Joe Hockey has come away from his discussions in the United States more optimistic about the global outlook, even if there are worries over Greece. Having attended G20, International Monetary Fund and ...
The Abbott government has been accused of using "weasel words" when it comes to returning the budget to surplus. Treasurer Joe Hockey insists he has never put a date on returning to the black. Opposition Leader Bill Shorten says that's "more weasel words". Mr Hockey reiterated that his May 12 budget would not be chasing down lost revenue from the steep fall in the iron ore price, but it will be trying to do everything that can be done to speed up the economy and create jobs.
Treasurer Joe Hockey believes it is better to show "a quality trajectory" back to a budget surplus than put a date on it. Mr Hockey has reiterated that his May 12 budget won't be chasing down huge revenue losses from a fall in the iron ore price, but it will be doing everything possible to speed up the economy and create jobs.
A Labor frontbencher says Treasurer Joe Hockey should have been in the cabinet room last week rather than enjoying his jaunt in the United States that included ringing the bell at the end of trading on the New York Stock Exchange. Mr Hockey was in the US for G20, the International Monetary Fund and the World Bank, gatherings the treasurer says will help him form his May 12 budget.
Treasurer Joe Hockey says he is not about to impose a new tax to combat profit-shifting by multinational companies but he is looking to tighten taxation rules with the help from the British government. Mr Hockey and British Chancellor of the Exchequer George Osborne agreed at last week's G20 meeting in Washington to set up a working group after the British election to tackle tax avoidance by big global companies. Australia is looking to learn from the UK's experience of introducing a diverted profits tax at the beginning of April, commonly known as the "Google tax". "Australia does not need to impose a new tax but certainly there are ways we can beef up the integrity measures around our own taxation system," Mr Hockey told ABC television.
Australia is providing $25 million to a global infrastructure facility run by the World Bank. The facility aims to promote greater private sector investment in the infrastructure of emerging markets and developing countries, Treasurer Joe Hockey and Foreign Minister Julie Bishop said in a statement on Sunday. "The strong partnership between the Australian government and the World Bank ... underscores our commitment to lift investment in global infrastructure, a critical component to ensuring economic growth and poverty alleviation," they said.
Australia and the UK are forming a joint working group to tackle profit-shifting by multinational companies, Treasurer Joe Hockey says. The agreement secured between Mr Hockey and British Chancellor of the Exchequer George Osborne during last week's G20 meeting will build on the UK's experience of introducing a diverted profits tax at the beginning of April, commonly known as the "Google tax". "This is a global issue that needs to be quickly addressed and as such the working group will be open to all G20 members," Mr Hockey said in a statement on Sunday.
The Group of 20 countries have criticised the United States for blocking reforms to both expand the International Monetary Fund's resources and give China and other rising economies more say in the crisis lender's governance. Meeting on the sidelines of the US-based IMF's twice yearly meetings, the finance ministers and central bank governors of the world's leading advanced and emerging economies said they "remain deeply disappointed with the continued delay" in implementing the IMF reforms agreed in 2010.
Retailers are being praised for respecting the use of the word Anzac this year.
The Queensland government has forfeited economic and tourism boosts for the state's far north by dumping plans for a Cairns cruise ship terminal, the opposition says. Labor on Saturday released a draft Environmental Impact Statement (EIS) related to the proposal and said it illustrated the former LNP government's "complete disdain for Queensland's environment". One of the most contentious aspects of the plan was the planned dumping of dredge spoil either at land or in waters near the Great Barrier Reef. "This is another short-sighted, knee-jerk reaction from a Government making it up as they go," opposition spokesman for infrastructure Tim Nicholls said.
Plans to dredge a far north Queensland inlet for a potential cruise ship terminal have been abandoned by the state government on environmental and financial grounds. Treasurer Curtis Pitt has released a draft Environmental Impact Statement (EIS) on the proposal, which could have involved dumping Cairns Port dredge spoil on waters near the Great Barrier Reef.
Dairy farmers are being urged to prepare for the reality of the drop in milk prices as a tough season looms ahead.
Whitehaven Coal expects coal prices won't start to pick up until 2016. The company behind the controversial Maules Creek mine in NSW has lifted its full year production target to 7.2 million tonnes, from 7.0 million tonnes, after a boost in March quarter production. Whitehaven expects that price to fall to a range of US$75 to US$80 per tonne in the June quarter.
THE HOUSING DOWNTURN IN AUSTRALIA'S MINING TOWNS BLACKWATER (QLD) Median house price: $210,000 Down 38 pct in year to Feb Forecast for 2015: Down 15 pct MORANBAH (QLD) Median house price: $240,000 Down ...