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Banking encourages cheating

FUA AWARDS
Any meaningful shift in the finance sector’s corporate culture will have to come from within, writes David Kinley. Do banking and finance attract cheats or create them? This was the question a team of behavioural economists from Switzerland set out to answer in a ground-breaking experiment in 2014. They took 128 bankers...
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Government timing tricks hide the real budget story

BUSINESS
Timing tricks help politicians avoid dealing with the substance of their policies. That isn’t going to change any time soon. Cindy Zhi, CC BY-ND Richard Holden, UNSW This year’s budget may not have had a whole lot of surprises, but it was chock full of crafty timing tricks. The government’s new personal...
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View from The Hill: A tax cut that will ‘pay your rego’

POLITICS
Michelle Grattan, University of Canberra The Turnbull government has produced a budget that it hopes it can sell as appealing for voters while appearing fiscally responsible. Its income tax cuts target lower and middle earners in the early stages, delivering a benefit of up to $530 a year for them. If...
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Infographic: Budget 2018 at a glance

POLITICS
Wes Mountain/The Conversation, CC BY-ND Jenni Henderson, The Conversation and Wes Mountain, The Conversation Jenni Henderson, Section Editor: Business + Economy, The Conversation and Wes Mountain, Deputy Multimedia Editor, The Conversation This article was originally published on The Conversation. Read the original article. Unlike many online news portals, your Pigsfly Newspaper doesn’t hold...
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Eight charts on our growing tax problem: what abandoning tax reform means for taxpayers

POLITICS
Eight charts on our growing tax problem: what abandoning tax reform means for taxpayers Rebecca Cassells, Curtin University and Alan Duncan, Curtin University As we move closer to Treasurer Scott Morrison’s third budget, what we do know is this - Australia has a revenue problem. A more global and digital economy;...
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Budget explainer: the structural deficit and what it means

POLITICS
The ageing of Australia contributes to its structural deficit. Flickr/Jonas Boni, CC BY Sarantis Tsiaplias, University of Melbourne In the lead-up to the federal budget there is the inevitable attention given to government spending and debt. But one of the increasingly pressing problems that Australia faces gets a lot less attention than...
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A cheat sheet for reading the federal budget

POLITICS
The budget papers aren’t so scary, if you know how to read them. Lukas Coch/AAP Phil Lewis, University of Canberra and Anne Garnett, Murdoch University The federal budget rolls around, usually on the second week of May, every year. Last year there was over 600 pages of budget papers, pored over by...
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How Australia’s mysterious ‘fifth bank’ has dodged the royal commission

POLITICS
While the banking royal commission battles on, exposing scandal after scandal so serious it looks as though the sector’s reputation will be in tatters for a generation, one bank has somehow managed to completely avoid the limelight. That bank is the ever-elusive Macquarie Group, often regarded as the fifth pillar in Australia’s banking...
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The 2018 Archibald, Sulman and Wynne prizes show a changing of the guard

EMPORIUM
Detail from Tom Polo. ‘I once thought I’d do anything for you. (Joan)’ acrylic on canvas 152.5 x 101.5cm © the artist Photo: AGNSW, Felicity Jenkins Joanna Mendelssohn, UNSW The Archibald Prize, which is in the process of being judged at the Art Gallery of New South Wales, has always been more about social history than...
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After damning the Commonwealth Bank’s management, regulators want the bank to fix itself

BUSINESS
Helen Bird, Swinburne University of Technology A report on the Commonwealth Bank’s governance, culture and accountability has stripped away the bank’s delusion that it is well run and a model of good governance. The report by the Australian Prudential Regulation Authority (APRA) is a damning indictment of every aspect of CBA...
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