Having lifted the cash rate 11 times in the last 12 months, the RBA risks triggering a recession if it continues on its tightening path. The sharp lift in inflation as the economy roared back to life following the COVID-19 pandemic warranted a series of cash-rate increases. But the main source of inflation at that time was not excess demand but supply shortages, which could be expected to ease of their own accord, without needing to squeeze money out of the economy to drive down demand.

The Rip Van Winkles who expect the prime minister to break the election promise on the stage three tax cuts need to wake up to his plan to make Labor the natural party of government.

The PRRT as currently designed allows gas companies to claim 50 per cent of the value of gas delivered to market as its unprocessed value and 50 per cent of its value is caused by liquefying the gas. That is, the expenses associated with transforming unprocessed natural gas into liquefied natural gas (LNG) can be deducted from the price of LNG sold into the international market.

Closing out unduly generous concessions in the design of the tax will also offer stability in the taxing regime for the Australian offshore gas industry.

A nine-person Monetary Policy Board of trained economists is welcome. But there is a risk the RBA will slavishly persist with the monetarist thinking that results in higher unemployment.

The Liberal leader’s aim seems to be to keep his parliamentary party together – even at the risk of the wider party’s appeal.

The Liberals are dealing themselves out as a party of reform. More important is the relationship between the BCA and the ACTU.

Media outlets are increasingly fishing only in pools of their own prejudices – and this is not good for democracy.

The revelation of 1.9 million temporary unskilled and insecure workers does not look like the makings of a wage explosion.

With its continuing rate increases, the RBA is not being cruel to be kind. They are the result of an unquestioned dogma.

Migration and changing attitudes of the young will ensure fewer conservatives with the power to cling to Australia’s colonial past.

If Peter Dutton takes the Coalition back to the Abbott era, then more of their seats will tumble to the teals next time.

The ACTU must realise that many of the proposals in a major new Productivity Commission report will align with its own goals.

A Coalition campaign against a broken election promise might be enough to plunge Labor into minority government and destroy any chance of getting unpopular economic reform through parliament.

While arguments will persist about Gough Whitlam’s economic performance, it is his social and environmental reforms that have created an enduring legacy for Australia.

The central bank should pause and look at the lagging data. But it is unlikely to find evidence of an inflation problem from another era.

Free trade is under attack everywhere, but the ideal is as valid now as it was when David Ricardo and Adam Smith first theorised about it.

This budget won’t fix the problem: but ageing- and productivity-related problems are increasing funding pressures, and the tax system isn’t up to the revenue task.

The Hawke and Keating governments created a reforming narrative of banana republic turned clever country. Anthony Albanese could do the same with the climate revolution.

There are no wage or currency pressures that would justify the RBA following the Fed into aggressive rate rises.