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Articles from MacroBusiness

Which state is being ‘dudded’ on GST?

June 17, 2025 - 12:00 -- Admin

The Commonwealth Grants Commission (CGC) reduced Queensland’s share of goods and services tax (GST) revenue by $2.4 billion in March due to the state’s strong revenue from coal royalties. Queensland’s GST allocation was also reduced by $384 million in 2024-25. Federal Treasurer Jim Chalmers indicated at the time that he would not overrule the independent

Chinese property surges downwards

June 17, 2025 - 11:30 -- Admin

It’s the bust that keeps on giving. Sales volumes were flat year on year. But that’s the end of the good news. Starts are still in free fall, down nearly 80% from peak. And there is still more empty, idle, half-built and unsold stock than you can poke an entire country at, about one-third from

Victorian government fails basic housing maths

June 17, 2025 - 10:30 -- Admin

In last month’s budget speech, Victorian Treasurer Jaclyn Symes labelled the state government’s controversial Suburban Rail Loop (SRL) project as “Australia’s largest housing project”. “The Suburban Rail Loop is Australia’s largest housing project”, Symes proclaimed. “With Melbourne expected to reach the size of London by the 2050s, it will deliver 70,000 more homes on the

Sell Abu Dhabi half of Santos

June 17, 2025 - 10:00 -- Admin

Sell Abu Dhabi half of Santos. Or some fraction of that makes sense to the national interest. We must all remember the history of this evil firm. As explained by The Australian in 2017 (below), Santos built two LNG export trains out of Gladstone, Queensland, without enough gas to meet export contracts. As a result,

Macro Morning

June 17, 2025 - 09:00 -- Admin

  As the G7 meeting in Canada gets underway, the headlines are still dominated by the Israeli-Iranian war with the potential for a ceasefire pushing European and US stocks higher overnight. The USD was able to gain some lost ground but remained quite mixed against the currency majors with news of a potential trade deal

Superannuation needs fixing, but not like this

June 17, 2025 - 08:00 -- Admin

Australia’s superannuation concessions need to be adjusted to make them more equitable and sustainable. According to the Australian Treasury, superannuation concessions cost the federal budget around $60 billion in foregone revenue in 2024-25 and are expected to grow rapidly. Concessions on contributions cost the federal budget $30,950 billion in FY25, rising to $36,750 billion in

Queensland should fight common gas enemy, not Victoria

June 17, 2025 - 00:05 -- Admin

It was disappointing to see the Queensland’s Liberal-National government oppose exporting more gas to Victoria, claiming that it doesn’t have the gas supply capacity to keep “bailing out Victoria’s bad decisions”. Queensland Natural Resources Minister Dale told The AFR that his state would refuse to divert further supplies south and blamed the critical energy constraints

Macro Afternoon

June 16, 2025 - 16:00 -- Admin

The Israel-Iran war continues to dominate risk markets as the new trading week gets underway here in Asia with share markets quite mixed while there has been a slight bit of strength in USD over the weekend gap, but still far from a proper safe haven bid. With all eyes on the Middle East conflict,

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