Year: 2011

For a new report, we recently surveyed all of Australia’s local councils. We wanted to find out how they perceived the financial consequences of catering for more people. We also asked them about their responses, and what they thought of their revenue-raising capabilities.

Domestic debates pale into insignificance in comparison with the financial storm that is brewing on the horizon. Why are we even contemplating new taxes that damage our international competitiveness at a time of the utmost economic uncertainty? Australia may have been an island of tranquillity post Lehman, but for how much longer?

To understand the effects of a growing population on Australia’s councils, CIS surveyed local authorities from all over the country. The results are alarming. The level of frustration with inadequate finance for required infrastructure upgrades is high, and population growth is the reason behind rate hikes. Local government finance reform is overdue.

Competition between political entities, whether they are countries, states or cities, has correctly been identified as one of the fundamental conditions for creating prosperity. But in Australia, we have abolished the possibility of such competition at both the federal and the local level. If we want to prepare Australia for future growth it is high time to reinstall the ‘killer app’ that once made the West – and Australia – rich.

Unlike some, mainly British, commentators I do not derive any pleasure from looking at Europe’s problems. And though I am quite an EU-sceptic, I would still call myself a Europhile.

As the whole world worried about a potential Greek collapse, another European country experienced two actual bank failures. And no, they did not happen in Portugal, Spain or Italy. In fact, the failures didn’t even occur in the eurozone. The country in question is Denmark.

For Australia’s wealth and prosperity, it does not matter where the profits from Australian businesses end up. All that matters for the Australian economy is that Australia remains a place where business transactions take place – irrespective of who owns the business.

For Australia’s wealth and prosperity, it does not matter where the profits from Australian businesses end up. All that matters for the Australian economy is that Australia remains a place where business transactions take place – irrespective of who owns the business.