Unless the Federal government cuts spending, the budget will stay in deficit forever according to Tony Shepherd

Click here to listen to Tony Shepherd's interview with Tom Elliot on 3AW

Unless the Federal government cuts spending, the budget will stay in deficit forever, according to prominent businessman, Tony Shepherd.

Speaking on 3AW Drive, Mr Shepherd said Australia needs to get the budget on more sustainable footing and reduce its collective dependence on welfare.

"The bottom line is it's the welfare payments...we have to try and get that expenditure …


Aust economy risks 'genuine crisis': report

Tony Shepherd speaking on Sky News (click below)

27.7.13TAusteconomyrisksgenuine crisis

Prominent businessman Tony Shepherd warns the Australian economy risks a 'genuine crisis', although he won't go as far as calling it a 'banana republic' as Paul Keating once did.

But he does believe Treasury's assumptions for a balanced budget by 2021 are 'heroic' because they rely on the maintenance of an expanding economy and the Senate passing measures to support fiscal consolidation.

Mr Shepherd is spearheading a …


Australia could be crippled by pension spending, says Tony Abbott audit chief

Original article by Peter Martin in the Sydney Morning Herald

Australia runs the risk of becoming the new Japan, "crippled by pension spending" unless it winds back the entitlements of a swelling aged population.

Business figure Tony Shepherd, who chaired the Commission of Audit for the incoming Abbott government, raises the prospect in the first of three studies intended to update the commission's work for the Liberal Party-aligned Menzies Research Centre.

The …


Tony Shepherd warns baby boomer entitlement could spark budget crisis

Tony Shepherd speaks with ABC Senior Business Correspondent Peter Ryan (click below) 


SABRA LANE: The head of the Abbott government's commission of audit Tony Shepherd is warning that Australian living standards are at risk without serious budget repair.

With the Federal Budget six weeks away, Mr Shepherd also warns that future generations will suffer as self-interested baby boomers cash in on their pension entitlements.

In an economic review for the Menzies …


Report describes 2021 surplus as 'heroic'

Original article by AAP via SBS online

Businessman Tony Shepherd has had a second look at his 2104 commission of audit and found the outlook is just as worrying as it was three years ago.

Treasurer Scott Morrison is standing by his forecast for a budget surplus in 2021, even as a new report described Treasury's assumptions as "heroic".

Prominent businessman Tony Shepherd has warned the Australian economy risks a "genuine crisis".

In an independent review of the …


Family home should be in pension assets test: Tony Shepherd

Family home should be in pension assets test: Tony Shepherd

Original article by ABC's Senior Business Correspondent Peter Ryan 

Key points:

  • Including family home in the pension assets test "may have to be done" to repair budget
  • "We do risk a genuine crisis unless we can get growth going again": Shepherd
  • AAA credit rating at risk unless agencies are convinced of "path back to surplus"

In a report for the Liberal Party-linked Menzies Research Centre, Mr Shepherd said including the family home in the pension …


Spending sinks all hope of budget surplus

Original article by David Uren in The Australian:

Australia’s federal budget is ­unsustainable, a report led by the head of the Abbott government’s audit commission warns, casting serious doubt on “somewhat ­heroic” Treasury forecasts of a ­return to surplus in four years.

The report, drafted at the ­direction of leading businessman Tony Shepherd, warns that the government’s welfare and pension spending is fuelling ongoing deficits and has the …


A wake-up call for the spendthrift political class

Original editorial in The Australian:

Why Australians are struggling to get ahead is the apt title of a new report prepared for the Menzies Research Centre. Regardless of their political affiliations, voters and the political class cannot afford to ignore its pertinent warnings. The report, prepared by a panel headed by the former head of the National Commission of Audit, Tony Shepherd, is packed with inconvenient truths. While Australians are enjoying living …


Labor invents a straw man of an evil Australian business sector

MRC Director of Policy and Research Andrew Bragg writes in The Australian:

Attacking Australian business is becoming a dangerous national sport.

Labor’s assistant Treasury spokesman, Andrew Leigh, is now the No 1 fan. His incorrect conspiracy theories on Australian company ownership say much about the mindset of a man who would be treasurer.

Leigh and co have invented a straw man of an evil Australian business sector.

The straw man distorts pivotal national …


Tony Shepherd takes aim at baby boomers

Original article by Jacob Greber in the Australian Financial Review

Tony Shepherd has lashed out at his own baby boomer generation's entitlement mentality, saying continued failure to address looming problems caused by the ageing population will ultimately erode the living standards of younger Australians.

"You and your kids will be paying," Mr Shepherd said. "The baby boomers did a great job growing our country and much of our current wealth is built on their work. But …


[PRESS RELEASE] Australians to live in the most prosperous nation on earth. Do you feel that way?

Click here to download a copy of the Press Release

Just months away from pulling off the greatest economic performance in world history – many Australians feel they are not getting ahead: the new forgotten people.

Later this year Australia is poised to better the Netherlands previous record and clock up our 104th quarter of economic growth.

However, new research for the Shepherd Review, commissioned by the Menzies Research Centre, shows that Australians do not …


The nation's past successes have led us to sloppy thinking

MRC Director of Policy and Research Andrew Bragg writes in The Australian Financial Review:

Australia is fat and happy. Indulgences delivered by 25 years of economic growth are beginning to unravel the place. A provincial mindset, fact-free debate and sloppy, inconsistent policymaking is commonplace.

Three current issues reveal the nation's flabbiness.

The first is tax. To the detractors of the company tax cut plan, it doesn't matter what our tax system looks like, …


How Australia can prove we are not the 'white trash' of Asia

Original article by Harold Mitchell in The Sydney Morning Herald

I know how Jules Verne must have felt. My recent trip to New York plus three days in Israel and two more in London was a fascinating circumnavigation but thanks to Qantas and the LLJets I did it quicker than 80 days in a balloon.

However, on return, I refuse to be demoralised, despite much of the world leaping ahead of us in crucial areas of economic policy. The highly competitive tax rates in the …

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