The OECD said high household indebtedness could "exacerbate" any economic shock that hit Australia.
"High household indebtedness means that the authorities should stand ready to tighten macro-prudential policy settings if lower interest rates fuel house price inflation through a sharp pick-up in credit," the OECD found.While expecting further rate cuts, the organisation said the Morrison government should "loosen fiscal policy" to help get the economy growing faster.
"At the same time, growth-enhancing tax reforms should be prioritised. These include shifting the tax mix away from direct taxes and inefficient taxes like real estate stamp duty to the GST and land taxation."
swrighteconomy What we need is TARGETED spending that doesn;t flow into the pockets of the great Australian ripoffs, the multinationals, the banks, including the investment banks, the 'famed' Government private partnerships that COST the taxpayer... but money actually goes to the little guys
swrighteconomy Local and State governments and their increased charges and taxes are eroding the wages of ordinary Australians. This has got to stop now.
swrighteconomy liberals are terrible with the economy! No idea why australians keep falling for their bs.
swrighteconomy And Labor wanted to hit Australia with $387B in new taxes 2019 election Do you think that would've helped?
swrighteconomy Tell the RBA to keep cutting rates.....it’s worked so well all over the world.
swrighteconomy Gosh, ya think?
swrighteconomy and too many scumbag parents with drug habits
swrighteconomy We all know that is the case outside of Canberra!
swrighteconomy Well duh! Been that way for a long time now. The crackpot LNP's idea of sound economic management is a consumption tax boosted by new immigrants. ie. Zero substance, zero clue🙄
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Govt's infrastructure spending is 'an admission' that the economy is weak | Sky News AustraliaShadow Treasurer Jim Chalmers says the prime minister announcing extra investment in infrastructure shows an “admission that the economy is much weaker than Scott Morrison and Josh Frydenberg has been telling us”. \n\nMr Morrison announced the government will accelerate infrastructure investment by bringing forward close to $4 billion in funding over the next four years. \n\nResponding to sluggish growth and calls from the Reserve Bank for extra economic stimulus, Mr Morrison will spend an extra $1.8 billion this year and next on major projects.\n\n“All of their claims in the last six months or so, as the economy has deteriorated, they’ve been claiming that their policy setting has been bang on and the fundamentals of the economy is really strong, but this announcement proves neither of those things are true,” Mr Chalmers told Sky News.\n\n“This is an admission that they’ve been getting it wrong for some time now and Labor, the business community, the reserve bank and others have been getting it right.”\n\nImage: News Corp Australia JEChalmers How would you know, your still wet behind the ears, again, no experience, no idea and no brains. Any body can look smart, but it’s not the looks that count. It’s all in doing and you sure haven’t had any of that yet ? JEChalmers And this bloke is the alternative, and people don't think Australia is rooted. Goodness me ! 😟 JEChalmers Dingbat.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Govt's infrastructure spending is 'an admission' that the economy is weak | Sky News AustraliaShadow Treasurer Jim Chalmers says the prime minister announcing extra investment in infrastructure shows an “admission that the economy is much weaker than Scott Morrison and Josh Frydenberg has been telling us”. \n\nMr Morrison announced the government will accelerate infrastructure investment by bringing forward close to $4 billion in funding over the next four years. \n\nResponding to sluggish growth and calls from the Reserve Bank for extra economic stimulus, Mr Morrison will spend an extra $1.8 billion this year and next on major projects.\n\n“All of their claims in the last six months or so, as the economy has deteriorated, they’ve been claiming that their policy setting has been bang on and the fundamentals of the economy is really strong, but this announcement proves neither of those things are true,” Mr Chalmers told Sky News.\n\n“This is an admission that they’ve been getting it wrong for some time now and Labor, the business community, the reserve bank and others have been getting it right.”\n\nImage: News Corp Australia JEChalmers How would you know, your still wet behind the ears, again, no experience, no idea and no brains. Any body can look smart, but it’s not the looks that count. It’s all in doing and you sure haven’t had any of that yet ? JEChalmers And this bloke is the alternative, and people don't think Australia is rooted. Goodness me ! 😟 JEChalmers Dingbat.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Government to fast-track $3.8b in spending on road, rail projects to boost economyPrime Minister Scott Morrison will use a major speech on Wednesday night to outline the plans and warn against a 'panicked reaction' to economic challenges. CroweDM Are these road and rail infrastructure projects designated to be built through areas that have been recently ravaged by catastrophic bushfires? CroweDM So fast tracking according to bullshitboy LiarFromTheShire ScottMorrisonMP is trickle feeding $3.8b over 18 months..... CroweDM You mean they’re spending money on all the things they said they’d spend money on?
Source: smh - 🏆 6. / 80 Read more »
Australia needs to stop burning coal by 2030, report suggestsAustralia must stop burning coal by 2030 if it's to help contain warming to 1.5-degree rise, a new report says. And do what with them, give them to China ? Who do we buy the rare earth elements required to make the renewable energy systems? Asking for a friend. Then we have no electricity, and we all starve. But that is the plan isn't it ?
Source: SBSNews - 🏆 3. / 89 Read more »
'It's about time Qld Labor govt got on board to drive economy' | Sky News AustraliaNationals MP Keith Pitt says “it’s about time the Queensland Labor government got on board with what is needed in order to drive the economy”.\n\n“I’m pleased Queensland has finally come on board as the last state to sign up within the governmental agreement which will allow the inland rail to proceed into Queensland,” Mr Pitt said on Wednesday. \n\n“These things do take time, we can’t just spray cash around the economy and hope we hit the right mark… that is the Labor approach.”\n\nPrime Minister Scott Morrison has this week accelerated infrastructure investment by bringing forward close to $4 billion in funding over the next four years.\n\nResponding to sluggish growth and calls from the Reserve Bank for extra economic stimulus, Mr Morrison will spend an extra $1.8 billion this year and next on major projects.\n\n“This is good news for our regions, for our capital city, for jobs and it is about connecting infrastructure which is so important for every other business and every individual that drives on our roads,” Mr Pitt said.\n\nImage: News Corp Australia Can we create bushfires while driving the economy? Predictable. Hardly news.
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'It's about time Qld Labor govt got on board to drive economy' | Sky News AustraliaNationals MP Keith Pitt says “it’s about time the Queensland Labor government got on board with what is needed in order to drive the economy”.\n\n“I’m pleased Queensland has finally come on board as the last state to sign up within the governmental agreement which will allow the inland rail to proceed into Queensland,” Mr Pitt said on Wednesday. \n\n“These things do take time, we can’t just spray cash around the economy and hope we hit the right mark… that is the Labor approach.”\n\nPrime Minister Scott Morrison has this week accelerated infrastructure investment by bringing forward close to $4 billion in funding over the next four years.\n\nResponding to sluggish growth and calls from the Reserve Bank for extra economic stimulus, Mr Morrison will spend an extra $1.8 billion this year and next on major projects.\n\n“This is good news for our regions, for our capital city, for jobs and it is about connecting infrastructure which is so important for every other business and every individual that drives on our roads,” Mr Pitt said.\n\nImage: News Corp Australia keithjpitt Be fair Keith they're still trying to fix up the disaster that was Campbell Newman, not helped by the clowns running the country from Canberra. PS. There are no jobs in automated coal mines dopey. Just net job losses in existing mines in a declining coal market. keithjpitt A Renewable energy boom! As opposed to adani100jobs auspol keithjpitt How can they. The Qld govt is broke
Source: SkyNewsAust - 🏆 7. / 78 Read more »