The OECD said high household indebtedness could "exacerbate" any economic shock that hit Australia.
"High household indebtedness means that the authorities should stand ready to tighten macro-prudential policy settings if lower interest rates fuel house price inflation through a sharp pick-up in credit," the OECD found.While expecting further rate cuts, the organisation said the Morrison government should "loosen fiscal policy" to help get the economy growing faster.
"At the same time, growth-enhancing tax reforms should be prioritised. These include shifting the tax mix away from direct taxes and inefficient taxes like real estate stamp duty to the GST and land taxation."
swrighteconomy What we need is TARGETED spending that doesn;t flow into the pockets of the great Australian ripoffs, the multinationals, the banks, including the investment banks, the 'famed' Government private partnerships that COST the taxpayer... but money actually goes to the little guys
swrighteconomy Local and State governments and their increased charges and taxes are eroding the wages of ordinary Australians. This has got to stop now.
swrighteconomy liberals are terrible with the economy! No idea why australians keep falling for their bs.
swrighteconomy And Labor wanted to hit Australia with $387B in new taxes 2019 election Do you think that would've helped?
swrighteconomy Tell the RBA to keep cutting rates.....it’s worked so well all over the world.
swrighteconomy Gosh, ya think?
swrighteconomy and too many scumbag parents with drug habits
swrighteconomy We all know that is the case outside of Canberra!
swrighteconomy Well duh! Been that way for a long time now. The crackpot LNP's idea of sound economic management is a consumption tax boosted by new immigrants. ie. Zero substance, zero clue🙄