"If you do another $US200 billion of tariffs and this national security thing about cars, I think that you're getting pretty close to reversing some of the benefits you've seen in the economy," Dimon said Thursday in an interview published on CNN's website.

In other highlights:

Posted by Jeffery Jefferyson (it was copied from https://www.afr.com/news/economy/trade/jamie-dimon-says-trade-wars-could-stall-us-economic-growth-20180723-h131xc)

Deloitte's Business Outlook, released on Monday, describes personal income tax cuts outlined in the May budget as repeating an old mistake by "spending a temporary revenue boom on permanent promises".

"We'd prefer to see the budget in better health before any such promises were made," the respected consultancy firm said.

The report warns China's slowdown will "slowly seep into commodity prices, winding back profit-driven boosts to federal revenues, while a mini-credit crunch will sound the death knell for the east coast stamp duty bonanza".

Shadow treasurer Chris Bowen said it showed why the coalition was not campaigning hard on the $140 billion worth of tax cuts.

"Locking in long-term tax cuts when there's already half a trillion in gross debt and no one knows what the global or domestic economic backdrop will be in four or six years time is sheer madness," Mr Bowen said.

"Deloitte's analysis of the Turnbull government's never never tax cut plan is a devastating critique."

He said by 2025, the combined fiscal impact of big business tax cuts and stage three of the income tax cuts is about $25 billion a year.

"The Liberal Party's unfunded tax cut plans mean more pressure on debt and a stronger likelihood of further cuts to schools and hospitals over the next decade."

The report found government budgets were looking the "healthiest in a decade" due to a surge in federal profits taxes and state stamp duties.

Posted by Danger Zone
Sourced From: https://www.sbs.com.au/news/economic-risk-makes-tax-cut-bad-call-laborhttps://www.sbs.com.au/news/economic-risk-makes-tax-cut-bad-call-labor

In 2003, households on the lower half of incomes typically earnt £14,900.

In 2016/17 that figure had fallen to £14,800, the research shows.

Both figures are adjusted for inflation and housing costs.

There are over eight million low and middle income households, just under half of which have children.

And it is not just poorer households which have been facing a pay squeeze.

On average, incomes for all households in 2017/18 increased by just 0.9%, the lowest rise for four years and less than half the average between 1994 and 2007, just before the financial crisis.

For the poorest third of households, incomes actually fell by up to £150 in the last year.

The Resolution Foundation report said that surveys revealed that over 40% of low to middle income families feel they would be unable to save £10 a month and over 35% would be unable to afford a holiday for one week with their children.

Sourced from:
https://www.bbc.com/news/business-44926447
Continue reading from there

Posted by petra 

While there’s a mixed picture for Melbourne and Brisbane, Sydney has just recorded its highest vacancy rate in at least 13 years — as SQM Research figures now show 2.8 per cent of the city’s units and houses are sitting unoccupied. And they say it’s only going to get worse in the coming months.

That adds up to 19,572 residential rental dwellings estimated to be sitting vacant and available for rent, and experts say it could signal a dramatic slowdown in the city’s economy.

The new data shows this worrying downturn in the Harbour City has forced a fall in the asking rent for a house by 0.8 per cent on average and it could lead to tighter regulations on new developments, which could hamper the city’s booming construction sector.

The Hills District to the city’s north west has been hit particularly hard, with almost 5 per cent of homes in the vast area sitting empty.
https://www.news.com.au/finance/economy/australian-economy/economy-slowing-sydneysiders-moving-and-towers-shooting-up/news-story/ef7b985027421b12edc8512ebfd6ceda