The government’s capital gains tax reforms are likely to increase tax for some investors, but claims they will destroy wealth creation or aspiration for younger Australians may be overstated.
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Category: Economy
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Are this budget’s tax changes really an ‘assault on aspiration’?
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The aid budget ignored a deepening global crisis
Despite the economic and humanitarian shock triggered by the Iran war, Australia’s latest foreign aid budget failed to deliver the kind of substantial regional response the country mounted during the COVID-19 pandemic.
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How credible is the Liberal’s economic strategy?
Angus Taylor’s budget reply speech may appeal to One Nation supporters, but it doesn’t provide credible answers to the nation’s problems.
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A small but definite step for a timid prime minister, a tiny jump for Labor
The 2026 Budget marks a rare moment where Labor showed some willingness to confront inequality and tax reform, but the government still shrank from the scale of change the moment demanded. (more…)
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Trump’s aid cuts are pushing more Americans to food banks
Food banks across the United States are reporting surging demand as cuts to food assistance, rising prices and inflation leave millions of vulnerable Americans struggling to afford groceries.
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India is no longer resisting globalisation – it is shaping it
India has shifted from decades of economic protectionism to an outward-looking strategy built on trade, investment and global integration, transforming its role in the world economy. (more…)
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It’s crucial to follow the money on the US national debt
A big chunk of the growing interest payments American taxpayers make on the federal debt is going to wealthy Americans. (more…)
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Budget 2026: The government buckles on fossil fuel tax reform
In a federal budget that sought to restore intergenerational equity, particularly through reforms to tax concessions that have long favoured Australia’s wealthiest few, the Albanese government is facing criticism for ignoring a golden opportunity to balance the scales on energy and climate. (more…)
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Budget 2026: Will this budget really make housing fairer for more Australians? It’s a good start
This week’s budget begins winding back tax concessions that heavily favoured property investors and wealth accumulation, while pairing those changes with new measures aimed at boosting housing supply and long-term budget sustainability. (more…)
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Budget 2026: Responsible, reformist – but still too cautious
This is a responsible budget that responds sensibly to inflation and weak productivity, but it stops short of the deeper tax and climate reforms needed to reshape the economy.
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Budget 2026: Leadership means more than keeping campaign promises – Message from the Editor
The obsession with whether governments have broken campaign promises is shrinking political ambition and discouraging the kind of leadership needed to tackle Australia’s deep structural problems, P&I Editor Catriona Jackson writes. (more…)
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Budget 2026: The biggest tax reform agenda in a generation
The government’s Budget reforms on negative gearing and capital gains tax will not solve the housing crisis overnight, but they represent the most ambitious attempt this century to rebalance Australia’s tax system and address intergenerational inequality. (more…)
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Budget 2026: It pains me to say nice things about politicians, but this is a good budget
The federal budget takes long-avoided steps to curb housing tax concessions, rein in spending growth and reduce intergenerational unfairness – despite the political risks. (more…)
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Budget 2026: Clean energy spending grows but gas giants still avoid reform
The federal budget increases investment in emissions reduction, batteries and clean energy infrastructure, but leaves major fossil fuel tax concessions and gas industry profits largely untouched. (more…)
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The old economics is failing – and the World Bank knows it
By coming out in favour of industrial policy after many decades of advising against government intervention in the economy, the World Bank has taken an important step. But it still has much further to go to translate real-world evidence into better policy advice.
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Time to rob old relics to bring up new generations
The principle that those who are best off should be paying more tax as a proportion than those of more modest income is a fundamental one. That includes baby boomers. (more…)
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Australia needs to retain women in STEM careers
If we are serious about productivity, innovation and long-term economic resilience, we cannot afford to keep losing women from STEM occupations and leadership pipelines. We cannot afford to overlook experience. And we cannot afford decision-making structures that draw from only part of the population. (more…)
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Record installations of home solar and battery systems
Home battery installations shattered records in April. Householders were racing to secure the biggest possible discount for the biggest possible energy storage system before changes were introduced to the federal rebate that are designed to encourage much smaller systems. (more…)
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The coming famine
The short-term world food crisis caused by the conflict in West Asia is superimposed on a far graver, deeper and longer-running risk of a collapse in global food production caused by the remorseless combination of climate change and losses of soil, water and biodiversity. (more…)
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America builds AI, China uses it to transform systems
The US continues to lead in developing AI, but risks falling behind in deploying it at scale. China, once seen primarily as a follower, is positioning itself as a leader in implementation. If this persists, the consequences will be seen in the competitiveness of national economies. (more…)
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The PM is wrong: gas exports can and should be taxed
A 25 per cent on LNG exports will not affect either the volume or price of LNG exports. Customers therefore have nothing to fear, and the Prime Minister was wrong to stop the tax. (more…)
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Australia’s resilience is inseparable from Asia
Australia is anchored in Asia, yet elements of our defence posture continue to assume a different centre of gravity. This makes it difficult to reconcile long-term strategic planning with the region Australia relies on for its economic security and wellbeing. (more…)
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Supercharging our AI Safety Institute now could make all the difference
A modest increase in funding for Australia’s AI Safety Institute could position the country as a global leader in a fast-growing industry, while managing risks and unlocking major economic gains. (more…)
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Australia risks weakening itself by overcorrecting on China
Australia’s economic relationship with China remains strong, but growing restrictions on investment and research risk undermining long-term economic and national security. (more…)
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The gig economy promises freedom. The reality is different
What looks like reckless behaviour on the streets reflects a deeper system of incentives in the gig economy that rewards speed, constant availability and risk-taking. (more…)
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It’s time to tax gas exports in the national interest
The best way to stop the massive under-taxation of Australian LNG would be to fix the petroleum resource rent tax, but a quick second best would be a tax on export revenue. (more…)
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America owes itself and that is the problem
The US debt debate often focuses on foreign creditors, but the real issue lies within America’s own political and economic system. (more…)
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The real budget problem is what we call “spending”
Debates about debt and deficits overlook a central issue – large amounts of “spending” are hidden in tax concessions, subsidies and underpriced public resources. (more…)
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Labor’s foreign policy no longer matches the world it faces
In the second on our Rethinking Foreign Policy series Kym Davey says Labor’s foreign policy platform is out of step with current realities – clinging to US alliance settings while ignoring its own commitment to self-reliance and the opportunities of the Asia-Pacific. (more…)
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Why has populism’s influence increased politically
Claims that rising inequality is driving populism overlook the evidence – stagnant wages and falling living standards are the more likely cause. (more…)