Australian Treasurer Joe Hockey is optimistic his second budget will restore confidence through tax cuts and a path back to surplus. Business groups aren’t so sure and say the central bank will need to keep an easing bias. Small businesses will gain a 1.5 percentage point tax cut and can instantly claim a deduction for […]
Business Groups: Onus Back on RBA after Federal Budget Read More »
Australian Treasurer Joe Hockey has thrown $5 billion of tax relief at small business and farmers and given $4.4 billion in support for families to stimulate the economy and kickstart the coalition’s electoral hopes. “This is a budget that unleashes our nation’s potential,” the Treasurer declared as he delivered his second budget on Tuesday. A
Treasurer Hockey’s Budget for Road to Recovery Read More »
Consumer confidence rose last week after the Reserve Bank of Australia cut the official cash rate to a new historic low. Confidence jumped 1.7 per cent in the week ending May 10, after falling 2.8 the previous week, ANZ/Roy Morgan’s consumer confidence barometer found. ANZ chief economist Warren Hogan said the RBA’s decision to cut
Consumer Confidence Jumps after RBA Cut Read More »
Australia’s government budget deficit will undershoot market forecasts and keep improving over time, Treasurer Joe Hockey said – just hours before delivering his annual policy package. Speaking to the media, Hockey said the market was forecasting a shortfall of around A$40-A$41 billion but the actual deficit would “beat that”. Hockey said the government had been
Hockey: Australian Budget on a Credible Trajectory Back to Surplus Read More »
