Australian treasurer Jim Chalmers is set to deliver the 2024 Budget tonight, and economists are raising their eyebrows at some promises.

The reworked stage 3 tax cuts and energy bill relief are expected to be included in a set of nationwide cost-of-living support measures, but Chalmers is insistent they won't fuel inflation.

 HSBC chief economist Paul Bloxham is sceptical these measures won't add to Australia's inflation woes. 

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Australian treasurer Jim Chalmers is set to deliver the 2024 Budget tonight, and economists are raising their eyebrows at some promises.
The reworked stage 3 tax cuts and energy bill relief are expected to be included in a set of nationwide cost-of-living support measures, but Chalmers is insistent they won't fuel inflation.
 HSBC chief economist Paul Bloxham is sceptical these measures won't add to Australia's inflation woes. 
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Paul Bloxham: HSBC chief economist ahead of Australia's 2024 Budget

So the latest climate drama involving this Government is that they’re being accused of lining up to scrap the Clean Car Standards altogether.

And I would say to the EV lobby group pushing this line that they may want to just settle down. Even those of us -and I’m looking straight at myself here - who want to see the standards dropped altogether do not think it’s going to happen. That would take political courage and I do not think this Government has that on a subject like this in an election year.

Now, what I’m talking about, if you don’t follow all of the details, is the twin of the ute tax. This is the other part of that policy that was brought in at the same time.

It’s a penalty that importers have to pay for every dirty car they bring into the country, in the hope that it will encourage them to instead go for the cleaner cars - the EVs. It was recently dropped right down at the end of the year and it’s now up for consultation. The Government is considering overhauling the system.

One of the questions being asked in the consultation is whether it should just be abolished altogether. Now I’d love it to be because it hasn’t worked. Consumers simply do not want to buy that many EVs in this country. The only thing this standard has done is reduce the number of Japanese cars - which we love - coming into the country in the past five years, from 150,000 a year to 90,000 a year.

That’s down 45 percent and apparently most of this, according to dealers, is because of the Clean Car Standard.
And you don’t have to be a rocket scientist to figure out what that does to prices.

If you’re bringing in so many fewer cars, what happens to prices? That’s right - they go up. And who pays that? That’s right - you and I. I don’t love that. The other thing it’s done is force 244 dealers - just last year - to shut down because they couldn’t get enough cars.

So I’d love to see the standard scrapped. It’s only making our cars more expensive, it’s only putting people out of business, and as we know, it’s going to do nothing for the climate because New Zealand is insignificant in the scheme of global emissions.

But it will not be scrapped because every other developed nation apart from Russia is applying standards like this, so we’ll be stuck playing the game too.

“Should it be abolished?” is, I’m sorry to say, just a question to make the Government look like it’s considering everything - but it is not actually considering everything, and we’re probably stuck with this.

LISTEN ABOVE

So the latest climate drama involving this Government is that they’re being accused of lining up to scrap the Clean Car Standards altogether.
And I would say to the EV lobby group pushing this line that they may want to just settle down. Even those of us -and I’m looking straight at myself here - who want to see the standards dropped altogether do not think it’s going to happen. That would take political courage and I do not think this Government has that on a subject like this in an election year.
Now, what I’m talking about, if you don’t follow all of the details, is the twin of the ute tax. This is the other part of that policy that was brought in at the same time.
It’s a penalty that importers have to pay for every dirty car they bring into the country, in the hope that it will encourage them to instead go for the cleaner cars - the EVs. It was recently dropped right down at the end of the year and it’s now up for consultation. The Government is considering overhauling the system.
One of the questions being asked in the consultation is whether it should just be abolished altogether. Now I’d love it to be because it hasn’t worked. Consumers simply do not want to buy that many EVs in this country. The only thing this standard has done is reduce the number of Japanese cars - which we love - coming into the country in the past five years, from 150,000 a year to 90,000 a year.
That’s down 45 percent and apparently most of this, according to dealers, is because of the Clean Car Standard. And you don’t have to be a rocket scientist to figure out what that does to prices.
If you’re bringing in so many fewer cars, what happens to prices? That’s right - they go up. And who pays that? That’s right - you and I. I don’t love that. The other thing it’s done is force 244 dealers - just last year - to shut down because they couldn’t get enough cars.
So I’d love to see the standard scrapped. It’s only making our cars more expensive, it’s only putting people out of business, and as we know, it’s going to do nothing for the climate because New Zealand is insignificant in the scheme of global emissions.
But it will not be scrapped because every other developed nation apart from Russia is applying standards like this, so we’ll be stuck playing the game too.
“Should it be abolished?” is, I’m sorry to say, just a question to make the Government look like it’s considering everything - but it is not actually considering everything, and we’re probably stuck with this.
LISTEN ABOVE

Perspective with Heather du Plessis-Allan: Does the Government have the political courage to scrap the Clean Car Standard?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/8d2712cf-4c16-4181-8921-b404006891a9/transcript

People will have to pay with cash after a Trade Me sale if they want to avoid a fee.

The company's removing its 7.9 percent 'success fee' for casual selling - keeping only a small service fee.

Along with Afterpay and cash, Trade Me uses its own payment system, Ping - taking just over two percent from every sale. 

Trade Me’s Head of Marketplace Lisa Stewart says bank transfers will now be against their policy.

"We've got teams of folks who scan the site to check that nothing dodgy is going on, if they catch that that kind of behaviour's happening, we'd look to educate our customers."

LISTEN ABOVE

People will have to pay with cash after a Trade Me sale if they want to avoid a fee.
The company's removing its 7.9 percent 'success fee' for casual selling - keeping only a small service fee.
Along with Afterpay and cash, Trade Me uses its own payment system, Ping - taking just over two percent from every sale.&nbsp;
Trade Me’s Head of Marketplace Lisa Stewart says bank transfers will now be against their policy.
"We've got teams of folks who scan the site to check that nothing dodgy is going on, if they catch that that kind of behaviour's happening, we'd look to educate our customers."
LISTEN ABOVE

Lisa Stewart: Trade Me Head of Marketplace on the company scrapping bank transfers and dropping success fees

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/77eda2d9-7574-4030-909d-b4040064668b/transcript

The Black Caps have been launched into the T20 World Cup final, and the Kiwi side's thrilled.

New Zealand have thrashed previously unbeaten South Africa by nine wickets in the first semifinal, with Finn Allen smashing 100 not out from 33 balls.

Black Caps player Cole McConchie says Allen gave a 'world-class' performance.

"That was some innings, he had to put out a performance like that in a semi-final from him - that was incredibly special."

LISTEN ABOVE

The Black Caps have been launched into the T20 World Cup final, and the Kiwi side's thrilled.
New Zealand have thrashed previously unbeaten South Africa by nine wickets in the first semifinal, with Finn Allen smashing 100 not out from 33 balls.
Black Caps player Cole McConchie says Allen gave a 'world-class' performance.
"That was some innings, he had to put out a performance like that in a semi-final from him - that was incredibly special."
LISTEN ABOVE

Cole McConchie: Black Caps player on the team's T20 victory over South Africa

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/0bdb035e-1478-4cf3-a136-b40400609976/transcript

Paul Bloxham: HSBC chief economist ahead of Australia's 2024 Budget

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