RBA governor calls for major shake-up of tax system | Sky News Australia

Governor Philip Lowe this week described the current state of the economy a 'once in a lifetime contraction', warning unemployment would hit 10 per cent by the end of June and remain above six per cent for the next two years. In some good news, the RBA governor said he expected the economy to start rebounding in September this year.

However he warned the business landscape would look vastly different on the other side of the coronavirus crisis, and urged the government to consider wide-ranging policy reforms. "We should be looking again at the way we tax income generation consumption and land in this country, how we build and price infrastructure and how we train our students and workforce," he said. "They say we should be looking at the flexibility and complexity of our industrial relations system.

DV violence against women costs the economy $8 Billion a year need to spend more on prevention and support.

A 3% turnover tax would rope in everyone on every transaction including the global giants. A love real-time tax

Leave my Franking Credits alone! And my negatively geared properties and my superannuation sham transfers and my family trust and my novated leases car and my $2 shell company used for phoenixing...

They dont habe the spine to do what's required..

ZeeNews sudhirchaudhary SudhanshuTrived SudarshanNewsTV Swamy39 hmo

What about the completely unfair and unequal franking credits? This is how Murdoch got a majority for the arrogant, verbose nonentity currently PM.

The Governor is doing his job ...and the government no doubt will listen ...but will anyone go that step further to review, formulate and implement. Lets not leave our Country behind when things are back to normal (whatever that normality may be)

Remove Tax from payroll. Remove Rego Remove Rates No stamp duty/land tax period Restore a National Bank and remove foreign controlled central bank system. Thus restoring how it should be in the Constitution 1900.

By shake up does he mean returning to a time like in the 50s where we have strong employee protection and collective bargaining which resulted in fantastic economic growth because people were empowered as consumers?... If course not 😥

The hidden agenda of why the Government locked down Australia. This comes as NO surprise.

CentralBanksAreTheVirus

RBA is foreign controlled anyway

WorkChoices3_0

The return of manufacturing in Australia will be the answer. Start with the clothing industry. It was one of the biggest industries Australia has ever had

Revamp the the tax system so that big biz / big fat cats are forced to pay 20% off the gross revenue- no exception!!!!

Just to be clear, the RBA were useless coming into this crisis and will be useless getting out of it?

A tax revamp would be great, my suggestion. 1. Lower the current PAYG Tax rates to a flat 15%, they are too high they stifle spending. 2. Introduce a flat consumption Tax on everything say 15%. 3. HALVE Stamp Duty on property. 4. Slash Land Tax by 60% Then watch us grow.

If the right fail to capitalise on this opportunity to reshape Australia I will be very angry. Imagine what the left would do if in power.

Unlock industry & opportunity; focus on less regulation, productivity growth & help government get out of the way. It isn’t complicated. Government depends on ‘us’ to fund it, when times are good. So why not when times are bad?. More support; less control.

Won't happen. Every minority group will want their 2 bobs input so it won't work for the majority and need just as, out even more, complicated.

How about focusing on establishing a national bank and re-industrialising Australia?

Time to shut down the Reserve Bank altogether,

Here come the reality

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UN climate change fund calls coronavirus an 'opportunity' to re-shape the world | Sky News AustraliaThe UN-funded financial arm of the Paris Agreement has labelled the killer coronavirus an “opportunity” to raise funds for climate change action and “relaunch economies on low-emission, climate-resilient trajectories”.\n\nThe extraordinary statements have been published in a document by the Green Climate Fund – an international organisation with a $10.3 billion budget (US).\n\nAustralia gifted it $200 million (AUD) in 2015 but Prime Minister Scott Morrison axed further contributions after questions were raised about funds being sent to China, the single largest CO2 emitter in the world.\n\n“While COVID-19 is causing untold suffering, the international response to this unprecedented health crisis in modern times offers an opportunity to direct finances towards bolstering climate action. GCF will continue to make critical investments in climate-resilient water resource management, health care facilities, agriculture and livelihoods – all of which are essential to subduing and overcoming the pandemic,” the organisation wrote in an official public update.\n\n“Similarly, we will step up our efforts to catalyse green investment to relaunch economies on low-emission, climate-resilient trajectories.\n\n“The Green Climate Fund is confident that only a united approach – bringing together determined efforts and innovation – will provide lasting solutions to both the COVID-19 pandemic and climate change.”\n\nThe Green Climate Fund went on to suggest that climate change was a threat comparable to COVID-19 which has killed 165,000 people, infected millions more and ravaged global economies.\n\n“The COVID-19 pandemic and the global response required to stem it shows the importance of acting together to solve unparalleled threats to people and our planet,” the GCF said.\n\n“The far-reaching impacts of COVID-19 are a stark reminder of the catastrophic implications the world faces if we don’t.”\n\nA Sky News special investigation last year revealed the GCF squandered $3.7 million fly Agenda 21 The UN, WTO & WHO will be broken up after this issue. funny how the far left aren't protesting outside Chinese Embassys and demanding they cut all co2 emissions, it's like as if they have granted them permission ClimateEmergencyHoax
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