Income slump will be a ‘shock’: Treasury

Original article by Amanda Saunders,{SPAC}Jenny Wiggins
The Australian Financial Review – Page: 8 : 12-Sep-14

Australia’s per capital income has increased by 2.25 per cent a year over the last three decades. Federal Treasury secretary Martin Parkinson has warned that this is likely to slow to less than one per cent in the next decade due to an expected decline in the nation’s terms of trade. He has told a Business Council of Australia forum that the public is unprepared for the forthcoming decline in income growth and has called for sweeping changes to the tax system

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AUSTRALIA. DEPT OF THE TREASURY,{SPAC}BUSINESS COUNCIL OF AUSTRALIA,{SPAC}AUSTRALIAN COUNCIL OF SOCIAL SERVICE

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