Posted: 8:00 am on 14th May 2012
The Gillard government has reneged on its promise to reduce the corporate tax rate by 1% – a cut that was part of the package to secure the Minerals Resource Rent Tax (MRRT). Although this backflip will surely anger the business community, there are far bigger problems affecting the bottom lines of Australian businesses. Many small business owners cite a strong dollar, growing regulatory burden, and inflexible labour laws as…
Posted: 8:00 am on 2nd May 2012
The global financial crisis, whatever its causes, has undoubtedly resulted in massive economic costs in the form of foregone output. The financial and regulatory reforms discussed above are intended to make crises less likely in the future and less severe when they do happen. This is a worthy goal, but it needs to be tempered by realism. As RBA Governor Glenn Stevens said, ‘Finance has its own cycle—of risk appetite,…
Posted: 8:00 am on 20th March 2012
Should an employer be forced to negotiate with a union? And under what circumstances, if any, should the state be permitted to intervene in the employer-employee relationship? Cochlear’s management has been negotiating with its employees on a non-union basis. Many of its workers are women and are from non-English speaking backgrounds such as Chinese, Vietnamese, Cambodians and the Filipinos. Management has been under increased pressure from the Australian Manufacturing Workers…
Posted: 8:00 am on 26th February 2012
The wheels of justice grind slowly, but perhaps even more so in Australia. Comparing the speed of Fair Work Australia’s investigation into Labor backbencher Craig Thomson to a snail’s pace is unfair to common molluscs. Following the three-year-long inquiry into Thomson’s alleged misuse of a union credit card is rather like watching tectonic plates drift. Does it really need to be this way? Is this how such affairs should be…
Posted: 8:00 am on 20th February 2012
On Monday, The Australian reported that struggling car manufacturer GM Holden had agreed to give its employees a substantial pay rise of up to 22% over the next three years. This was surprising coming from a company that depends on ongoing taxpayer support for its survival. However, after decades of car industry subsidies, the public has almost become used to such scandalous behaviour. It is easy to criticise Holden’s pay…
