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Pssst, don’t tell Kevvie Rudd or Wayne Swan yet, but there’s a growing chance they can take their foot off the stimulus pedal a bit more and relax; the economy seems to be gathering pace. Full Article at Crikey
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But Rudd’s real problem is that his government’s climate change policy is incoherent and is becoming ever more expensive. Rudd has had good mileage criticising markets over the past year. Full Article at Catallaxy
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This combo photo shows Australian Prime Minister Kevin Rudd (L) talking at a function at Government House in Sydney on April 17, 2009, Treasurer Wayne Swan (C) attending the Australian Labor Party's first caucus meeting in Canberra on November 29, 2007... View Photo »
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If we were to simply withdraw stimulus that would pull the rug out from under recovery and that would result in far higher unemployment
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Wayne Swan maintains it's not the place of finance ministers to make the final decision on funding. Full Article at ABC Online
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The desire to reform the tax system is a magnet for treasurers. John Howard hankered to do it when he had the job but had to wait until he was PM. Paul Keating got part of the way but not as far as he'd wanted. Full Article at The Age
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PM Kevin Rudd and Deputy PM Julia Gillard in a special meeting of Cabinet at Parliament House in Canberra. Full Article at The Australian
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Australia's Finance Minister Wayne Swan arrives prior to the G20 Finance Ministers meeting at a hotel near Horsham, in southern England March 13, 2009. View Photo »
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When the government borrows and spends with the Paris Hilton-type recklessness of Kevin Rudd and Wayne Swan then inevitably they are going to raise taxes to pay for it
SOURCE: The Age -
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DECLARING that ''nobody is doing victory laps'' the Treasurer, Wayne Swan, and other finance ministers from the 20 richest nations have vowed to keep in place emergency stimulus measures for some time to come. Full Article at Sydney Morning Herald
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The Prime Minister and Wayne Swan had a stab at this late last week by talking up tax reform and lashing the government's climate change critics. Full Article at The Australian
About Wayne Swan
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This combo photo shows Australian Prime Minister Kevin Rudd (L) talking at a function at Government House in Sydney on April 17, 2009, Treasurer Wayne Swan (C) attending the Australian Labor Party's first caucus meeting in Canberra on November 29, 2007 and the then chairman of the Austr...
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Australia's Finance Minister Wayne Swan arrives prior to the G20 Finance Ministers meeting at a hotel near Horsham, in southern England March 13, 2009.
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Australian Treasurer Wayne Swan gestures during a news conference at Parliament House in Canberra March 4, 2009.
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Australian Treasurer Wayne Swan gestures during a news conference at Parliament House in Canberra March 4, 2009.
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Australian Treasurer Wayne Swan gestures during a news conference at Parliament House in Canberra March 4, 2009.
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Australian Treasurer Wayne Swan gestures during a news conference at Parliament House in Canberra March 4, 2009.
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Australia's Finance Minister Wayne Swan arrives to attend the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland November 6, 2009.
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British Chancellor of the Exchequer Alistair Darling (L) is followed by Dutch Finance Minister Wouter Bos (2nd L), Australian Treasurer Wayne Swan and Jean-Claude Trichet (R), President of the European Central Bank (ECB), after a group photo at the G20 Finance Ministers summit in London...
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The President of the World Bank, Robert Zoellick (R) and Australia's Treasury Minister, Wayne Swan, arrive for the dinner of the G20 Finance Ministers' meeting at the Guildhall in the City of London, September 4, 2009.
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Australia's Finance Minister Wayne Swan arrives at Chatham House to give a speech, prior to attending the G20 Finance Ministers' meeting in London September 4, 2009.
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SYDNEY, AUSTRALIA - AUGUST 21: Australian Australian Prime Minister Kevin Rudd (2nd L) shares a laugh with treasurer Wayne Swan (L) and other members of his cabinet at the Heritage Centre at Garden Island Naval Base on August 21, 2009 in Sydney, Australia.
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SYDNEY, AUSTRALIA - AUGUST 21: Treasurer Wayne Swan arrives for a joint cabinet meeting with visiting New Zealand Prime Minister John Key and Kevin Rudd at the Heritage Centre, Garden Island durring the first day of Key's visit to Sydney on August 21, 2009 in Sydney, Australia.
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Australia's Deputy Prime Minister Julia Guillard is seen at the Australia's Labor Party conference at Darling Harbour in Sydney July 31, 2009.
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Demonstrators holding banners leave the Australia's Labor Party conference at Darling Harbour in Sydney July 31, 2009. The Australian government has to be "firm" in framing its next two budgets, but the economy still needs some stimulus, Treasurer Wayne Swan said on Thursday.
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Demonstrators hold banners and shout slogans against the government outside the Australia's Labor Party conference at Darling Harbour in Sydney July 31, 2009.
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Australia's Treasurer Wayne Swan addresses the Australia's Labor Party conference at Darling Harbour in Sydney June 30, 2009. The Australian government has to be "firm" in framing its next two budgets, but the economy still needs some stimulus, Treasurer Wayne Swan said on Thursday.
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This file photo taken on June 21, 2009 shows Australian Federal Treasurer Wayne Swan arriving at the South Lodge Hotel in Horsham, West Sussex, ahead of the G20 Finance Ministers Meeting.
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This file photo taken on November 8, 2008 shows Australian Treasurer Wayne Swan attending the G20 Ministers and Central Bank Governors' meeting in Sao Paulo.
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The morning front pages in Melbourne's papers on May 13, 2009 show their reaction to the government unveiling a 57.6 billion-Australian-dollar (44.1 billion USD) deficit for 2009-10 in the budget.
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Australia's Treasurer Wayne Swan gestures during a news conference at Parliament House in Canberra, before the release of the 2009/2010 national budget May 12, 2009.
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Australia's Treasurer Wayne Swan delivers the 2009-2010 national budget at Parliament House in Canberra as Prime Minister Kevin Rudd (L) gestures behind him May 12, 2009.
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Australia's Prime Minister Kevin Rudd (L) sits next to his Treasurer Wayne Swan after Swan delivered the 2009-2010 national budget at Parliament House in Canberra May 12, 2009.
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Australian Prime Minister Kevin Rudd (L) looks on as Federal Treasurer Wayne Swan (R) delivers his second budget to the House of Representatives at Parliament House in Canberra on May 12, 2009.
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Australia's Treasurer Wayne Swan points to a projected diagram during a news conference at Parliament House in Canberra before the release of the 2009/2010 national budget May 12, 2009.
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Australia's Treasurer Wayne Swan gestures during a news conference at Parliament House in Canberra before the release of the 2009/2010 national budget May 12, 2009.
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Australia's Finance Minister Wayne Swan arrives prior to the G20 Finance Ministers meeting at a hotel near Horsham, in southern England March 13, 2009.
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If we were to simply withdraw stimulus that would pull the rug out from under recovery and that would result in far higher unemployment
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When the government borrows and spends with the Paris Hilton-type recklessness of Kevin Rudd and Wayne Swan then inevitably they are going to raise taxes to pay for it
SOURCE: The Age -
When you look at the United States economy where unemployment has hit something like 10 per cent plus, you've got the British economy which has had something like six quarterly contractions in a row ... people here are cautious
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We have Wayne Swan saying the Paris Hilton spending from the Rudd government has to continue with renewed energy
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Our economy is stronger, our unemployment is lower, and the budget position has improved substantially from the forecasts in the May budget
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We need to ensure we are not unfairly locking people out of work ... We need to maximize the investment we can bring to Australia. Taxes like stamp duty or insurance duty discourage people from making rational decisions such as moving home to be near a better job or downscaling when they retire.
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What Australia has achieved is something special. We have avoided the destruction of our capital and our skills base that is usually accompanied by a sharp recession
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Despite the improved outlook, the global recession has still had a marked effect on the Australian economy and challenges remain
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Our forecasts for growth and unemployment will be better
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Because of the efforts of Australians, combined with the actions taken by the government and the Reserve Bank, our forecasts for growth and unemployment will be better
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Inflation is expected to remain low over the near term, as the full impacts of the global recession continue to be felt in the domestic economy, which is expected to operate below capacity for some time
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It's hard to figure out what the opposition is doing because essentially they are populated by climate change dinosaurs
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I can see that there is some sledging going on from the Liberal and National parties. This is just all about hiding their embarrassment about the fact that they let Australia down when they voted against our stimulus package in the parliament back in February
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Polls do come and go and I note there's a bit of speculation about who's got support for what in the Liberal Party, but, whether it's Malcolm or Tony or Joe, every single one of them voted against the stimulus package in the parliament
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Mr Turnbull likes to talk about fiscal responsibility, but this Treasury analysis reveals a $3.2bn black hole in his own climate change costings
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If the Liberal and the National party had their way, Australia would be in a recession right now
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While Australia has outperformed every advanced economy throughout this global recession, now is not the time for victory laps or for ripping out the stimulus
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The effects of the global recession will be felt in Australia for some time to come. There are ongoing negative implications for the budget and of course further rises in unemployment
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Along with climate change, this is the most important challenge we face
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Our projections suggest that Australia's population could be larger and younger than presented in previous IGR projections
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What (the Fed chairman) was actually pointing to was a ray of light in the United States, but then saying there was a long, long way to go
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We certainly agree with President Obama that the job is far from finished
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Regrettably I think unemployment will continue to rise as the effects of the global recession do continue to wash through our economy
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Australia through a combination of circumstances, including economic stimulus and fantastic community efforts, has come through this global recession in far better shape than the rest of the world
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People have pulled together in Australia's hour of need. And thanks to the government, Reserve Bank, employers and employees all doing their bit, Australia has weathered the storm better than any other advanced economy
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