Graham White

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Tony Abbott is preparing the electorate for his government’s first budget. Julian Smith/AAP

Debt and deficit, levies and taxes: let the real debate begin

Graham White, University of Sydney

The prospect of a “debt” tax or some sort of “deficit levy” to assist with the budget bottom line should prompt a clearer debate about the virtues of raising taxes versus cutting expenditure as a means…
There is an argument that government spending can create economic growth the private sector won’t provide. Image sourced from www.shutterstock.com

Putting the cart before the horse in the debate over fiscal policy

Graham White, University of Sydney

The economic debate during the election period has centred on the costings of the proposed policies of the major parties. Unfortunately what little “debate” we’ve seen has become a bit like a black hole…
How does Australia’s economy stack up when compared globally?

FactCheck: how strong is Australia’s economy?

Fabrizio Carmignani, Griffith University

“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…
Is 5.5% unemployment really so great? It depends on your notion of full employment. Image sourced from www.shutterstock.com

Not just a number: Defining full employment

Graham White, University of Sydney

Political discussion over the current government’s economic record centres on Australia’s unemployment rate of 5.5%. As some commentators have noted, this is better than the average of the last three decades…
What is the “optimal” level of public debt? Persistent deficits do not automatically lead to a situation where the government resembles a household under mortgage stress.

Debts and deficits: why a string of deficits does not necessarily spell the end of the world

Graham White, University of Sydney

The debate about long-term public finance and the role of government is one that is most definitely needed. However, there are two aspects to this debate that are often conflated. First, there is the issue…
Is the impact of a high dollar on sectors such as manufacturing the price we’ve paid to avoid an “overheated” econpmy - or was there another way the RBA could have gone?

Happening upon a silver lining stitched into the hip pocket of the high dollar

Graham White, University of Sydney

In an address to the Australian Industry Group yesterday, Deputy Governor of the Reserve Bank Philip Lowe made a number of interesting remarks regarding recent monetary policy and the difficulties experienced…
The US Federal Reserve has extended its bond-buying program, but will it be effective in boosting the economy? Image from www.shutterstock.com

More money, more problems? The quantitative easing quandary

Graham White, University of Sydney

In an attempt to bolster the economy, the Federal Reserve announced a fresh round of bond purchases to replace Operation Twist, the stimulus program that is set to expire this month. It will spend $US45…
Treasurer Wayne Swan’s Mid-Year Economic and Fiscal Outlook reveals the government’s commitment to deliver a budget surplus for 2012-13. AAP

Swan cuts to save surplus: the experts respond

Gillian Terzis, The Conversation and Sunanda Creagh, The Conversation

The Federal Government will make around $16.4 billion in new savings over the forward estimates to keep the budget in surplus despite a decline in revenue, according to documents released today. Treasurer…
In the aftermath of the Greek elections, there have been renewed calls to accompany austerity measures with pro-growth policies.

Austerity and growth: trying to make sense of a contradiction

Graham White, University of Sydney

Having read that the outcome of the Greek elections points to a continuation of the push for fiscal austerity in that country, my heart sunk. Then I see that our own Prime Minister has been quoted as telling…
Australia’s global competitiveness has slipped, according to a global study: but it is worth exploring some of its assumptions. AAP

World competitiveness rankings: what do they tell us?

Graham White, University of Sydney

The IMD World Competitiveness Rankings released this week are worth reflecting on, not so much because of the relative positioning of various countries - including Australia - but rather because of the…
The Battler’s budget: Will Wayne Swan’s budget help win back an electorate? AAP

Federal budget 2012: expert reaction

Graham White, University of Sydney; Bob Gregory, Australian National University; Gregory Melleuish, University of Wollongong; Hal Kendig, University of Sydney; Jakob Madsen, Monash University; John Quiggin, The University of Queensland; John Wanna, Australian National University; Michael Rafferty, University of Sydney; Nick Economou, Monash University, and Warwick J. McKibbin, Australian National University

Labor has made a $5 billion pitch to true-believers with a $1.5 billion surplus, cash hand-outs and tax breaks for low- and middle-income earners in the federal budget. And the opinion-makers are on the…
As the government scrambles to balance the books, the business community has voiced its fears that Treasurer Wayne Swan will renege on his promise of a 1% reduction in the corporate tax rate. AAP

Corporate tax cuts at risk ‑ but are they really required?

Graham White, University of Sydney

In the last 24 hours, we have heard mutterings about the possibility that an earlier commitment to cuts in the corporate tax rate may not go ahead in the budget. Some in the business community have, unsurprisingly…
“And then there’s this…” Will there be any surprises in store for this year’s budget? AAP

Wish list for Wayne Swan: what the experts want from the budget

Simon Marginson, The University of Melbourne; Graham White, University of Sydney; John Vaz, Monash University; Michael Rafferty, University of Sydney, and Paula Lorgelly, Monash University

Federal Treasurer Wayne Swan will be busy tonight handing down the Federal Budget with all the policy settings we’ll need to ensure Australia’s future prosperity (and not simply as a re-election platform…
Given the RBA’s decision to slash the cash rate by 50 basis points, it’s hard to justify Treasurer Wayne Swan’s pursuit of a budget surplus. AAP

Cutting rates, then tightening fiscal policy? Trying to make sense of the quest for a surplus

Graham White, University of Sydney

The former Governor of the Reserve Bank, Bernie Fraser, hit the nail on the head the other night when he found it absurd that the Reserve Bank could be reducing interest rates one day, while a week later…
Political, rather than economic: economists say there is no direct link to surpluses and lower interest rates. AAP

Can surpluses lead to lower interest rates?

Graham White, University of Sydney; Sinclair Davidson, RMIT University, and Tim Battin, University of New England

The Federal Government is continuing its pre-budget surplus sell, with Prime Minister Julia Gillard directly linking its plans to return the budget to surplus to lower interest rates. Gillard will use…
The ability of our politicians to achieve a surplus or balance the budget is spuriously taken as a measure of fiscal responsibility. AAP

Returning to surplus: the policy wall our politicians can’t see over

Graham White, University of Sydney

The Federal Government’s quest to return the budget to surplus raises many questions and not just about what immediate rationale there is on economic grounds for this strategy. It also raises deeper questions…

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