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Peter Martin

Peter Martin is the Economics Editor for The Age.

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It's the debt, not the spending: why the budget is bleeding

Treasurer Joe Hockey addresses the media during a joint press conference with Finance Minister Senator Mathias Cormann, after the release of the National Commission of Audit Report, at Parliament House in Canberra on Thursday 1 May 2014.
Photo: Alex Ellinghausen

Peter Martin "Australia has a serious spending problem." Say it often enough and you'll believe it. Treasurer Joe Hockey has.

Comments 108

'Competitive federalism' the audit commission's guiding principle

Tax

Peter Martin States would be free to set their own income tax rates again and would offer different minimum wages under measures proposed by the Commission of Audit designed to rekindle intrastate competition.

Tax: the flaw at the heart of the National Commission of Audit

Peter Martin dinkus

Peter Martin What's missing? Tax. The Commission of Audit decided not to consider it. That meant also not considering something more fundamental: Tax

Comments 296

Pensioners, health, family payments face cuts under Abbott government's Commission of Audit report

Joe Hockey

James Massola, Mark Kenny, Peter Martin States would have the power to levy income tax, all patients would  pay $15 co-payments to visit a doctor, everyone would pay more for medicines, and family payments would be slashed under a...

Comments 489

Canberra to be cut to bone in audit report

Tony Abbott

Peter Martin and Mark Kenny Tony Abbott's Commission of Audit has recommended massive cuts to the size of government, with whole agencies to be abolished, privatised, or devolved to the states, in what would be the biggest...

Comments 383

Surgeons, finance dealers, mining engineers hardest hit in new tax

Peter Martin dinkus

Peter Martin Surgeons, financial market dealers and mining engineers will be among those most likely to pay the temporary deficit reduction levy being considered for the May budget.

Comments 315

Government policy to blame for rising cost of pension, not ageing population

Pensioner

Peter Martin and Gareth Hutchens The notion that pensioners are about to become a burden on Australian workers is ridiculed in a research paper.

Comments 146

Super fees eating into retirement income, Grattan Institute study shows

A study has called for the government to take control of default super funds as fees eat into the retirement income of Australians.

Peter Martin The government should take control of default super funds and award contracts by tender after a study showed invisible fees were forcing Australians to pay twice as much as they should to their...

Sunday Explainer: What's worse for the budget? Super or pensions

Over the next 40 years, the number of Australians aged 65 or over will double.

Peter Martin s the cost of the pension really soaring beyond control? Or is that just the sort of talk we hear in the lead-up to every tough budget? Isn't the cost of superannuation growing even faster? And why...

Look the other way for Treasurer Joe Hockey's budget crisis

Peter Martin dinkus

Peter Martin There is a budget crisis, but it isn’t coming from where the Treasurer is telling us to look.

Comments 49

Hockey prepares straitjacket to put restraint on spending

Peter Martin Faced with a choice between ramping up tax or bearing down on spending, Joe Hockey has opted to stifle spending.

Joe Hockey to stifle spending and taxes in May budget

Joe Hockey

Peter Martin Faced with a choice between increasing taxes or bearing down on spending, Joe Hockey has opted to stifle spending.His target is unprecedented - to limit annual spending growth of 1.

Comments 143

Cuts date imminent: Hockey

Joe Hockey

Mark Kenny and Peter Martin The federal government's tightly held Commission of Audit report will be released publicy within days.

Comments 197

Is Badgerys Creek airport a good idea?

Badgerys Creek road sign at the

Peter Martin Badgerys Creek will take a lot of work to build and will generate what the government says will be 60,000 permanent jobs by 2060, but it will not be much of an airport – at least not at first.

Is a new airport at Badgerys Creek really needed?

Is a second airport the best way to solve Sydney's air travel congestion problems?

Peter Martin Within weeks of taking office treasurer Joe Hockey commissioned a Productivity Commission inquiry into the funding of infrastructure.

Comments 88

Superannuation: Retirees poorly served by system, says Centre of Excellence in Population Ageing Research

Retirees

Peter Martin So poorly are retirees served by the super system that Australia's leading longevity research organisation is suggesting the government step in and offer policies of its own through Australia Post.

Dollar at year's high, bets on higher interest rates

Dollar coin.

Peter Martin The Australian dollar has hit a new high for the year and financial markets are betting on higher interest rates after a shock unemployment result suggested the jobs market had turned a corner.

Joe Hockey signals raising pension age, more means testing of welfare

Joe Hockey.

Peter Martin, Economics Correspondent Treasurer Joe Hockey has signalled a further increase in the pension age, more welfare means testing and co-payments for medical services in a speech in Washington delivered as the budget takes shape.

Comments 412

Surprise fall in unemployment rate pushes up dollar, prompts talk RBA may lift interest rates

Peter Martin Economics Editor  SMH: Economics Correspondent