Every time politicians and media commentators start talking about “serious economic reform”, ordinary Australians somehow end up paying more, working longer, and getting fewer services, while big corporations and wealthy investors walk away with another tax break. Hmmm it’s unusual that “shared sacrifice” nearly always flows in one direction. Australians are told to tighten belts while corporate profits and executive bonuses keep soaring.

#auspol #australia #inequality #budget #Budget2026 #costofliving #stage3taxcuts #workersrights #economics #politics #corporategreed

https://snarkygherkin.substack.com/p/everyone-wants-reform-until-reform?utm_id=97758_v0_s00_e233_tv4_tp1_a1demo0dzyyjly&triedRedirect=true

BREAKING

The NZ government has finally admitted that there is no future in fossil fuels.

In the #Budget2026 they’ve announced a scheme to assist businesses to transition away from fossil gas.

Assume they will now cancel the costly and doomed LNG import terminal idea?

#nzpol #climatechange #EnergyRevolution #iran

I keep hearing the argument that if we tax business capital gains the same as income, people won't have the incentive to start businesses. I don't understand how an argument like this, which doesn't withstand a few moments of scrutiny, has been getting so much airtime. So let's give it that scrutiny.

For simplicity's sake, let's divide people who are considering starting a business into two camps: "be my own boss" and "get filthy rich".

The "be my own boss" entrepreneur is aiming to make a living through their business. Most of what they're looking for is a regular income, which is taxed as regular income tax (they also get fairly generous tax concessions as part of being a business owner). If they sell their business, they can make a very tidy profit and still be under CGT small business cap (potentially enough to never have to work again if well invested and they are willing to live within their means).

The "get filthy rich" entrepreneur is aiming to build a large business and have access to a massive amount of capital to do with what they will at the end of it (live large, have intergenerational wealth, make more money, give it all away). They are only affected if they sell their (share of their) business. When these people sell, they will pay significantly more tax without the discount than with it, but they will still end up significantly more than they could possibly accumulate as even a very well paid wage earner in that time.

The incentives for either type of entrepreneur don't change. There is no situation under the changed CGT arrangement where it made sense for someone to start a business (instead of taking a wage) before the budget changes take effect but not after. Yet people who should know better are continuing to spread this ridiculous talking point unchallenged.

#auspol #cgtdiscount #Budget2026

The new federal budget offers modest help for Australia’s squeezed renters, but fails to match the scale of the crisis.
Rent assistance is up for those already on payments, and “no grounds” evictions may be banned eventually. Limiting negative gearing to new builds is a small blow against property investor privilege.
But the core reality remains ignored. Sydney median house rent is now $990 a week. There are 360,000 more renting households than in 2016. Many key workers—nurses, teachers, retail staff—earn too much for help but not enough for security.
The budget’s new rental supply won’t arrive for a decade. That does nothing for a family facing a rent rise next month.
Renters need secure, affordable homes near jobs and services, not just promises of future stock. This budget nods toward reform but still treats renting as a second-class form of housing. A home is a home, whether you own it or not.

#AusPol #HousingCrisis #Budget2026 #budget

https://theconversation.com/not-homeless-not-homeowners-what-does-the-budget-mean-for-australias-squeezed-renters-283093

Amy Remeikis

'the RBA is raising interest rates to make more people unemployed, in a heavy-handed attempt to tackle potential future inflation, Treasury is revising down expenditure in Jobseeker, claiming there will be a 3.8 per cent drop or saving of $700 million over two years'

#ausPol #budget2026 #labor

https://www.thenewdaily.com.au/news/politics/australian-politics/2026/05/16/budget-broken-promise-labor