Stable interest rates
Confidence is increasing still further that the Reserve Bank will keep official interest rates unchanged at its July meeting. The Owl/Crikey Interest Rate Indicator now has no change as an 84% probability.
Is Scott Morrison getting ahead of Malcolm Turnbull in the GST debate?
Michelle Grattan , University of Canberra Scott Morrison has become a true believer in the cause of raising the GST, determined to drive a major switch in the tax mix. The big question is whether Malcolm Turnbull will end up in the same place as his treasurer. Turnbull is keeping his options open. “Changes to the GST are certainly part of the tax debate and certainly being actively considered by the government,” he said on Friday. If Turnbull agrees with Morrison, all will be well and good between them. On the other hand if Turnbull eventually opts for caution and doesn’t walk down the GST road, or in the shorter term feels Morrison is getting ahead of the game, that would be awkward for the gung-ho minister, who would the need to manage his retreat. Morrison wants a high profile and he seeks the limelight. But that carries risks. There is always that salutary tale from Labor days. Paul Keating was passionate about introducing a broad-based consumption tax. Bob Hawke let
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