Treasurer’s Theory of Economics to Be Put to the Test

Published on May 14, 2024

The government brands its budget as an inflation-fighting weapon of precision but economists warn broad cost-of-living relief such as energy rebates and tax cuts for all may make things worse. An expanded version of the energy bill relief delivered in last year’s budget and another boost to Commonwealth Rent Assistance are expected to help tame the consumer price index. Treasury forecasts on the budget on the night of May 14 have those measures reducing inflation by about half a percentage point in the next financial year, possibly providing relief by Christmas. Committee for Economic Development chief economist Cassandra Winzar said handing out cost-of-living relief via the stage three tax cuts and energy bill relief that’s not means tested risked working against the central bank....

Continue reading on website
Other news

Ship That Hit Baltimore Bridge Had Electrical Failures Before Leaving Port, NTSB Says

May 14, 2024
A May 14 preliminary report by the National Transportation Safety Board (NTSB) appears to confirm claims by shipyard workers that the 95,000-ton cargo ship lost power repeatedly before crashing into Baltimore’s Francis Scott Key Bridge on March 26, killing six and shutting down the ninth-busiest port in the United States.The 24-page report states the 947-foot-long Singapore-flagged containership,

Alice Munro, Canadian Nobel Prize-Winning Author, Dead at 92

May 14, 2024
OTTAWA—Nobel Prize-winning Canadian writer Alice Munro has died at the age of 92, her publisher said on May 14.Ms. Munro had died at her home in Port Hope, Ontario, said Kristin Cochrane, chief executive officer of McClelland & Stewart.“Alice’s writing inspired countless writers … and her work leaves an indelible mark on our literary landscape,” she said in a statement.Ms. Munro published more tha