Gonski report was released. In that role he has so far adopted no less than four positions.

    READ MORE
  • AUSTRALIA

    The forgotten Nationals

    • John Warhurst
    • 08 October 2013

    After a successful federal election the Nationals are nestled in a comfortable governing relationship as the junior partner of the Liberals. They can laugh at all those critics who for so long have predicted their demise. But they are out of sight. They could make an important contribution to the diversity of the Australian party system, but although the surface picture looks rosy it is at the cost of greatly diminished independence.

    READ MORE