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Topic: gdp
What’s a 1.8 billion levy look like?

What’s a 1.8 billion levy look like?

We’ll all be rooned by the Great Big New Tax Levy – it will put pressure on the retail sector, it’s a mateship tax, it will hit demand at a vulnerable time, first borns will die etc etc. Those were the lines earlier today from a variety of usual suspects on the governments now proposed […]

Relatively Speaking, How Big was our Budget Deficit?

Relatively Speaking, How Big was our Budget Deficit?

2.3% of GDP. But how big was it relative to our recent history? Here’s the underlying cash balance as a percentage of GDP for all Commonwealth budgets back to 1974/75. Red are the budgets Labor was responsible for, Blue for the Coalition. (click to expand) The 2008/09  deficit wasn’t that big, relatively speaking. Most of […]

GDP Figures – get a grip

GDP Figures – get a grip

Regardless of what the GDP data shows later today – here’s a chart that says it all. The fact that our media and PR-people-for-the-banking-sector-masquerading-around-as-economists are spending inordinate amounts of copy and time debating how likely it is that Australia will be in a ‘technical’ recession or not, rather than having to talk about the actual […]