The Dismal Science

This week Stephen and Ivan talk about the regulator crackdown on interest-only loans and the AICD's Blueprint for Growth, which outlines our national reform agenda. Discussed in this episode: [0:46] APRA interest-only loan crackdown [0:57] RBA Governor's property warning [1:14] Bank executive comments [1:33] APRA's original 2014 restrictions [3:44] RBA's April interest rate decision [4:05] Council of Financial Regulators [4:41] Glenn Stevens on 'crazy' house prices [5:17] RBA turns downbeat [5:27] Surprise jobless rate increase [6:07] AICD's Blueprint for Growth [7:06] AICD education programs [7:37] Stephen on infrastructure [7:50] Negative gearing escalation [8:14] Morrison: "We have a spending problem." [8:49] Morrison: "We have an earnings problem." [9:14] 2016 budget spending GDP share [14:07] Superannuation tax concessions cut [14:12] SME company tax cuts [14:22] Tax efficiency [15:15] Regressive tax [15:35] Land tax [16:17] Milton Friedman on tax [17:11] Australian current account deficits [17:53] Negative gearing in 2016 election [18:20] CGT discount introduced in 1999 [19:16] Government considering CGT changes [19:30] Henry tax review [21:58] Where Ivan misquotes Keynes Tweet at us @aicdirectors or message us on Facebook with feedback on the Blueprint or suggestions for upcoming topics.

On this episode of The Dismal Science, Stephen and Ivan talk Brexit and welcome their first guest, AICD Senior Policy Adviser Lysarne Pelling, who came in to discuss proposed safe harbour laws that could save companies from painful insolvencies. Discussed in this episode: [0:59] UK triggers article 50 [1:15] Stephen's reaction the day of the Brexit vote [1:35] Maastricht Treaty [2:09] >50% of UK trade is with the EU [2:24] Gloomy forecasts for UK economy [3:58] Requirement EU 27 unanimity [4:11] Nationalist parties on the rise in Europe [4:58] Impact on UK financial services [9:55] Draft insolvency law reforms [10:41] When does safe harbour apply? [10:52] Severe penalties for insolvent trading [12:27] Insolvency law in UK and Singapore [13:24] Arrium administration's effect on Whyalla [15:43] Distressed debt funds [15:55] US Chapter 11 provision [16:51] Productivity Commission on an Australian Chapter 11 [19:20] Email Lysarne your thoughts [20:00] RBA cash rate Tweet at us @aicdirectors or message us on Facebook with feedback on the show or suggestions for upcoming topics

In this special episode of The Dismal Science, Stephen and Ivan discuss the housing market. Is it a bubble? Should regulators be concerned? And what can we do to make housing more affordable? Discussed in this episode: [0:48] Avocado toast [0:57] Housing affordability in the budget [4:49] Australian household debt [6:29] APRA concerns (paragraph 5) [6:55] RBA's subtle shift on housing [9:28] NINJA loans [11:20] "Get a good job that pays good money." [15:19] Superannuation housing plan under consideration? [19:21] Sydney annual house appreciation [19:59] Sydney's average house-to-income ratio (second only to Hong Kong) Tweet at us @aicdirectors or message us on Facebook with feedback on the show or suggestions for upcoming topics.

In the second episode of the AICD's new weekly economics podcast, Stephen and Ivan discuss the 'disaster' that was the February jobs numbers, Western Australia's economy post mining boom and the AICD's number of the week.

In the first episode of the AICD's new weekly economics podcast, Stephen and Ivan discuss the Reserve Bank's copy-and-paste interest rate decision, society's anxieties about the robot revolution and the AICD's number of the week.