Australia's Report Card: Coasting, could do better.

The Prime Minister’s claim that Australia’s economy is one of the world’s strongest has received a setback as indications strengthen that the Reserve Bank is about to raise interest rates. The Global Competitiveness Index released overnight by the World Economic Forum in Switzerland has awarded Australia a bare pass, leaving it in 19th...

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Costello versus Swan: The love-in

COMMENTWe were promised a debate.Instead we were presented with two men in identical ties who smiled at each other across desks angled together on the National Press Club stage and agreed with almost everything the other one said.The long handshake for the cameras at the end seemed genuine. “We will have to stop meeting like this”, quipped...

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Tuesday Column: The Coalition's gift to Labor - a smashed piggy bank

When colonial governments in Africa withdrew they are said to have made things difficult for the administrations that succeeded them by allowing power stations to fall into disrepair, removing air conditioners, and filling in sewage pipes with concrete. Sometimes it was simply loading up the nation with debt. It’s an accusation that has...

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Costello versus Swan: Head to head, today

Political junkies looking for a rematch after the Rudd versus Howard leaders’ debate in week one will get the closest thing lunchtime today. Swan versus Costello will be treated in the same manner as the big clash. It’ll be broadcast by Channel Nine as well as the ABC and Sky News (most probably with the worm) and hosted by the National...

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Please, no tax cuts. We mean it.

This morning's Canberra Times outlines the results of its exculsive Eden Monaro poll:"An overwhelming number of voters would prefer money spent on health and education than tax cuts, according to an exclusive Canberra Times poll. Almost nine out of 10 voters surveyed in the marginal seat of Eden-Monaro would have preferred the budget largesse...

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Sunday Dollars+sense: Careful on your trip to work

Daylight Saving began early this morning. (You might have to trust me on that too, unless you want to check by turning on your TV or radio and discovering that you have already missed your favourite programs.) Early this morning we were meant to put our clocks forward an hour in order to help us get up and get on the road an hour earlier...

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Saturday Forum: Luck's end

Luck, diligence and a lot of support have given the team of John Howard and Peter Costello an enviable reputation for economic management over the last 11 years. They have been trashing it for the last 12 days. Day one began with a joint launch of Australia’s biggest-ever election giveaway – tax cuts worth $34 billion over three years,...

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What would Menzies think?

What would Menzies think?John Howard's hero, the founder of the Liberal Party and Australia's longest serving Prime Minister, Sir Robert Menzies fought the Labor Party's attempt to nationalise Australia's private banks with every fibre of his being.His success in the late 1940s propelled him into government and record 16-year continuous...

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Rate rises: Not one, but three says a major bank.

The Prime Minister's interest rate woes have deepened with a major bank predicting a series of three interest rate rises in the months ahead - in November, February and May. The ANZ bank has told its clients that the increases will be needed in part to combat price pressure fueled by the $40 billion election campaign. In the note to clients...

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Denial: The Treasurer was at it again...

...in this morning's interview with AM's Chis Uhlmann.My favourite question: "Treasurer, the market will have already factored in a possible Rudd Labor Government and nothing has happened. There's been no stampede for the lifeboats."Below :CHRIS UHLMANN: Peter Costello, good morning.PETER COSTELLO: Good morning, Chris.CHRIS UHLMANN: Treasurer,...

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SPIN DOCTOR: Everything old is new again...

Now we are being promised technical colleges “with a special defence twist”. What next? It is certain to be something else new. Its becoming clear that there aren’t votes in making work things we already have. There are votes in introducing partial replacements that are new. Consider technical colleges. Australia’s TAFE colleges probably...

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Let's see, it's about economic credibility, right?

Laughter rang out in dealing rooms across the country at the start of the Treasurer’s press conference after 12.30pm. A news flash on screens had him saying that Australia’s rate of inflation remained "within the band agreed by the federal government and the central bank”. He turned out to have really said it, with a straight (if somber)...

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Going Up. And the Coalition is rooted.

In a nightmare scenario for the Coalition the Reserve Bank is set to make history by increasing interest rates on Wednesday November 7 - two weeks before Australia goes to the polls.It is then expected to increase them again by a further 0.25 per cent shortly after the poll, bringing Australia’s professional cash rate to 7.0 per cent -...

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Laughter in dealing rooms throughout the country

Peter Costello has just opened a press conference saying that inflation is well within the Reserve Bank's target band.I have put the entire transcript of his press conference below. It is quite something.Also below is his press release. My favourite phrase reads "underlying inflation is expected as demand pressures ease".TREASURER:The Consumer Price Index rose by 0.7 per cent in the September quarter and by 1.9 per cent over...

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Morning campaign thoughts

This is a mop-up operation to ensure that no voter is left unbribed. Even the title gives the game away: “More support for pensioners, self-funded retirees, people with disabilities and their carers.” George Megalogenis When a conservative government starts chucking money at pensioners, carers and the disabled, you know the government is really in trouble. Christian Kerr I've just had a thought that will disturb the committed...

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Wednesday: Howard's end?

Politicians, economists and Reserve Bank staffers are on tenderhooks ahead of inflation figures due for release this morning expected to provide the trigger for a pre-election rate rise. An interest rate rise decided at the Bank’s Melbourne Cup day board meeting would come just 17 days before polling day and most likely deal a fatal blow...

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How (not) to interview.

Alan Jones with Peter Costello on 2GB this morning."JONES: I mean, where is there, this vision for the future which is different from yours?TREASURER: Well this is the point I would make..." Ad nauseum.JONES: Peter Costello, good morning.TREASURER: Good morning Alan. Good to be with you.JONES: What do you think, what do you make of all of...

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