I have now covered more Australian budgets than I care to remember. Many budget speeches are not memorable; however, this one is different. What makes this budget different is that the Treasurer seems to understand how the economy works. A steady reduction in taxation on small and medium businesses leaves them more money to invest. With more money to invest, they can create more jobs. Rarely has the problem of creating jobs in a modern economy been more correctly and precisely addressed. Simply put, a tax on profits is a tax on job creation. This is particularly true for small business. Most Treasurers never seem to work that out. See my thoughts on yesterday's budget and RBA rate cut, read the text article: (VIEW LINK) or view the video:
Michael was an Australian Trade Commissioner serving in Saudi Arabia and Indonesia. He joined Morgans (now Morgans Financial Limited) in Sydney in 1988. He was Chief Institutional Options Dealer until moving to Brisbane in 1990 as Economist and...
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