Money: RBA urges government to boost economy - PressFrom - Australia
  •   
  •   

MoneyRBA urges government to boost economy

00:01  04 july  2019
00:01  04 july  2019 Source:   crikey.com.au

'Economically irresponsible': Labor won't back Coalition's full $158b tax plan

'Economically irresponsible': Labor won't back Coalition's full $158b tax plan The opposition will instead ask the Coalition to accelerate part of stage two of the cuts and defer consideration of stage three to a later sitting of Parliament.

The RBA has made a rare public appeal to the Morrison government to do more to boost a sliding economy after it sliced official interest rates to one of RBA governor Philip Lowe: "We will achieve better outcomes for society as a whole if the various arms of public policy are all pointing in the same

Philip Lowe urges government to invest in infrastructure after bank cut official interest rates to record low of 1%. The RBA on Tuesday cut the official cash rate to a fresh record low 1% and left the door open for another before Christmas as global trade uncertainty and low wage growth continues to

RBA urges government to boost economy© Provided by Private Media Operations Pty Ltd. Philip Lowe RBA 2018 economic data housing prices unemployment income

MR FRYDENBERG, BOOST THIS ECONOMY

The Reserve Bank has called on the government to do more to boost the economy, The Age and SMH report.

The RBA cut interest rates to a record low of 1% yesterday, with governor Philip Lowe saying that the country should “not rely on monetary policy alone” and urging treasurer Josh Frydenberg to increase federal spending. Labor has used the rate cut to call for stage two of the government’s tax cuts to be brought forward, claiming it shows a “floundering” economy in need of stimulus.

Has Australia's Prime Minister Really Got What It Takes to Fix the Economy?

Has Australia's Prime Minister Really Got What It Takes to Fix the Economy? Conservatives hailed Australia’s Prime Minister Scott Morrison a hero after he won a surprise third term for his government. Now the hard work begins to revive a stalling economy. As parliament resumes Tuesday for the first time since the election, Morrison will look to pass sweeping income-tax cuts that anchored the small-target platform he rode to victory on May 18. He’s also pledged to cut red tape and take a fresh look at industrial relations, including cracking down on law-breaking union officials. Scott Morrison waves with his family during the election night event on May 18.

Reserve Bank Governor Philip Lowe has repeated his call for the government to support the economy with fiscal stimulus such as infrastructure Reserve Bank Governor Philip Lowe says it is "unrealistic" to expect a lower cash rate to boost growth on its own and has repeated his call for the

Reserve Bank of Australia ( RBA ) Governor Philip Lowe has highlighted the importance of infrastructure spending in boosting employment growth and economy -wide demand, emphasizing monetary policy alone cannot do all the heavy lifting.

Of the big four banks, only ANZ passed on the 0.25% rate cut in full, with CBA, NAB and Westpac reducing home loan interest rates by 0.19-0.2%.

TAX CUTS PASS HOUSE

Labor voted for the government’s full $158 billion tax cut package in the lower house last night. Leader Anthony Albanese told The New Daily that the decision to support the legislation in the house was procedural, with the party planning to pursue its amendments in the Senate.

Finance Minister Mathias Cormann successfully moved that the Senate sit until the tax cuts were passed, which was supported by Jacqui Lambie and Centre Alliance — a good sign for the Coalition. Labor is reportedly talking to crossbench senators to seek support for its amendments.

DUELLING INQUIRIES

Cabinet has signed off on a decision to establish an inquiry into press freedom ($), The Australian reports. The move follows Kristina Keneally’sannouncement that Labor would move to establish a “Joint Select Committee into the Public’s Right to Know and Press Freedom” in the Senate on Thursday, accusing the government of “doing nothing”.

Here's what the government's tax cuts will mean for you

Here's what the government's tax cuts will mean for you If passed, the government's tax package will bring up to $1080 in tax relief to low and middle-income earners when they lodge their tax returns in coming months. Australians earning between $48,000 and $90,000, who have lodged a tax return already, could get the money by next week if the package is passed by the Senate. Nine finance editor Ross Greenwood said the government is hoping people will be spending the extra money once it hits their bank accounts. “People should be using this money and spending it, because remember people have big bills,” he told Today.

The forecast for Russia's economic development in the medium term should be brought into line with the government 's plan of action, Russian According to him, new federal agencies and services "should provide conditions for the effective work of the government and the economy as a whole".

Opposition urges Coalition to bring forward tax cuts after Reserve Bank slashes interest rates to a record low of 1

Scott Morrison is planning to ask Anthony Albanese to endorse the government’s inquiry, while united media bosses have dismissed the need for one, arguing that “the evidence is in”. Media representatives will meet with ­Attorney-General Christian Porter today discuss proposed reforms.

THEY REALLY SAID THAT?

I’ve been disturbed about this issue. The government should be absolutely ashamed of the way they’ve manipulated this. The hypocrisy, misrepresentation, attempt at scaremongering on the basis of what is a very significant issue.

John Hewson

The former Liberal Party leader slams the governments handling of medivac on ABCs The Drum.

NAB warns tax cuts won't deliver much economic boost.
National Australia Bank says the economic boost from the Government's tax cuts is likely to be very small, and more infrastructure spending is urgently required.

—   Share news in the SOC. Networks

Topical videos:

usr: 0
This is interesting!