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Babcock & Brown sank in a sea of debt during the Global Financial Crisis, its $70 billion of assets around the world were soon up for grabs. Its rail business in WA went to the then little known Canadian financier, Brookfield. And Brookfield has made a killing
Should the Government award contracts to tax cheating multinationals? The subject is likely to be covered when the Parliamentary Inquiry into the Big Four accounting firms kicks off late this year, the Big Four themselves being the ringmasters of global tax chicanery
Three interest rate cuts have failed to lift the economy. As have the Government’s $1080 tax breaks. Printing money is now a serious option. Quantitative Easing they call it, or “QE”.
We live in a particracy – the party-room rules and we are run by clever politicians, not leaders with courage and the fortitude to make tough decisions.
Mathias Cormann has been exposed for gilding the lily by a report from his own government department, or maybe he just got the facts wildly wrong. The report proved Australia’s Finance Minister wrong on Australia’s gross debt, net worth, taxation levels, infrastructure, government spending and the surplus
Quad Erat Demonstrandum
