financial sector

8 February 2019

The funniest thing to come out of the Hayne royal commission is a story that appeared in The Sydney Morning Herald on Monday. Titled “I’m amazed they approved me: CBA lashed for lending to the naive”, the article began as follows. “One victim of irresponsible lending, 24-year-old Georgia Clark, believes the banking royal commission’s recommendations are a missed opportunity to protect the

11 December 2017

Horizontal fiscal equalisation attempts to address differing economic financial circumstances of the state governments by redistributing GST revenue according to an elaborate relativity formula. However, the equalisation mechanism is associated with a number of conceptual and practical problems. There is no justifiable rationale for jurisdictional equalisation, while in practice the process is riddled with uncertainty and complexity. As a consequence

11 December 2017

A new report released today by the Institute of Public Affairs reveals how GST equalisation is creating a class of winners and losers among the Australian states. The report, Time to End GST Redistribution, authored by Morgan Begg, reveals that over the life of the GST, Western Australia has lost $16 billion (22 per cent) of the GST revenue that

30 November 2017

“A Royal Commission into the banking sector is a bad idea because it will not solve the key problems in that sector: too much red tape and a lack of competition,” said Daniel Wild, research fellow with the free market think tank the Institute of Public Affairs. “The quality of Australia’s banking sector will not be improved by a Royal