Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

Politics

Budget week brings inflation updates, electricity rebates for households

Federal budget offers $150 electricity rebates amid declining inflation, but challenges remain for Australia’s fiscal stability.

Published

on

Federal budget offers $150 electricity rebates amid declining inflation, but challenges remain for Australia’s fiscal stability.

In Short

Inflation worries Australians, but the federal budget will offer $150 rebates on electricity bills.

Although inflation rates have decreased, the Reserve Bank of Australia anticipates a rise due to expiring subsidies and cautious spending concerns.

Inflation remains a concern for Australians, but federal budget announcements are set to provide some cost-of-living relief.

Every household will receive a $150 rebate on electricity bills in the upcoming budget update.

Inflation rates have decreased significantly since their peak in late 2022, with the consumer price index (CPI) expected to drop to 2.4 per cent according to the Australian Bureau of Statistics.

This decline has been partially driven by government electricity subsidies, which are set to expire at the end of June.

The Reserve Bank of Australia predicts that this will lead the CPI to rise again to 3.7 per cent by the end of 2025.

The Reserve Bank is more focused on the trimmed mean inflation, which is expected to stabilize at 2.7 per cent despite the eventual headline increase.

NAB analysts argue that the Reserve Bank may be too cautious in its inflation outlook, believing the current situation supports gradual easing of interest rates.

Moreover, inflation has helped increase tax revenues, contributing to a reduction in the federal budget deficit for 2024/25.

However, there are concerns that increased public spending could exacerbate existing demands, particularly as productivity growth remains weak and global risks loom.

Australians will vote by May 17, leading to potential shifts in fiscal policy.

In the markets, slight gains were noted on Wall Street, while Australian share futures declined.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

Continue Reading

Politics

Small business tax cut boosts economy, creates jobs

COSBOA: Small business tax cut could boost Australia’s economy by $11.4 billion and create 3,370 permanent jobs.

Published

on

COSBOA: Small business tax cut could boost Australia’s economy by $11.4 billion and create 3,370 permanent jobs.

In Short

COSBOA’s economic modelling suggests that reducing the small business tax rate from 25% to 20% could boost the economy by $11.4 billion and create around 3,370 jobs.

CEO Luke Achterstraat urges major parties to adopt this fiscally prudent proposal, which could enhance cash flow, innovation, and overall economic growth for small businesses.

Economic modelling by the Council of Small Business Organisations Australia (COSBOA) indicates a reduction in the small business tax rate from 25% to 20% could enhance the economy by up to $11.4 billion and create approximately 3,370 permanent jobs.

COSBOA’s CEO, Luke Achterstraat, described the tax cut as “fiscally prudent” and beneficial for economic policy, noting it could stimulate cash flow and business growth.

Achterstraat stressed the importance of this proposal for small businesses, emphasising that it would lead to increased economic growth, innovation, and productivity. He explained that the modelling suggested the GDP could rise by $10 for every $1 lost in tax revenue, resulting in significant economic benefits and minimal budget impact.

Adopt the policy

As the 2025 election campaign progresses, Achterstraat called on major parties to consider adopting the policy, highlighting its potential to support small businesses, particularly following challenges from the GFC and Covid-19.

The modelling evaluated three scenarios for tax reduction implementation: an immediate cut in 2025-26, a phased approach to 2027-28, and another to 2029-30. Each scenario showed substantial benefits for small business cash flow, investment, and job creation.

Under the immediate reduction scenario, Australia’s GDP could increase by about $11.4 billion over five years, with net gains of roughly $10 for each $1 of lost revenue. This tax cut could provide essential relief for small businesses, allowing them to focus on their operations and community service.

Continue Reading

Politics

Newspoll steady as both leaders’ ratings fall

Published

on

Newspoll steady as both leaders’ ratings fall; Labor surging in poll of marginal seats

Adrian Beaumont, The University of Melbourne

With less than two weeks to go now until the federal election, the polls continue to favour the government being returned.

Newspoll was steady at 52–48 to Labor, but primary vote changes indicated a gain for Labor as both leaders dropped on net approval. A Redbridge marginal seats poll had Labor gaining two points since the previous week for a 54.5–45.5 lead, a 3.5-point swing to Labor in those seats since the 2022 election.

A national Newspoll, conducted April 14–17 from a sample of 1,263, gave Labor a 52–48 lead, unchanged on the April 7–10 Newspoll. Primary votes were 35% Coalition (steady), 34% Labor (up one), 12% Greens (steady), 7% One Nation (down one) and 12% for all Others (steady).

In the last two Newspolls, Labor has been a little lucky to get a 52–48 lead as this would have been given by 2022 election preference flows, and Newspoll is making a pro-Coalition adjustment to One Nation preferences. This time the 2022 election flow method would give Labor about a 53–47 lead.

This Newspoll is the only new national poll since Friday’s update. The fieldwork dates were nearly the same as for the Freshwater poll that had Labor ahead by just 50.3–49.7 (April 14–16 for Freshwater). Other polls indicate that Freshwater is likely the outlier. Here’s the Labor two-party vote chart.

In-person early voting begins on Tuesday ahead of the May 3 election, so there isn’t much time for the Coalition to turn around their deficit, if the polls are accurate.

Anthony Albanese’s net approval in Newspoll was down five points to -9, with 52% dissatified and 43% satisfied. Peter Dutton’s net approval was down three points to -22, a record low for him. Albanese led Dutton as better PM by 52–36 (49–38 previously). This is Albanese’s biggest lead since May 2024.

Here’s the graph of Albanese’s net approval in Newspoll this term. The plus signs are data points and a smoothed line has been fitted.

Albanese and Labor were preferred to Dutton and the Coalition on helping with the cost of living by 31–28. Labor also led on dealing with uncertainty caused by Donald Trump (39–32), lowering taxes (33–26) and helping Australians buy their first home (29–24). The Coalition led on growing our economy by 34–29.

For so long, it had appeared that the cost of living issue would sink Labor at this election, so this result will please Labor.

Labor surges further ahead in Redbridge marginal seats poll

A poll of 20 marginal seats by Redbridge and Accent Research for the News Corp tabloids was conducted April 9–15 from a sample of 1,000. It gave Labor a 54.5–45.5 lead, a two-point gain for Labor since the April 4–9 marginal seats poll. Primary votes were 35% Labor (steady), 34% Coalition (down two), 14% Greens (up two) and 17% for all Others (steady).

The overall 2022 vote in these 20 seats was 51–49 to Labor, so this poll implies a 3.5-point swing to Labor from the 2022 election. If applied to the national 2022 result of 52.1–47.9 to Labor, Labor would lead by about 55.5–44.5. Since the first wave of this marginal seats tracker in early February, Labor has gained 6.5 points.

Albanese’s net favourability improved three points since last week to -5, while Dutton’s slumped six points to -22. By 36–26, voters thought Albanese and Labor had better election promises for them than Dutton and the Coalition.

By 56–13, voters agreed with Labor’s attack line that Dutton’s nuclear plan will cost $600 billion, and he will need to make cuts to pay for it. By 42–16, voters agreed with the Coalition’s attack line that this is the highest spending government in the past 40 years.

Additional Resolve questions and a right-wing poll of Wentworth

I previously covered the April 9–13 Resolve poll for Nine newspapers that gave Labor a 53.5–46.5 lead. Asked their biggest concerns about voting Labor, 47% said cost of living (down five since February), 36% economic management (down nine), 31% lack of progress in their first term (steady), 27% union ties (up two) and 24% Albanese’s personality (down six).

Asked their biggest concerns about voting for the Coalition, 45% said Dutton’s personality (up ten), 36% lack of policy detail (up eight), 34% that the Coalition would follow Donald Trump’s example (up six), 32% the performance of the Scott Morrison government (up four) and 31% their nuclear power plan (up five).

The February Resolve poll was the 55–45 to Coalition outlier, so responses in the prior survey were probably too Coalition-friendly.

The Poll Bludger reported Saturday that a seat poll of Wentworth, which teal Allegra Spender holds by a 55.9–44.1 margin over the Liberals after a redistribution, gave the Liberals a 47–28 primary vote lead over Spender with 15% for Labor and 10% for the Greens. This poll was taken by the right-wing pollster Compass.

Canadian election and UK local elections

I covered the April 28 Canadian election for The Poll Bludger on Saturday. The centre-left governing Liberals are down slightly since my previous Poll Bludger Canadian article on April 10, but are still likely to win a parliamentary majority. Debates between four party leaders occurred Wednesday (in French) and Thursday (in English), and we’re still waiting for post-debate polls.

United Kingdom local elections and a parliamentary byelection will occur on May 1. Current national polls imply that the far-right Reform will gain massively, with the Conservatives and Labour both slumping. Two seat polls give Reform a narrow lead over Labour for the parliamentary byelection in a safe Labour seat.

Adrian Beaumont, Election Analyst (Psephologist) at The Conversation; and Honorary Associate, School of Mathematics and Statistics, The University of Melbourne

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Continue Reading

Politics

Trump pushes trade talks with Japan and Europe amid tariff turmoil

Trump engages directly in global trade negotiations, claiming “Big Progress” as tariffs reshape markets, but urgency looms for substantive results amid cautious responses from Japan and the EU.

Published

on

Trump engages directly in global trade negotiations, claiming “Big Progress” as tariffs reshape markets, but urgency looms for substantive results amid cautious responses from Japan and the EU. #Trump #TradeTalks #GlobalEconomy


President Trump is taking a direct role in global trade negotiations as U.S. tariffs reshape global markets. Meeting with leaders from Japan and Italy, Trump claims “Big Progress” on new trade agreements.

But with Japan cautious and the EU pausing retaliation, the pressure is on for meaningful results. How urgent is a deal for the U.S. economy?

Can Trump’s hands-on approach deliver outcomes or cause friction?

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#Trump #TradeTalks #USJapan #Tariffs #GlobalEconomy #Politics #TickerNews #TradeWar

Continue Reading

Trending Now