Prime Minister Tony Abbott has not ruled out a debt tax on higher income earners in the May budget, arguing that it would not be a broken pre-election promise as it would be a temporary measure.
In an interview with radio station 3AW this morning the Prime Minister also defended his paid parental leave scheme as “a good policy whose time has come”.
Former billionaire Nathan Tinkler is now caught up in the Independent Commission Against Corruption hearing, with revelations of a text message from the coal baron to an associate last year.
According to Fairfax, Tinkler texted: “Who is ICAC?” and upon receiving the reply, Tinkler responded: “Oh mate ur f-cking kidding me…”
It is likely Tinkler will be well acquainted with the corruption watchdog by the end of this week.
The S&P/ASX 200 was down slightly since opening this morning falling 10.50 to 5525.6, a fall of 0.19% while the All Ordinaries also fell 10.90 to 5505.2, a slight decrease of 0.2%.
In contrast, Scott Schuberg, chief executive at Rivkin, says international markets were more optimistic overnight.
“After the US NASDAQ led markets lower throughout much of last night’s session, optimism crept in at about 1:30pm New York time and dragged markets higher, with the Dow and S&P 500 finishing up by 0.53% and 0.32%.”
Cara Waters is a former SmartCompany editor. Previously, Cara was a senior reporter for the Financial Times’ website and worked for The Sunday Times in London.
