On 22 November 2017, a nation’s government legislated price controls in response to voter dissatisfaction with the rising cost of essential items. On 23 October 2018, the government of another nation announced it would require electricity suppliers to reduce their prices by the end of the year in response to voter dissatisfaction with the rising cost of electricity. The first country was Venezuela; the second was Australia.
Read moreConservatives will destroy the Liberal village to save it
The sight of the smouldering ruins of the Liberals’ Wentworth by-election campaign sends an unmistakeable signal to those party members willing to receive it. Yet the early indications are that there will be no policy shifts on matters of concern to the Australian people such as climate change and wages growth.
Read moreWhen Left and Right ensure the centre cannot hold
Advertising a horse race on the Opera House sails, described by Scott Morrison as Sydney's "biggest billboard". What's next? The Emirates Harbour Bridge? Such a pity the traditional owners of Uluru didn't think of it first: they could have arranged lasers beaming Hard Rock Hotels and Casinos at every evening's sunset. If it's good for the economy it's good for the people, according to the Prime Minister and Premier Berejiklian, supported by the Labor opposition.
Read moreFive ways to increase trust in Canberra
During last week, when I lamented the Muppet Show in Canberra, a tweeting critic challenged me to show some gumption and propose a series of reforms to revive Canberra’s standing. “In a tweet?” I queried. My twitter critic persisted: “I have always rated brevity very highly.” Bearing in mind that the most recent Edelman trust index shows a collapse of public trust in Australia’s government, I felt I should give a one-tweet reform agenda a crack.
Read moreAbandoning emission cuts is bad for business
By abandoning any effort to achieve Australia's carbon emissions reduction target agreed at the Paris climate change convention, the Morrison government has sought short-term political gain at the long-term expense of the planet, the nation and business. While this will be cause for celebration among the Turnbull-slayers and a victory for the Abbott-inspired insurgency that demanded as sharp as possible a contest with Labor on energy policy, it has rapidly escalated sovereign risk for business.
Read moreForget about legislating emission cuts
If proof of the incapacity of the Coalition to deal with climate change was ever needed, it was provided absolutely in the shambles of toppling Malcolm Turnbull from the prime ministership. For the conservative wing of the Liberal Party this was a glorious victory. For investors seeking a predictable policy framework and for the majority of Australians who expect their parliament to guide Australia to a low-carbon future it is a bitter disappointment.
Read moreWelcome to climate war without end
Business leaders calling for an end to the climate wars should direct their energies to the conservative faction of the Liberal Party, but even that is likely to be futile.
Read moreWhy I Quit Sky News
Yesterday I quit Sky News after five years as a commentator. Giving airtime to neo-Nazi, Blair Cottrell, might be passed off as defending the right to free speech, but former chief minister of the Northern Territory, Adam Giles, was effusive in his praise, wrapping up the interview with: “Good luck. I hope it all goes well for you.”
Read moreTargeting Bill Shorten has rebounded on Malcolm Turnbull
In the aftermath of Saturday's byelection results Liberal ministers are taking comfort that they lost the Ryan byelection in 2001, suffering a 10 per cent swing, only to win the federal election resoundingly eight months later. It's true that one byelection result – or even five – won't predetermine the outcome of a general election, but it's not true that there's nothing to learn from Super Saturday.
Read moreTaking the partisanship out of power
Policy, like politics, is the art of the possible. And it’s possible to get bipartisan agreement on a policy to achieve the elusive trilogy of electricity affordability, reliability and sustainability. But it will require an end to the hyper-partisanship that has destroyed previous, worthy efforts, such as the previous government’s emissions trading scheme. The only workable policy surviving a decade of climate wars is the National Energy Guarantee (NEG).
Read moreEnd the bipartisan slagging consensus in Canberra
Divisive public discourse and the dumbing down of policy debates into abusive slogans are dragging our nation backwards. They are not unique to Australia. It’s as if we are methodically working our way through the Donald Trump’s playbook. Every week the President of the United States and leader of the free world tweets hatred: “Shady James Comey”, “Cryin’ Chuck Schumer”, and his old favourite, “Crooked Hillary Clinton.” Really, is this truly making America great again?
Read moreNot every business failure is the banks' fault
Okay, now it’s getting ridiculous. The Banking Royal Commission has exposed some appalling behaviour by the banks, but not every poor decision of a customer is the bank’s fault. If an elderly parent goes guarantor for a loan there can be consequences if the loan is not repaid. That’s what going guarantor entails. If a couple on a modest income borrows a million dollars to buy properties and can’t service the loan, what is the bank supposed to do – say it’s alright, keep the money?
Read moreDebt and Deficit Disaster is Cancelled for Now
It is said in politics that the only colleagues you believe when contesting an internal party ballot are those who tell they won’t be voting for you. Yet the same politicians consider the voting public so gullible as to believe promises of tax cuts after the next election.
Read moreWhy the live sheep trade is at death's door
Most Australians have been appalled by the cruelty shown to sheep on not one but five voyages from Fremantle to the Middle East. Yet these were not isolated incidents. Countless sheep have perished over several decades, but only occasionally has incriminating footage emerged. To his credit, new agriculture minister, David Littleproud, has ordered a review into the standards applying to such shipments. But how independent is the minister’s review?
Read moreLabor stuck in middle of two maddies: the Greens and the Coalition
The world has gone mad. Or at least Australia’s centre-right political parties and the Greens have gone mad. In scrambling to the right and the left in an effort to resolve their leadership tensions, the non-Labor parties are vacating the centre, where elections are won. Bill Shorten can position Labor as the party of the centre by demonstrating fiscal discipline, reassuring the electorate that Labor can manage the nation’s books. On this the election result will swing.
Read moreNo free lunch on company tax
How refreshing it is that economists appear capable of having a debate about company tax rate cuts without resorting to political hyperbole. Well, almost. While alleging my analysis involves "nosedives" and "conspiracies", the government's preferred modeller, Chris Murphy at least traversed the theoretical economic arguments surrounding a cut in the company tax rate and acknowledges that I did too.
Read moreCompany tax cuts will tear at Australia's social fabric
Last week the odds of the Senate passing the Turnbull government’s company tax cut dramatically shortened with One Nation coming on board. It is timely, then, to reflect on what it will mean not only for our economy but for the fabric of our society.
Read moreWhy Labor's investment guarantee plan trumps tax cuts
Ever since the Turnbull government announced its plan to cut the company tax rate and Labor pledged to oppose it for larger companies, business organisations have been calling on the opposition to come up with an alternative. On Tuesday, Labor did just that.
Read moreWhat would Bob Hawke and Paul Keating do?
In grappling with Australia’s contemporary economic policy challenges, asking ‘what would Hawke and Keating do?’ should do no harm and might do some good. The modern methods of policy development seem so distantly removed from the successes of the 1980s and early 1990s. Fortunately, the recently aired two-part ABC documentary on the Hawke years offers some insights. Hopefully, so do my memoirs, The Boy from Baradine, relating my experience as an economic adviser in the Hawke office during the transformative economic reform period 1986-1990.
Read moreBoy from Baradine - this is how to order a copy online
https://scribepublications.com.au/books-authors/books/the-boy-from-baradine