Doubts over the election promises made by the Coalition and Labor have been raised with new predictions the Australian economy is softening on the back of falling house prices and stagnant wages.
Labor, opposed to key elements of the Coalition's tax plans, hopes to raise billions from a string of measures including changes to negative gearing, franking credits and capital gains tax.But both are likely to run into an economy that will fail to grow at its long-term trend rate, Deloitte has warned in its latest outlook.Deloitte director Chris Richardson said local and global factors were playing into a slowdown that would continue this year and into 2020.
Opposition Leader Bill Shorten on Sunday again promised Labor would seek to drive up wages, while Treasurer Josh Frydenberg's budget is forecasting a lift in wage growth despite a slowdown in job creation.
Source: Financial Digest (financialdigest.net)
swrighteconomy Exactly, and Shorten reckons that his negative gearing policy is a good one FFS don’t any of these politicians do economics ?
swrighteconomy These surplus promises are a myth, always have been. We know that all politicians make false promises pre-election, post-election is a totally different thing, that's called reality.
swrighteconomy I thought a good economy was where most people could afford to buy stuff, support businesses by making them grow through sales and where people earned enough to purchase houses. Obviously the government has different ideas. auspol
swrighteconomy Wait until Bill kills negative gearing 😂 we know what will happen because the ALP Government tried it before. 😂
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coalition to blame for fall in house prices: Husic | Sky News AustraliaLabor frontbencher Ed Husic has told Sky News the Coalition is completely to blame for the housing market slump. \n\nUnder Labor, Mr Husic says Australians will see a resurgence in new home construction, more jobs, and less influence from investors who make it harder for first home buyers. \n\nThe Labor MP also shared his doubts over Adani, questioning the ‘arm-twisting exercise’ which has seen ministers threaten to quit and pressure other members publicly over the proposed coal mine. \n\n Yes they had a big Tax policy they dropped the libs and all that infighting really got little done at the expense of investors. Prices dropped on the Libs watch. Well they are the government What a ///////
Source: SkyNewsAust - 🏆 7. / 78 Read more »
House prices are falling and wages stagnant, but consumers are optimisticAs Treasury and the RBA warn of a 'sagging' economy, consumers have been buoyed by the prospect of tax relief. let the good times roll Consumers better be optimistic as the economy is fucked'😂
Source: smh - 🏆 6. / 80 Read more »
House prices predicted to fall another 10pc before 2020 reboundHouse prices in Sydney, Melbourne and Perth are set to continue their steep falls before a possible modest rebound in prices later this year or early next, Moody's Analytics predicts. Buyer profile has changed. People don't want to buy a 'House' anymore. They want a 'Home' decorated with beautiful original Oil On Canvas paintings. Being an Artist, working together with real estate stakeholders, my business is projecting exponential growth. . Seriously bad reporting again. Hey, I dunno Janda but maybe he is new to this... Moody's gave us GFC for starters... But you can't report hard news that they predict price rises in future without giving any coherrent argument why. This is just election propaganda. .
Source: abcnews - 🏆 5. / 83 Read more »
House prices set to fall even further this yearRatings agency Moody’s Analytics has dramatically revised down its predictions for the nation’s property market as low wages growth begins to bite. 9News
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Falling house prices expose borrowers to higher risk of 'negative equity', RBA warnsThe Reserve Bank says if housing prices continue to fall heavily, borrowers could hit negative equity. Well yes. They do. negativeequity Peter_F_Ryan. RBAInfo Yet we need falling house prices for affordable housing. Australia has successfully maneuvered itself into dead end street. Perpetual growth narrative. High construction/energy cost, Capitals full, High immigration, Speculators with printed Chinese money
Source: abcnews - 🏆 5. / 83 Read more »
Trump threatens to impose $US11b tariffs on Europe, IMF downgrades Australian economyGlobal markets fell after US President Donald Trump threatens Europe with further tariffs over allegations of unfair competition in the aviation industry. Awesome Tariffs would have saved our car industry and thousands of Aussie jobs. Trump is right. We were wrong. Gee, just recvd a letter from our Fed member for Higgins, Kelly O'Dwyer telling me how great the Aust economy is going under the Libs. Now l see the IMF have said the opposite? Who should l believe? The IMF or Kelly O'Dwyer? 🤔 confusedpleasehelp
Source: abcnews - 🏆 5. / 83 Read more »
Morrison's seven-year plan shows who it thinks more deserves a tax cutScott Morrison wants this election to be all about his redoubled plan for lower taxes. But Treasurer Josh Frydenberg doesn’t want anyone saying it will stop income tax being “progressive”. 1RossGittins Can always pick the angle media is pushing by the photos they use. 1RossGittins Scott is always talking 10 years out to d future It is done to inflate his budget/saving projection Only God can predict so far ahead Be truthful PM is a junk yard salesman They r always full of shit n holes 1RossGittins In just the few minutes of his opening pitch, he used the phrase 'strong economy' or something about keeping the 'economy strong' no fewer than 10 times He is a junk car salesman
Source: smh - 🏆 6. / 80 Read more »
'We shouldn't turn our economy upside down for climate change': Abbott | Sky News AustraliaTony Abbott’s seat of Warringah is under increasing threat from Independent Zali Steggall, who is pushing a climate change agenda. \n\nMs Steggall, a former Olympic athlete, says she doesn’t support Labor leader Bill Shorten’s higher taxing plans, negative gearing changes or retiree tax, but has refused to support a Scott Morrison led Liberal Party because it is not being ‘real’ about climate change. \n\nSitting member for Warringah Tony Abbott has told Sky News ‘climate change is real, and we should take sensible action to deal with it’ but Australia ‘should not turn our economy upside down in what could turn out to be a futile gesture’. \n\nHe says Australia could ‘crash the economy’ to achieve greater climate action ‘and the world’s emissions would continue going up and up and up because we are just 1.3 per cent of global emissions’. \n\n\n\n\n TonyAbbottMHR zalisteggall TonyAbbottMHR zalisteggall TonyAbbottMHR zalisteggall
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Bill Shorten defends Labor tax reform plans | Sky News AustraliaLabor leader Bill Shorten has defended his plan for major changes to the tax system, which the government says amounts to a $387 billion slug on Australians over a decade.\n\nOn the first full day of campaigning ahead of the May 18 election, Treasurer Josh Frydenberg released costings which he said showed Labor wanted to 'stifle aspiration' and damage the economy.\n\nMr Shorten, who campaigned in Sydney, said there were clear economic and social benefits to Labor's plan to overhaul negative gearing and capital gains tax and wind back franking credit refunds.\n\nImage: News Corp Australia \n\n\n\n\n\n\n\n\n Again, you're peddling garbage - Phil Gaejtens, the secretary of Treasury, has stated publicly that they DIDN'T cost the policies - this is just an IPA lie campaign. STOP PEDDLING LIES Kodswallop Treasury says it didn't cost Labor's policy because the request from the Treasurer did not reference the 'opposition' per se. (The policies submitted for costing just happened to be eerily similar) auspol
Source: SkyNewsAust - 🏆 7. / 78 Read more »
PM to draw the election battlelines on taxes | Sky News AustraliaPrime Minister Scott Morrison is expected to draw the election battlelines on Friday around taxes, warning a Labor government would bring a $387b tax burden to the economy.\n\nMr Morrison is expected to seize on Treasury costings, using the figures to outline the impact of Labor's plan to oppose to the Coalition's $230b in personal income tax cuts.\n\nAlong with Labor's proposal to reap an additional $157b in revenue from an overhaul on several tax instruments, including negative gearing and dividend changes.\n\nLabor leader Bill Shorten says his plan will lift wages and reduce inequality, as he sets up health funding and cutting the cost of cancer treatment as the primary focus of this second day of the campaign.\n ScottMorrisonMP Climate cowardice hides by throwing up the facade of fears of taxation ScottMorrisonMP Scare campaign l haven’t even got enough super let lone franking credits for nothing average worker ScottMorrisonMP BUT Remember Bill Shorten calls hiking up taxes 'brave' Labor MP Ged Kearney: 'Tax is a bloody privilege, stop talking about tax as a burden
Source: SkyNewsAust - 🏆 7. / 78 Read more »