RMIT economist Sinclair Davidson - Illumination Solar founder Shane Thatcher - Talking Business 2012 - Ep16

Summary: Interview with RMIT economist Sinclair Davidson Interview with Illumination Solar founder Shane Thatcher - www.illuminationsolar.com Leon and Garry talk about issues including - Conflicting polls about the response to the Federal Budget with some saying voters reject it and others pointing to a small lift in the government’s standing. - Treasurer Wayne Swan reassuring business the federal government is still on the case to reform the tax system, despite ditching a promised cut in the corporate tax rate in last week's federal budget. - Resources Minister Martin Ferguson warning against any tax reforms that could put at risk the looming wave of gas projects, at a time when companies have been vocal in their opposition to Treasury Department proposals to remove company tax concessions. - Union leader Paul Howes warning that Australia's union movement could be wiped out if there is another episode like the Health Services Union scandal. - The ACTU planning a permanent, multimillion-dollar campaign fund to take on the federal Coalition and business groups in the lead-up to the federal election due next year. - The ACTU canvassing the rich being forced to pay a new "millionaires' tax" under a plan inspired by multi-billionaire Warren Buffett and US President Barack Obama. - The Reserve Bank fuelling hope of further rate cuts, saying inflation should stay low and that the non-mining economy will need to create more jobs in order to contain unemployment. - Sales of new motor vehicles in Australia falling in the month of April, according to data from the Australian Bureau of Statistics. - Wages prices rising 0.9 per cent and commercial finance commitments rising 8.8 per cent. - A Boston Consulting Group study showing that more than than half of all Australians feel they have been personally affected the global downturn, despite the nation's strong economy while consumer confidence rises 0.8 per cent. - Transport and logistics Toll Holdings has warned of lower earnings in 2012 as weakness in the retail sector impacts on its business. Toll said it expects underlying earnings before interest and tax (EBIT) to fall to about $400-$420 million, excluding one-off items but including associate earnings. - Foreign investment approvals in Australia growing by 27 per cent in the last financial year, to be almost in line with pre-global financial crisis levels and reflecting ongoing interest in the resources sector. - Former Future Fund chairman David Murray predicting 15 years of difficult economic conditions as governments work their way through the effects of the global financial crisis, and flagging an alternative way to smooth out the effects of the resources boom for the non-mining sectors. - State governments reeling from a steep decline in forecast goods and services tax revenue as sluggish economic conditions create severe strains on state budgets already stretched after the global financial crisis. - The Australian dollar falling below parity against its US counterpart for the first time in almost five months. - And finally, the news from Greece is not looking good.