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Peter Martin

Peter Martin is the Economics Editor for The Age.

You need how much to be uber rich? Our top earners are taking home more

High income earners are on the rise in the statistics.

Peter Martin The top 10 per cent of Australian earners took home an extraordinary 29.7 per cent of Australian income in 2012, the highest proportion on record.

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Federal budget 2015: Reserve Bank says growth will be lower, recovery slower

Reserve Bank governor Glenn Stevens.

Peter Martin The Reserve Bank has downgraded its forecasts ahead of next week's budget, saying the economy will be weaker and will take longer to recover than previously thought.

Federal budget 2015: Numbers deteriorated as final pieces were put in place

Iron ore prices have soared in the past four weeks.

Peter Martin A late surge in iron ore prices has failed to lift the budget's bottom line, with estimates suggesting it has probably deteriorated by about $1 billion in the past four weeks.

Federal budget 2015: GST on Netflix and more on the way

Assistant Treasurer Josh Frydenberg.

Peter Martin The federal government will move to impose the goods and services tax on services such as Netflix under new rules to be included in next week's budget.

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Federal budget 2015: Census saved, $250m investment in Bureau of Statistics

Census thumb

Peter Martin The census has been saved and the Australian Bureau of Statistics will get a $250 million funding boost as part of the biggest technology upgrade in its 110-year history.

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Why the Reserve Bank cut its cash rate to an all-time low

Martin

Peter Martin The last time the Reserve Bank cut interest rates ahead of a budget the man who is now treasurer said this: "Wayne Swan says the economy is doing just fine.

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Australia faces risk of systemic economic crisis without carbon action, study finds

Australia is on track to consume all of its share of the global emissions budget in the next 10-17 years.

Peter Martin Australia' emissions-intensive economy gives it a greater than 50 per cent chance of a systemic economic crisis, a new study says.

Federal Budget 2015: Expect a do-nothing budget that will cost us time

Prime Minister Tony Abbott and Treasurer Joe Hockey arrive for question time at Parliament House.

Peter Martin Abbott’s and Hockey’s idea of a fair budget is one that does not offend anyone.

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Reserve Bank to cut interest rates in May in face of weak economy

Reserve Bank of Australia

Peter Martin Concern about a deteriorating economic outlook and a resurgent Australian dollar will force the Reserve Bank to cut interest rates to an all-time low on Tuesday.

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Harper competition review: Taxis pharmacies, shopping hours ripe for shakeup

Taxis are 'virtually unique among customer service industries', the Harper review found.

Gareth Hutchens, Peter Martin Rules that restrict taxi licences, shopping hours, the location of pharmacies and the resale of goods legally purchased overseas would be swept away as part of a package of measures proposed by the...

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Australian businesses neither use nor know about trade agreements

busines and globe

Peter Martin A new survey has revealed that most Australian businesses neither understand nor use the existing free trade agreements.

Deal of the century: Australia borrows $4b for 20 years at 2.865 per cent

The AOFM has secured long-term debt deals at effective interest rates that are close to zero.

Peter Martin The Australian Office of Financial Management has scored the deal of the century.

NSW taxes small business big

tax

Peter Martin NSW is by far the most highest-taxing state where the companies have to pay rent; charging a $1 million payroll a total of $177,000, and a company with a $6 million payroll $1.15 million.

Labor to embrace the sharing economy of Uber and Airbnb, with standards

Shadow assistant treasurer Andrew Leigh says Labor will not tolerate the erosion of workers' rights.

Peter Martin Labor will launch a discussion paper on the sharing economy at the National Press Club on Tuesday.

Reserve Bank likely to wait on another cut

Glenn Stevens

Peter Martin Concern about the Sydney property market is shaping as an impediment to another interest rate cut at the Reserve Bank board's next meeting in April.

Reserve Bank fears weakening economy

RBA

Peter Martin Tuesday's RBA board meeting has considered new data released since its last meeting showing much lower than expected investment intentions for the third quarter of this year.

Data

ABS chief David Kalisch: Don't take the employment numbers too seriously

The new head of the Bureau of Statistics, David Kalisch, wants several hundred million dollars from the government for an entire technology refresh.

Peter Martin The new head of the Bureau of Statistics has a disarming reply to people who complain that the bureau's unemployment data is unreliable. It's to not rely on it.

The economic case for changing leaders

Peter Martin

Peter Martin If Tony Abbott survives and he and Joe Hockey cobble together another budget like the last one, the opportunity for a timely reset will be lost.

Dire forecast led to Reserve Bank cut

The Reserve Bank released its quarterly statement on Friday.

Peter Martin The Reserve Bank board decided to cut interest rates on Tuesday after being presented with forecasts showing what would happen to employment and economic growth if it did not.

Analysis

Economic weakness, not strength, drove the Reserve Bank to cut

Peter Martin dinkus

Peter Martin Pay no attention to what the Treasurer says this time. Listen to what he said last time.

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