Category Archives: Treasury

Harry gets mugged by reality

I’ve tried to be generous to the Gillard Government because of the overly critical reaction to it by the Murdoch press – by Ergas, Sloan and the hired lackeys of the IPA etc. But the way the superannuation issue has … Continue reading

Posted in 2013 election, Treasury | 72 Comments

Sauce for the gander: superannuation taxes on bureaucrats

Superannuation withdrawals were made tax free in 2006 by Peter Costello. Labor stalwarts, Bill Kelty, Garry Weaven and Nick Sherry were major architects of the Keating superannuation measures and Weaven remains a key player.  They are all campaigning against the … Continue reading

Posted in Federal Politics, Treasury | 118 Comments

What is the 'medium-term'?

The Government’s medium-term fiscal strategy is outlined in Budget Paper 1, most recently released last May. It states The Government’s medium?term fiscal strategy is to: achieve budget surpluses, on average, over the medium term; keep taxation as a share of … Continue reading

Posted in Budget, Treasury | 6 Comments

Quotas in Treasury

Adam Creighton has an interesting article which cogently argues against quotas. Let’s take one example: Treasury has an objective for 35 per cent of its senior executives to be women by 2016. According to the 2011-12 annual report, there were 80 … Continue reading

Posted in Treasury | 33 Comments

The failures of models

Many years ago I started as a macroeconomic modeller and forecaster. After a few years, I became disillusioned with the tool and methodologies followed, which were often naive and pedantic. In particular I came to the conclusion that forecasting was … Continue reading

Posted in Economics and economy, Treasury | 31 Comments

Treasury Oblivious to Senate Grilling

Last week the Senate Scrutiny of New Taxes Committee examined the carbon tax. Treasury and the Department of Climate Change sent their finest (well Treasury Secretary Parkinson managed to vote absent) and proceedings were rounded off by Henry Ergas, John … Continue reading

Posted in Treasury | Tagged , , | 5 Comments

Put down your gun: 'consensus' in economics

I have this piece over at the Drum: the readers don’t seem to like me (sigh) which is not entirely surprising.  But what the heck, I say.  I belong to one of those professions for which there is supposedly a … Continue reading

Posted in Mining Tax, Treasury | 33 Comments

Put down your gun: ‘consensus’ in economics

I have this piece over at the Drum: the readers don’t seem to like me (sigh) which is not entirely surprising.  But what the heck, I say.  I belong to one of those professions for which there is supposedly a … Continue reading

Posted in Mining Tax, Treasury | 33 Comments

Treasury assumption: International carbon markets

A crucial assumption underpinning the Treasury modelling into the carbon tax is the existence of international markets for carbon permits. Henry Ergas has made this point very forcefully and he is exactly correct. The government, through Lenore Taylor, have tried … Continue reading

Posted in Treasury | 4 Comments

Carbon tax assumptions: international permits

As Henry points out below the Treasury carbon tax modelling makes several assumptions. Nothing wrong with that – all modelling makes assumptions. What is important, however, is the sensitivity of the modelling to variations in the assumptions. The assumption about … Continue reading

Posted in Treasury | 8 Comments