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Articles on Economy

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Australian Treasurer Joe Hockey hosting the recent G20 finance ministers’ meeting in Sydney, a lead-up event to November’s Brisbane Summit. AAP Image/Dan Himbrechts

Double or nothing: Australia’s G20 energy challenge

When Australia hosts the G20 Leaders’ Summit in November, a top agenda item for its “Brisbane Action Plan” will be “practical actions to improve productivity and competitiveness”. So here’s a good place…
A mini power plant in a North Sydney basement. Trigeneration plants like these generate electricity, heating and cooling far more efficiently than with mains power. AAP/Short Communications, Girrit Fokkema

How to save business billions, without cutting renewable jobs

The debate about the future of Australia’s Renewable Energy Target (RET) has largely focused on the issue of immediate costs to business. But if we’re thinking about Australia’s long-term economic interests…
After a promising start to an ambitious economic turn-around program, Prime Minister Shinzo Abe will have more difficulty with tax changes scheduled to come in over the next few years. EPA/Harish Tyagi

Japanese tax hikes loom large for Abenomics

Another record trade deficit for Japan is raising doubts about Prime Minister Shinzo Abe’s “Abenomics” strategy for economic revival. The new figures follow poor manufacturing sentiment numbers earlier…
Singapore’s Marina Bay is viewed as a role model for casino precincts. Slack12/Flickr

Casino precincts and tourism: gambling our way to prosperity?

Last month Queensland Premier Campbell Newman called for expressions of interest to develop a major integrated resort casino precinct within the Brisbane CBD. The vision is for a new casino surrounded…
Big car firms now make huge sums from financial subsidiaries. Martin Rickett/PA

Short-term profit seeking risks the future of manufacturing

In both the US and UK, policymakers have been excited to see a small but significant increase in manufacturing activity and exports. While growth in manufacturing jobs has been sporadic, the creation of…
How does Australia’s economy stack up when compared globally?

FactCheck: how strong is Australia’s economy?

“We have among the lowest of budget deficits and debt to GDP of any other major economies in the developed world… If it’s so bad, Mr Abbott, why have we been given by the three ratings agencies a AAA credit…
The last few years in Australian politics have seen the rise of a new definition of ‘lying’. AAP/Lukas Coch

Redefining the lie: politics and porkies

Lie (v.) (1) To make a politically unpopular statement; (2) [retrospectively applied] To make a statement which appears inconsistent with a more recent statement, indicating that its maker has changed…
Chris Bowen’s mini budget doesn’t tackle the structural problems facing the Australian budget. AAP/Lukas Coch

Bowen’s band-aid mini budget

Chris Bowen, the new Labor Treasurer, has announced the government’s plans for savings and new sources of revenue to meet a budget shortfall with the aim of bring about the elusive budget surplus in 2016/17…
Bearers of bad news: Treasurer Chris Bowen and Finance Minister Penny Wong deliver the government’s economic statement.

Economic statement: experts respond

A slowing economy and drop in government revenue has led to an increased budget deficit, new taxes and some cuts to existing programs. Delivering the Rudd government’s long awaited economic statement…
Chris Bowen and Kevin Rudd are facing the challenge of paying for their new policies while minimising political “nasties”. AAP/Lori Neilsen-Carr

Grattan on Friday: Boats done – the economy’s next on Rudd’s agenda

Now Kevin Rudd has ticked off emissions trading and unveiled his PNG solution on boat arrivals, he’s turning his full attention to trying to neutralise the “debt and deficit” issue. In other words, he’s…
Don’t bust out the champagne yet: not everyone will be able to afford it. Toni Blay

Recovery may not be enough to fix unemployment

With economic “green shoots” appearing, you might expect to see improvements in the labour market, with higher wages and lower unemployment. But don’t get the champagne out just yet: this crisis isn’t…
Competitiveness and productivity are top priorities in Kevin Rudd’s economic policy agenda. AAP

Rudd’s economic blueprint is a timely election pitch to business

Yesterday, Kevin Rudd set about outlining the broad terrain of economic policy to be pursued in this his second stint as Prime Minister. In his speech to the Press Club, the PM highlighted seven core drivers…
How should we measure the size of the Australian economy? AAP

Punching above our weight: sizing up Australia’s economy

Treasurer Wayne Swan recently noted that Australia now has the world’s twelfth largest economy. This suggests it has moved up three places during Labor’s period of office, and regained the three places…

Consumer confidence weak despite rate cuts

Wary consumers are unmoved by recent interest rate cuts and healthy economic figures, according to an index of consumer sentiment that registered a rise of just 0.3% in June to 95.6%. The survey of 1200…
There are more jobs, but even more job seekers. Flickr/Victor1558

Unemployment up, but it’s a good news story

The rise in Australia’s jobless rate for May was “a good news story”, economists said, as the largest increase in full-time jobs in 18 months was offset by an even bigger increase in the number of people…
Managing Director of Google Australia and New Zealand Nick Leeder. AAP/Lukas Coch

Google boss: let internet flourish to boost productivity

The annual $27-billion boost to Australia’s productivity from internet innovation is at threat from policymakers who would rather restrict online access than embrace it, Google’s Australia boss has warned…

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