Today's Headlines

an Aussie's viewpoint on Australia's first daily Internet newspaper.

Search news archive - remember to select NEWS INDEX

Thursday 3rd October 1996

International:

Peter Costello, Australia's own Federal Treasurer, has stirred up a storm - with ripples being felt even in the good old USA! Seems like he spilled the beans on his discussion with United States Federal Reserve chairman, Alan Greenspan.

Costello sparked major movements on world financial markets when he was quoted as saying that Greenspan had told him that the US had inflation under control.

Dr Greenspan's comments are closely scrutinised by financial markets as indicators of where US interest rates are heading.

After opposition Federal Treasurer, Gareth Evans, gaffe on radio earlier in the week where he said that new taxes should be imposed this major blunder by the Federal Treasurer was like sweet music. Evans immediately called for Costello's resignation saying that he was no longer fit to be Australia's treasurer.

Costello, in the meantime, has denied making the statements.

Bully boy US has also threatened retaliation against Australia for what it alleges to be a breach of free trade obligations.

The US has officially sited Australia under its so-called Super 301 law saying that the Australian Government had subsidised Australian companies at the expense of American business.

The dispute revolves around export subsidies given to the Australian textile, clothing, footwear and vehicle industries to assist them in preparing for zero tariffs.

After what Star Fleet commander Bill Clinton did to cancel our Au$300 million wheat contracts with Iraq last month, and the intimidatory moves by the US to monopolise agricultural sales throughtout the world with massive subsidies to their farmers they have got a bloody cheek.

Political:

Some Liberal MPs helped controversial Oxley Independent MP in her election campaign after she was disendorsed by the party Liberal Frank Carroll has claimed. Carroll the Liberal MP who presented Hanson with flowers after her talk to the Nationals at Mansfield earlier this week said, "The National Party members and Liberal Party members worked very well together and I know of some Liberal Party members who persisted in assisting Pauline as an Independent."

Well it is a free country after all, isn't it?

In the meantime the media have continued their line of Hanson bashing.

An interesting statement by the Director of Monash University's Centre for Population and Urban Research, Bob Birrell, reveals that about 20% of Australians felt threatened by Asain immigration.

Business:

It appears that Frank Carroll was also behind an attempt in getting the Century Mine back on track. His simple plan was proposed to state premier Rob Borbidge after things came to a crunching halt earlier this year included:
The government rejected his offer and Carroll said that he was not aware of any other plan being adopted.

Social:

Average full-time employees lose two out of five days salary to the taxman according to research by the National Tax and Accountants Association (NTAA). NTAA President, Ray Regan, said that most people didn't realise that they paid just as much hidden and indirect taxes as they did on top of personal income tax.

A person on an average yearly earning of Au$37,102 would pay Au$14,917 in tax. Au$7,551 in federal income tax and Au$7,366 in federal, state and local government indirect taxes.

To put that in perspective over a year, it means, according to Regan, that the average tax payer will start earning untaxed income on November 23rd this financial year - the salary equivalent to the first four and a half months going to taxes...

Personal trivia, from the global office:

Another beautiful sunny Queensland day... but one to be spent in the "big smoke"...

Return to Australian National News of the Day

#
Web development, design, and storage by Global Web Builders - Email: global@gwb.com.au

See GLOBE International for other world news.