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2010-05-22

Rationale for super profits: what is it?

Comments on Jennifer Hewett “Holes in super-profits rationale have created an impasse”, 22/05/2010, http://www.theaustralian.com.au/news/opinion/holes-in-super-profits-rationale-have-created-an-impasse/story-e6frg6zo-1225869801423
The questions related to the RSPT raises another important question that John Hewson raised on the AFR yesterday: is Treasury the best way to determine fiscal policy, or should there be an independent fiscal authority to assist the nation as opposed to the government with its own political interests?

It seems Treasury, though normally respected and accustomed by the public, is not independent enough. And further, its work is generally not scrutinised sufficiently by the public, because it can often hidden behind the government (and the government on the other hand claims it is Treasury independent advice!)

It has not worked well for the nation's interests, particular over the last 2-3 years.

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