Treasurer Jim Chalmers’ “new capitalism” will see Australia as the “Venezuela of the Southern Hemisphere”, according to Herald Sun Business Commentator Terry McCrann.
“He wants to import all the totalitarian, top-down direction policies of big governments spending your
money, telling what you can spend what’s left of your money on,” Mr McCrann told Sky News host James Morrow.
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Chalmers ‘advocating’ for ‘regulation and red tape’ on businessesThis year Australians are going to see a lot more of the Albanese Labor government in their 'business”, says Shadow Immigration Minister Dan Tehan. This comes after Treasurer Jim Chalmers vowed to “remake capitalism”. “What he’s advocating for is bigger government, more taxes, more public servants and I think most concerning of all to small business … more regulation, more red tape,” Mr Tehan told Sky News Australia. “I think it’s a recipe for regulation and red tape, for government and public servants dictating how you will run your small business, not leaving it up to you to do what you can do best, and that’s to generate jobs in this country.”
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‘Not just a nuisance’: Inflation is ‘affecting people’ in the communityIndependent Economist Warren Hogan says the inflation isn’t just a “nuisance” - it’s affecting people in the community at the moment. “It’s a long shot that we’re going to get rid of this inflation,” he told Sky News Business Editor Ross Greenwood.
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Caution in US markets ‘understandable’ ahead of ‘big’ news this weekCommSec’s Craig James says it’s been a “soggy session” in the United States with the Dow Jones down around 200 points. Mr James said technology shares are very much 'lagging' with the Nasdaq down by 1.7 per cent. “The caution is understandable though, we are moving into a very big piece of news over the remainder of this week – we’ve got rates Thursday morning our time, the Federal Reserve will come down with its interest rate decision,” he told Sky News Australia. “We’ve got earnings coming out over the week as well – Apple, Amazon, Facebook, Alphabet – they’re all releasing earnings later in the week and we’ve got the job figures coming out on Friday as well.” Presented by CommSec.
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There is ‘nowhere better’ than AustraliaSky News host Amanda Stoker says Australia has given her “everything” and is “worth the bother”. “It gave the migrants in my family a place to go, a fresh start after growing up in war-torn Europe,” she said. “It gave my sister and I the example of great parents who built a life of substance from humble beginnings. “And it gave this plumber's daughter a first-class education, a top-shelf husband and a family of three precocious girls to go with it.” Ms Stoker said “there is nowhere better” than Australia and that “there is nowhere else to go”. “So let's make damn sure we leave this country better than we found it.”
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‘Pushing policy more to the left’: Jim Chalmers pens essay on Australia’s economic futureTreasurer Jim Chalmers has produced an essay which appears to discuss more about intervention and pushing the economy in directions the government wants on issues like clean energy, according to Sky News Political Editor Andrew Clennell. “The Australian Financial Review editorialised against this essay this morning with the rather blunt headline that ‘Chalmers' new manifesto ignores all the lessons of Hawke and Keating’, suggesting Mr Chalmers was taking up a kind of socialist agenda,” Mr Clennell said. “I do feel that generally speaking, there is a little bit of tension between Anthony Albanese and Jim Chalmers, with Chalmers pushing policy more to the left than Albanese. “There is a view in the Labor Party too that Mr Chalmers no doubt has an agenda to appeal to the Labor Party membership in order to one day get their votes for the leadership.”
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