In the dark? Ignoring revenue has stymied Australia’s budget debate. Shutterstock

Without revenue, Australia can only have half a budget debate

The missing element in this week’s mid-year economic and fiscal outlook, and more broadly, in current government policy, stares Australians in the face. Revenue needs to be increased. Increasing taxes…
Treasurer Joe Hockey is expected to report this month that the budget balance is deteriorating in his mid-year economic and fiscal outlook. Alan Porritt/AAP

Australia needs higher taxes, not spending cuts

The federal budget balance is expected to deteriorate. The reasons are numerous but, in a lengthy statement, the government sums it up in terms of two key factors. These are: the softer economic outlook…
Taxing mining: too high, and it discourages foreign capital inflow. But political lobbying can also mean it is set too low. AAP

Max Corden on taxing mining, tackling Dutch Disease and depreciating the dollar

The mining boom is making Australia potentially wealthier, but also creating problems because of the high exchange rate. What should government policies be? There are two issues, and it is very important…

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