The federal Treasurer spent this week claiming government spending was not a factor in the RBA’s decision to lift rates. The bank’s boss says there is a link.
With Anthony Albanese open to possible changes to the capital gains tax discount,this is the treasurer’s best opportunity to shift the dial.
The government is mulling a change to the capital gains tax concession. New analysis shows that without change,it will cost the budget $250 billion.
Restoring basic capacity is not profligacy;it is delayed maintenance.
The government is considering winding back the capital gains tax concession as part of a broader change to taxes in the May budget.
When the Reserve Bank cut interest rates last year,most borrowers did not reduce their repayments. That may save them from the pain of this week’s rate increase.
Opinions differ on the impact of government spending,but Australians have little idea how they affect interest rates
The government is under pressure to rein in spending and rev up the economy,or,as one expert warns,the nation may have “bigger problems than an interest rate rise”.
The May budget now shapes as an enormous test for Treasurer Jim Chalmers and Prime Minister Anthony Albanese.
After a question from Nationals leader David Littleproud,Treasurer Jim Chalmers comments on his new seat on the backbench.