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Business groups have cast doubt on the federal government’s ability to return the budget to surplus. They say the budget does nothing to inspire business confidence. The Chief Executive of the Business Council of Australia Jennifer Westcott is critical of the government’s plan to crack down on multi-national tax loopholes.
“It’ll make it difficult to attract companies in Australia when they really don’t come to terms with the fact that we live a very competitive world. But it’s a sort of principle of more ad hoc, incremental1 tax changes as supposed to a fundamental review of the tax system. We need to do tax reform. We need to make sure that we've got the revenues to pay for the future and we've got a tax system that is competitive. You can’t keep putting these things off. Every budget that we’ve been seen has put them off again.”
Jennifer Westcott on 7:30 last night.
Let’s look at the markets now.
The Dow is up 124 points. The Nasdaq is 24 points higher. S&P 500 is 17 up. In London, the FTSE closed 54 points higher.
Looking at commodity prices.
West Texas Crude’s trading at 94 US dollars a barrel. Tapis is at 108 US dollars a barrel. And gold is trading at 1424 US dollars an ounce.
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1 incremental | |
adj.增加的 | |
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2 sterling | |
adj.英币的(纯粹的,货真价实的);n.英国货币(英镑) | |
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