Peter Martin Google+

Peter Martin

Peter Martin is the Economics Editor for The Age.

MYEFO budget update: why Scott Morrison has rightly avoided swinging the axe

Peter Martin Scott Morrison has learnt well from Joe Hockey, Chris Bowen and Wayne Swan.

Budget update: Iron ore retreat, flat wages to deepen deficit

Scott Morrison and Mathias Cormann in Perth on the 14/12/15. Photo Phillip Gostelow

Mark Kenny and Peter Martin Steeply falling iron-ore prices, flat wages, and sub-trend economic growth have hit the federal budget hard meaning all of the extra spending since May will simply worsen the bottom line to...

Jobs growth is nothing like the 71,375 Michaelia Cash trumpets

Peter Martin.

Peter Martin No one can accuse the Employment Minister of failing to take advantage of an opportunity.

Morrison threatens to walk away from GST deal, saying he won't prop up state budgets

Scott Morrison said he would consider changing the GST only if the money raised was used to cut income tax and company tax.

James Massola and Peter Martin State governments face combined deficits of $50 billion by 2030, leaked Treasury modelling shows.

Off the table: why the GST won't be lifted to 15 per cent

Martin

Peter Martin So out of favour is the idea of increasing the GST that by the time the government releases its tax options paper in the new year a 15 per cent GST might not even be on it.

Raising the GST to 15 per cent is far harder than it seems

Peter Martin dinkus

Peter Martin The agenda paper prepared for Thursday's treasurers meeting ought to come with a big red stamp that reads "danger".

Ideas boom: Malcolm Turnbull admits some policies in $1.1b innovation plan could fail

Malcolm Turnbull at the CSIRO Discovery Centre in Canberra.

Mark Kenny and Peter Martin Aligning scientific research and business, and encouraging risk-taking are the key elements of the "ideas boom".

Free to fail in Malcolm Turnbull's new $1.1 billion innovation plan

The innovation statement represents Prime Minister Malcolm Turnbull's first major policy initiative since taking the top job.

Peter Martin Businesses will be given the freedom to fail and get back up on their feet quickly under new US-style bankruptcy laws announced as part of Prime Minister Malcolm Turnbull's innovation statement.

Comments 70

Older Australians too cautious about their finances, says Productivity Commission

The Productivity Commission has found older Australians are

Peter Martin There's such a thing as too much caution. Older Australians could enjoy far higher standards of living and could cut their reliance on the aged pension if they just ate into just a portion of the $1...

Comments 48

No surplus in sight: Deloitte says budget billions worse than forecast as revenue crumbles

Treasurer Scott Morrison said this month the government did not have

Gareth Hutchens and Peter Martin The Australian budget is facing deficits $38 billion worse than forecast and on present settings will never return to surplus, an authoritative new analysis finds.

Comments 180

Jay Weatherill breaks ranks with conditional backing of 15% GST

South Australian Premier Jay Weatherill.

Peter Martin South Australia has broken ranks with other Labor states and come out in favour of a 15 per cent goods and services tax, with conditions.

RBA governor Glenn Stevens indicates interest rates to stay on hold in December

Peter Martin Reserve Bank governor Glenn Stevens has signalled that interest rates will stay on hold at next Tuesday's meeting saying the case for leaving them steady was one he "happened to agree with".

Comments 6

NSW the half-trillion economy, but it's falling behind

dollar

Peter Martin NSW has become Australia's half-trillion dollar economy, for the first time producing more than $500 billion in a calendar year.

Australian National Accounts: Victoria on top as fastest-growing eastern state

Victoria's Treasurer,  Tim Pallas, says the news showed confidence had returned after years of economic inertia.

Peter Martin and Richard Willingham Victoria has become the fastest-growing economy on the eastern-seaboard, overtaking NSW for the first time since 2008.

Tony Abbott says Australia needs to do more to tackle ISIS toxin at its source

Tony Abbott on The Bolt Report

Peter Martin Former prime minister Tony Abbott says Australia needs to consider sending in troops to fight the Islamic State in Syria and Iraq.

Charging for immigration could raise $7.6 billion, Productivity Commission finds

Senator David Leyonhjelm has welcomed the Productivity Commission's analysis.

Peter Martin Auctioning the right to come to Australia could raise $35,000 to $45,000 per immigrant, enough to boost the budget by $7.6 billion per year, a Productivity Commission analysis has found.

Comments 131

Reserve cuts forecast growth, raising prospect of multibillion-dollar budget hit

Reserve Bank of Australia.

Peter Martin The Reserve Bank says the Australian economy will grow far more slowly than forecast in Tony Abbott's May budget, opening up the possibility of a multibillion-dollar hole in Malcolm Turnbull's first...

Treasury secretary John Fraser to cut Australia's long-term economic growth projections

John Fraser in his Treasury office earlier this year.

Peter Martin The Treasury is preparing to downgrade its forecasts of economic growth, cutting expected improvements in government revenue and potentially pushing out its estimate of the date the budget returns to...

Comments 23

Tax grabs could put democracy at risk, says Ross Garnaut

Ross Garnaut says stagnant incomes for most people place a great strain on a democracy.

Peter Martin Tax grabs by corporate interests in Australia and the US are putting the economy at risk and calling into question the future of democracy, leading economist and China specialist Ross Garnaut says.

Comments 75

GST changes will be 'fair' and won't push up total tax take, government promises

Treasurer Scott Morrison says the government's goal is to deliver a better tax system with a better mix.

Peter Martin In the strongest hint yet that the Turnbull government plans to swap income tax for goods and services tax, the Treasurer Scott Morrison has promised that any switch won't increase the total tax take.

Comments 35