Treasurer


Labor given steer on how to target the truly rich

Labor given steer on how to target the truly rich

“That would target wealthy people while leaving unharmed people like my mother, who was above a pensioner but the impact of the change would be that she would earn less money than a pensioner.”If it wins the next federal election, Labor will make franking credits non-refundable for everybody except those who qualify for a Centrelink…


PM warns of a recession under Labor

PM warns of a recession under Labor

​Pressed afterwards over whether he was claiming Labor would bring on a recession, Mr Morrison said:”I’m saying the economy will be weaker under Labor – that’s exactly what I’m saying, because they’re going to put $200 billion worth of taxes and take Australia’s industrial relations system back to the times when we had recessions in…



Labor wants new bank levy to boost compensation scheme

Labor wants new bank levy to boost compensation scheme

The retreat, as revealed by The Australian Financial Review, is a reversal of Labor’s initial position which was to support the recommendation that the borrower, not the lender, pay. Labor will back the current arrangement in which the lender pays.Treasurer Josh Frydenberg said Labor had been humiliated.”It doesn’t matter what Labor say they will do…


Labor’s big stick on the banks: Name, shame and front up to parliament

Labor’s big stick on the banks: Name, shame and front up to parliament

Labor initially supported Commissioner Kenneth Hayne’s recommendation to phase in changes over time so the borrower, not the lender, pays the up-front fee to the broker.The government opposes this recommendation and Labor has softened its language in recent weeks, promising to fully consult on any change and do it slowly.’Reckless’ to rushOn Tuesday, Labor stepped…




Banking royal commission: A Graeme Samuel storm is about to hit APRA

Banking royal commission: A Graeme Samuel storm is about to hit APRA

Nor is he afraid to lose friends – as evidenced by Samuel’s willingness to pursue a criminal prosecution case against the chair of Visy, the late Dick Pratt, for cartel behaviour while Samuel was head of the Australian Competition and Consumer Commission. More recently, he has been dive-bombing Australian airports as chair of the airlines…


APRA defends its housing market intervention

APRA defends its housing market intervention

While the 25-page ‘information paper’ was a response to the Productivity Commission’s call last year for APRA to be more transparent about its decision-making, the regulator used it to rebuff the PC’s harsh critique, which described APRA’s policies as a ‘”blunt intervention with detrimental effects on market competition”.The prudential regulator rejected any suggestion it had…